Employee Financial Distress

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PwC’s Employee Financial Wellness Survey 2019 results
PwC’s 8th annual Employee Financial Wellness Survey was conducted during the last two weeks of January 2019 and tracks the financial and retirement well-being of working U.S. adults nationwide. This year it incorporates the views of 1,686 full-time employed adults

Beyond Pensions: pension and the provision of wider financial wellbeing
This research of 200 employers shows, 88{21ff4f36868fa9830ff11f4d939007e345b08a69fa4833b8bf3a08fd16b9151c} of organisations are concerned about the financial issues their employees are struggling with and agree that there is a need for guidance. However, when it comes down to it, 49{21ff4f36868fa9830ff11f4d939007e345b08a69fa4833b8bf3a08fd16b9151c} of organisations currently have no defined financial wellbeing strategy in place and 60{21ff4f36868fa9830ff11f4d939007e345b08a69fa4833b8bf3a08fd16b9151c} do not provide any sort of financial education or guidance. (Aug 2018)

PwC’s 2018 Employee Financial Wellness Survey
U.S. employees still aren’t confident about reaching their long-term goals, and retirement plans continue to serve as a safety valve for more immediate needs. As employees stress over uncertainty regarding healthcare and are pressed to support both aging parents and adult children, employers have an opportunity to help. The Employee Financial Wellness Survey is a publication from PwC’s employee financial education and wellness practice. It tracks the financial well-being of full-time employed U.S. adults.

Financial Health at Work: A Prescription for Productivity
This infographic illustrates aspects and trends of employee financial health, from how financial stress at work hurts employee productivity to how investing in employee financial health is good for business. Center for Financial Services Innovation, January 10, 2018

Employees’ Financial Literacy, Behavior, Stress and Wellness
Robert Oton Parcia and Emeliza Torrento Estimo
October 2017

Special Report: Financial stress and the bottom line
Financial stress can have a major impact on employees, from greater health concerns to trouble with relationships and distractions at work. This same stress can also influence a company’s well-being, including potentially higher costs due to elevated healthcare plan use, lost productivity from distractions/ absenteeism, and lower savings for retirement or medical expenses. This special report, based on the results of our 2017 Employee Financial Wellness Survey, delves into data around stress and its impact on the financial well-being of both the employee and employer. Authors: Kent E. Allison and Aaron J. Harding, Employee Financial Education & Wellness, September 2017.

Employee Financial Health: How Companies Can Invest in Workplace Wellness , May 2017
This paper includes “spotlights” on what we consider the most innovative and effective financial products to address income volatility, unexpected expenses, and other financial health challenges confronting many American workers. Authors: Sohrab Kohli, Senior Associate, CFSI Rob Levy, Managing Director, CFSI

Financial Distress: Definition, Effects, and Measurement
Barbara O’Neill, Benoit Sorhaindo, Aimee Prawitz, Jinhee Kim & E. Thomas Garman

Household Financial Management: The Connection between Knowledge and Behavior
Marianne A. Hilgert, Jeanne M. Hogarth and Sondra G. Beverly

Employee Money and Credit Problems: EAPs Must Become Involved
Thomas Garman

Corporate Pensions and Financial Distress
Ying Duan, Edith S. Hotchkiss, and Yawen Jiao
2015

The Precarious State of Family Balance Sheets
The Pew Charitable Trust.
January 2015

Executive Summary Financial Wellness in the Workplace
SHRM
May 2014

Educating the Experts: Online Financial Education for Credit Union Employees,
Collins, Dietrich
2011

Financial Stress Research
Financial Finesse, Inc.
2011

Assessing Financial Wellness Via Computer-Assisted Telephone Interviews
Nielsen
2010

Employee Financial Distress, Emotional Health Risk, and Absenteeism
Proceedings of the EFERMA Conference
Prawitz, Haynes, Garman, Shatwell, Hanson, and Hanson.
2010

Employee Personal Financial Distress and How Employers Can Help
Research Works: The Partnerships for Workplace Mental Health
2009

Responding to Workers’ Financial Crises
Journal of Employee Assistance
2009, Price

National Stress Poll (Australia) Topline Report
Lifeline Australia, Orima Research
2009

Negative Health Effects of Financial Stress
Consumer Interests Annual
O’Neill, Sorhaindo, Xiao, & Garman
2005

Health, Financial Well-being, and Financial Practices of Financially Distressed Consumers
Consumer Interests Annual
O’Neill, Sorhaindo, Xiao, & Garman
2005

Financial Distress Among American Workers
Final Report: 30 Million Workers in America-One in Four-Are Seriously Financially Distresseand Dissatisfied Causing Negative Impacts on Individuals, Families, and Employers
Garman et al
2005

Financially Distressed Credit Counseling Clients and the InCharge Financial Distress Scale
Proceedings of the Eastern Regional Family Economics and Resource Management Association
Garman, Sorhaindo, Bailey, Kim, & Xiao
2004

Financial Stress, Pay Satisfaction and Workplace Performance
Compensation & Benefits Review
Kim & Garman
2004

Over the Limit: The Association Among Health, Race and Debt
Social Sciences & Medicine
Drentea & Lavrakas
2000

Age, Debt and Anxiety
Journal of Health and Social Behavior
Drentea
2000

The Negative Impact of Employee Poor Personal Financial Behaviors on Employers
Financial Counseling and Planning
Garman, Leech, & Grable
1996

The Effects of Gender, Family Satisfaction, and Economic Strain on Psychological Well-Being
Mills, Grasmick, Morgan, & Wenk
1992