It’s probably not a surprise to hear the recent economic uncertainties and turbulent financial markets could be adding to the personal and financial stresses of you and/or your employees.

A recent report by employee assistance providers Shepell.fgi says they saw a 13% increase in the number of people who contacted them on financial issues in the second half of 2008, compared to the same period in 2007.

Even prior to the recent financial upheavals, there were signs that Canadians were struggling trying to save for retirement. “Two-thirds of Canadian households are currently saving at levels that will not generate sufficient income to cover their non-discretionary expenses in retirement.”  (Source - 2007 Planning for Retirement: Are Canadians Saving Enough - Canadian Institute of Actuaries)

It is important to understand the relationship between financial stress and employee productivity. As an organization, you may want to consider offering assistance, such as:

• An Employee Assistance Program with a strong financial counselling component
• Wellness sessions related to financial heath 
• Pre-retirement planning/lifestyle transition workshops
• Access to individual financial advice