Personal finances a major stressor
More than a quarter of Canadians sometimes struggle to keep up with their financial commitments or are having real financial problems and new research by The Conference Board of Canada says stress surrounding personal finances may affect workplace productivity.
About 25% of Canadians who report financial struggles are dipping into their retirement for extra funds and just 72.5% are preparing financially for retirement. Among those who are unprepared, not being able to afford retirement savings and investments is a frequently cited reason. Money on the Mind: The Design and Impact of Employer-sponsored Financial Wellness Programs found 74% of Canadian employers feel they have a responsibility to help their employees with financial wellness.