Distress cost refers to the greater expense that a firm in financial distress incurs beyond the cost of doing business. All of this presenteeism and absenteeism comes at a We’ve determined that financial stress comes at a cost to the organization—in lost productivity and absenteeism—of more than $1,900 per employee, per year.

Retirement planning: If the source of financial stress is not earning enough money, employees are less likely to contribute to their employer-sponsored 401k programs. Ayco believes the material used for the article is accurate, but does not verify its accuracy independently and does not warrant or guarantee that is it accurate or complete.Articles on this site were commissioned and approved by The Ayco Company, L.P., but may not reflect the institutional opinions of Goldman Sachs Group, Inc., Goldman Sachs Bank USA or any of their affiliates, subsidiaries or divisions.

Ayco has no obligation to provide any updates or changes to this data.

That’s a bottom-line effect on businesses of all sizes: A small business of 100 employees loses $190,000 per year to financial stress, a midsize company of 600 employees loses more than $1 million annually, and a large employer with 10,000 employees loses $19 million per year. Financial stress—like any type of stress—causes a number of physical and psychological symptoms.

Product features and availability may differ by state.John Hancock Retirement Plan Services, LLC, John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance Company of New York each make available a platform of investment alternatives to sponsors or administrators of retirement plans without regard to the individualized needs of any plan.

A study correlating happiness and productivity found that individuals who are happy have approximately 12% greater productivity than those who are not.Ayco can positively impact your company and help put your employees on the path to financial wellness through comprehensive counseling across planning disciplines, such as cash flow and budgeting, risk management, tax planning, estate planning, investments, and benefits and retirement.Check the background of Ayco’s affliated broker-dealer, Mercer Allied Company, L.P.: This article is for informational purposes only and is not a substitute for individualized professional advice. In Ayco’s experience working with thousands of employees across the country, we’ve seen high levels of financial uncertainty and stress in every generation. The group who had prior experience with Ayco’s comprehensive financial planning had a 16% higher initial financial wellness score when compared to new users on the platform. The report states, “These factors have delayed major life milestones such as getting married and owning a home and have limited their ability to accumulate wealth.”A workforce that is financially unfit exacts a toll in tangible and intangible ways such as workplace distractions, employee dissatisfaction and weakened job performance.

The cost of stress in the workforce 4. A research protocol was developed. Almost half say they spend time on their personal finances at work, with 28% saying they spend one to two hours per month and 19% spending more than three hours per month. Nearly half of all employees (45%) find dealing with their financial situation stressful6. The cost of a financial wellness program can pale in comparison with the cost of financial unwellness. A study by the Defined Contribution Institutional Investment Association (DCIIA) declares this a “disengagement crisis” that is costing employers $300 billion annually in lost productivity.These financially stressed workers are taking higher numbers of sick days, incurring higher healthcare costs and are missing work proportionately more than their peers.Ayco’s work supports this with insights from two key cohorts:The difference is illustrated below. Unless otherwise specifically stated in writing, each such company does not, and is not undertaking to, provide impartial investment advice or give advice in a fiduciary capacity.Both John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance Company of New York do business under certain instances using the John Hancock Retirement Plan Services name.JH Enterprise® is a registered trademark of John Hancock Life Insurance Company (U.S.A.).JH Signature™ is a trademark of John Hancock Life Insurance Company (U.S.A.) and is used under license by John Hancock Life Insurance Company of New York.NOT FDIC INSURED.

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