While employee wellness is commonly considered important for Canadian business owners, employees often experience emotional stress that can distract them from doing their best at work, according to Ipsos Reid’s 2015 study on health and wealth (PDF).
In 2015, Manulife initiated the survey to help shed more light on the role poor finances play in the mental and physical challenges facing many working Canadians:
- 20% of employees said they’re financially unprepared
- 33% of all workplace disability claims were related to mental illness
- 90% of employers identified stress as the most significant reason for these claims
- 45% of employees identified personal finances as the leading cause of their stress
- 60% of the financially unprepared delayed or didn't obtain various services aimed to improve their health due to financial constraints
Based on these numbers, there does appear to be a correlation between health, financial preparedness and workplace engagement. Helping and supporting employees in taking care of their health and finances can lead to improved workplace engagement and productivity.