Numerous research projects have concluded that financial stress is a major contributor to poor mental health and negatively impacts general wellbeing.
AMP has published a report on financial stress, with their research indicating that two in five Australian workers will experience financial stress during their careers with nearly half feeling financially stressed for an average of six and a half years or more.
The Australian Psychological Society has also published research into stress which indicated that financial concerns are a leading cause of stress. 49%, or nearly half of their research study reported financial reasons for elevated stress levels that had an impact on both their mental and physical health.
Employees troubled by their financial circumstances take an extra 2.4 sick days per year and spend almost an hour per week dealing with money problems at work. This means good financial management would be a bonus for employees and employers alike.
In response, PeopleSense by Altius has extended the scope of the EAP service to incorporate financial coaching as part of our wellbeing packages. We can refer to an experienced financial consultant, to:
- Assess you current financial situation;
- Build your knowledge and understanding of financial matters; and
- Provide a money management plan and guidance on home budgeting matters.
(Please note our consultant has no affiliations or connections with any product providers, banks, financial institutions or super funds. They will not request access to your money, or invest on your behalf).
If you are an employee who would like to know whether financial support is included in your EAP offering, or you represent and organisation who would like to enquire about including the service for your employees, contact PeopleSense by Altius on 1300 307 912