Three in 10 (30 per cent) Canadian employees say their mental health is negatively impacting their work productivity and goals, according to a new survey by Telus Health.
The survey, which polled 3,000 workers, found employees without emergency savings were nearly three-times more likely to report productivity losses due to their financial situation. Financial stress was also linked to sleep disruption, loss of focus and reduced work quality.
Read: Survey finds 27% of Canadian employees say financial stress impacts productivity
More than a quarter of employees said they’re providing financial support or care to adult children or aging parents. Parents were 80 per cent more likely to report a decline in their mental health due to caregiving or financial responsibilities.
Among employees with caregiving responsibilities, 37 per cent said caregiving was negatively impacting their finances, while 15 per cent said it was affecting their work hours or income.
The survey also found just 52 per cent of employees believe their employer cares about their well-being and productivity, while half said they wouldn’t feel comfortable disclosing a mental-health issue to their manager. As well, 60 per cent of employees said they don’t understand their workplace retirement or savings programs.
The report noted employers can better support workers by integrating financial well-being, caregiving and mental-health supports.
Read: Meridian continuing to support employee financial well-being with living wage
