Financially stressed workers costing employers billions: Report

November 1, 2022

For the second year in a row, Canadian employers are losing billions of dollars due to workers’ financial stress.

Employers are expected to lose more than $40 billion due to workers dealing with personal financial matters at work, up from the $26.9 billion they lost in 2021, finds the National Payroll Institute.

“On average, a financially stressed worker spends nearly 30 minutes every day dealing with their financial situation — and not on business tasks at hand,” explains Peter Tzanetakis, president of the institute.

“Over the year, that’s over three weeks of lost productivity per employee.”

Source: HR Reporter