During Mental Health Awareness Month, New Research Shows Finances as a Concern for 85% of Stressed Workers
Workplace benefits, financial planning and wellness tools can help
Finances were a more impactful driver for workers’ stress levels than their jobs, their personal relationships, current events, their health or even their safety. Workers stressed about finances ranked managing day-to-day expenses as a top concern (57%), followed by unexpected expenses, planning for their financial future and debt (49% each).[2]
To help ease stress, employers can ensure their employees have the right benefits and protections in place, including financial wellness programs to help them navigate through their financial journeys. Of those employees who have used financial wellness resources, 77% say they’ve had a positive impact, and 69% say the support helped reduce the amount of stress they feel about finances.[3]
“Providing a suite of benefits that address a range of workers’ needs, coupled with robust education, can help employees access the tools and resources they need for improved peace of mind and wellbeing,” said
In addition to employers doing their part to provide well-rounded benefits to support employees, Lincoln Financial recommends employees consider the following resources to manage their finances and receive the support they need.
Enroll in voluntary benefits to reduce unexpected medical expenses. Supplemental health benefits, such as Critical Illness,
Meet with a financial professional to create a financial plan. By meeting with a financial professional, employees can confidently take the first steps to building a secure financial future for themselves and their families by assessing their current financial portfolio. Financial professionals, or a dedicated retirement consultant available through a participating plan, can provide industry knowledge and consider personal circumstances such as accumulated debt and long-term financial goals, including retirement, to create a comprehensive and actionable financial plan.
Take advantage of employer sponsored Employee Assistance Programs. Employee Assistance Programs (EAPs), provide tools and resources such as mental health support and financial planning services to help employees navigate life events. Research shows that employees who use EAP resources have better engagement at work, life satisfaction and less workplace distress and absenteeism.[6]
Take control over your finances. Wellness programs like Lincoln WellnessPATH® are designed to improve financial health, provide educational resources and track goals, giving employees confidence when making financial decisions. Lincoln WellnessPATH® also connects individuals with partner companies that help them work toward their financial goals.
Lincoln Financial is committed to helping empower individuals to achieve greater financial security, resilience and peace of mind through a suite of workplace solutions products, including WellnessPATH ®, as well as services and educational resources. Visit Lincoln’s “mental well-being in the workplace,” “wellness solutions” and the “prepare for the moments that matter” sites for more information.
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Lincoln Financial’s mental health and wellbeing programs have been recognized by Ragan as a
Top Places to Work for Employee Wellbeing:
[1] Lincoln Financial, Consumer Sentiment Tracker, 2023
[2] Lincoln Financial, Consumer Sentiment Tracker, 2023
[3] Lincoln Financial, Wellness@Work: Retirement, 2023
[4] Lincoln Financial, Consumer Sentiment Tracker, 2023
[5] Lincoln Financial, Consumer Sentiment Tracker, 2022
[6] Attridge, M. (2023). The Current State of Employee Assistance Programs in
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