Financial Stress in the Workplace with Bromwich and Smith
VANCOUVER -- Forty percent of working Canadians feel overwhelmed by their debt.
Taz Rajan of Bromwich and Smith shared that according to one study, financially stressed employees are five times more likely to be distracted at work.
Forty-six per cent spend three hours per week or more dealing with financial issues.
Rajan shared that there are warning signs that debt is impacting work.
The warning signs are:
- Being distracted from the task at hand while thinking of debt.
- Finding it difficult to get out of bed and get moving.
- Issues with sleep and overall health.
Rajan mentioned that financially stressed individuals are twice as likely to report overall health issues and four times as likely to suffer from lack of sleep.
Rajan shared these tips for those feeling overwhelmed by financial stress:
- Recognize the signs. The key is to catch oneself and realize that there is an issue.
- Reach out to your human resources department. Many work places offer programs and referrals to great professionals and programs.
- Speak with a Licensed Insolvency Trustee Firm like Bromwich and Smith. They are federally legislated to administer debt forgiveness programs in Canada.
Rajan mentioned that there is a vested interest for employers to invest in the financial well-being of their staff.
Employers should invest the time to ensure their staff is equipped with the knowledge and tools to facklet their financial burdens.
This can reduce monetary losses for an employer and ensure a safe workplace with great culture and excellent retention.