Sixty-four percent of employees report that financial stress is negatively affecting their work and personal life, while 82% of employers are worried about productivity. (Photo: Shutterstock)

More than nine in 10 U.S. employees faced financial stress in their personal lives this year, which reduced contributions to personal savings and employer-sponsored savings plans. Finances are a major source of stress among both employees and employers, according to the inaugural State of the Workplace Financial Benefits Study from Morgan Stanley at Work.

The study found that employees across all generations are struggling with their personal finances amid the pandemic. This has led employers to use financial wellness benefits in to reduce employee financial strain and drive productivity. Among the notable findings from the study:

Source: https://www.benefitspro.com/2021/12/10/personal-saving-takes-a-back-burner-to-employees-other-financial-stressors/