Employee financial stress is negatively impacting organizations’ bottom lines.
WALTHAM, MA, September 26, 2019 /24-7PressRelease/ — SAVVI Financial LLC, a leading technology-enabled financial wellness platform, today released a white paper entitled “The High Cost of Employee Financial Stress.” The white paper outlines how employee financial stress is negatively impacting organizations’ bottom lines.
Americans are increasingly anxious about their financial situation and they are bringing that stress to work. The recent American Psychological Association Stress in American survey found that a reported 72 percent of Americans reported feeling stressed about finances at least once in the past month. The American Institute of Stress estimated that stress costs American businesses $300 billion a year through lower 401(k) participation, increased employee turnover, legal and medical costs, decreased productivity, absenteeism, and declining satisfaction in company benefits. Not surprising, employers have started to implement various financial wellness solutions to combat this epidemic but have been met with mixed results.
Gina Mourtzinou, CEO of SAVVI said, “Company leaders are increasingly recognizing how workplace stress is impacting not only their employees’ well-being but also the bottom line. As the white paper shows, a financial wellness program tailored to the employee base and implemented correctly can result in elevated company performance.” Mourtzinou also talked about the importance of this paper in helping to educate leaders on past mistakes and how to consider employees’ wants for successful future solutions.
Employees want a holistic solution from an unbiased provider that can look across all their financial choices and help make decisions on the many financial issues that concern them. By giving employees education, guidance and resources to make smarter financial decisions, companies create a competitive edge when it comes to recruiting, retaining talent and reducing employee financial stress.
Click here to download the white paper, “The High Cost of Employee Financial Stress.”
Started by a team of MIT PhDs with 20+ years of experience in finance, analytics, and robust optimization with a core mission to democratize financial planning and advice, SAVVI Financial LLC is an SEC-registered investment advisor that delivers tax-smart financial guidance using deep quantitative analysis to help customers achieve their financial objectives. For more information, visit www.savvifi.com.
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