Most people struggle to manage their money. As a result, 77 percent of Americans are living from paycheck to paycheck (CareerBuilder, 2010).

How Does This Affect the Workplace?

Employees with money problems may be absent more often, spend work hours on the telephone resolving financial concerns, and be more easily distracted than other employees. Consider these statistics:

More than three-quarters of employees said that financial advice and guidance programs would improve their productivity
- MetLife

Financial worries have been cited as the leading cause of chronic stress, causing 25 percent of Americans to miss approximately 16 days a year of work
- American Psychological Association

Money worries are the world's greatest cause of stress.
- CNN poll, 2009

Ninety two percent of Americans are losing sleep over their finances.
- ComPsych

Why Provide Financial Literacy Resources in the Workplace?

According to a Hewitt Associates report that included a survey of companies on the availability of "financial security" programs, five years ago, only 2 percent of employers offered financial workshops to employees. In 2009-10, that figure jumped to 19% as more employees brought financial cooncerns to work.

Consider the effects of personal financial stress on workplace productivity:

• On-the-job errors
• Problems with co-worker and/or supervisor
• Long lunch breaks
• Taken paycheck advance
• Borrowed money from co-worker
• Frequent personal telephone calls
• Absenteeism
• Poor attitude
• Unenthusiastic about work

According to a poll by the Personal Finance Employee Education Foundation, more than 90 percent of those that responded said employee financial literacy is extremely important.

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