Financial Stress, Student Loans and the Workplace

The American Psychological Association issues a report on stressors in America each year. Financial stress consistently holds one of the top spots. Employees struggling with the burden of student loan debt are more likely to have damaged credit, wage garnishments, mental health problems including depression, anxiety, anger, and physical ailments such as migraines, back problems and more. Most aren’t saving, or saving enough, for retirement, and many aren’t able to meet their monthly budget demands.

“Whether or not you think financial stress is a problem in your organization, statistically it is. Your employees are worried about their finances while they try to complete their usual on-the-job duties. When employees feel financial relief and a sense of success, they more readily turn their productive energy toward their jobs and think more seriously about creating a secure future.”

Helping employees find relief from their student loan debt is a win-win for them and your organization. You help them, they feel more loyalty to you because you have shown you care about them, and they are free to focus on their jobs and other life goals.

To learn more about the impact financial stress is having on your employees, visit www.gibsonins.com/blog/financial-stress-in-the-workplace