Nearly half of all U.S. employees point to this as their reason for changing jobs.
By Gillian Manning
Financial stress doesn’t just hurt an employee’s mental health—it hurts employers’ bottom line too. The annual Employee Financial Behavior Report from Your Money Line, a financial wellness benefit provider, found that 46% of employees report financial stress as the reason for leaving their positions. Most of the nearly 1,300 surveyed employees (69%) report they’ve considered changing jobs or cutting back on hours because of financial challenges.
Financial stress doesn’t necessarily mean employees are strictly seeking raises. Providing additional resources could be the key. The majority of employees (72%) say that they’d likely use confidential financial coaching or wellness tools if their employers offered it.
Other key findings:
- 62% of employees say that financial stress has a major or moderate impact on their work productivity.
- 61% of employees without access to financial wellness benefits say they feel financially anxious on a daily or weekly basis, with 64% rating the impact of financial concerns on their mental health as a 6 or higher on a 10-point scale.
- Younger generations are struggling the most; 39% of Gen Zers surveyed and 35% of millennials surveyed report that financial concerns have had a significant or severe impact on their mental health.
“When financial pressure is driving people to leave their jobs, that’s something leaders can’t afford to ignore,” Peter Dunn, CEO of Your Money Line, says. “Employers who want to protect talent, improve engagement, and strengthen performance must recognize that financial wellbeing is foundational to workforce stability.”
