Money on the mind: survey finds Canadians worry about finances while on the job
Posted Sep 4, 2019 07:08:54 AM.
This article is more than 5 years old.
TORONTO — A report from the Canadian Payroll Association says a significant number of employees admit that their workplace performance has been eroded by the stress of their personal financial situation.
Nearly one-quarter of nearly 4,300 employed people surveyed for the association says they agreed or strongly agreed that stress about personal finances had an impact on their performance at work.
The vast majority of respondents say they spent about 30 minutes per day or less dealing with personal financial matters at work, but a small percentage indicated they could spend more than 30 minutes a day on such matters.
Among the biggest sources of stress identified by the survey were the rising costs of living and overwhelming debt.
Association president Peter Tzanetakis says Canadian businesses could improve their competitive edge and financial results by addressing the financial wellness of their employees.
He says about 55 per cent of Canadian businesses offer to automatically move some of an employee’s pay into a separate account to encourage savings, but only about one in three Canadian employees participate.
The Canadian Press
