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Finances, Job Security: Stressing Out Employees


Workplace Options conducted a survey to develop catered programs, uncovering job insecurity and financial stress as today’s main concerns.

According to the survey, 50 percent of respondents listed the economy as the biggest impact on stress level. Fifty-two percent of respondents between 46-65-years-old blamed their stress on the economy and 15 percent pointed their finger to work-related issues.

Biggest Impact on Stress Level

Base

Age

18 to 29

30 to 45

46 to 65

Older than 65

Work

16%

28%

23%

15%

4%

Health

15%

10%

9%

16%

25%

Economy

50%

35%

49%

52%

49%

Family

19%

26%

19%

17%

23%

Source: Workplace Options

Fifty-four percent indicated their stress level increased within the past six months compared to 9 percent citing their stress decreased.

Change in Stress Level

Base

Age

18 to 29

30 to 45

46 to 65

Older than 65

Increased

54%

48%

59%

54%

45%

Decreased

9%

17%

3%

9%

11%

Remained the Same

38%

35%

38%

37%

44%

Source: Workplace Options

Finances was selected by 35 percent of respondents as a distraction at work. Recognizing the workplace concern, Workplace Options "offers financial consulting resources that provide comprehensive telephonic support and education to help employees avoid financial trouble and attain goals. Additional financial services include help with debt management, bankruptcy prevention, credit report review and access to Certified Financial Planners."

The second distraction at work noted by respondents is job security, affecting 24 percent of 18-29-year-olds, 27 percent of 30-45-year-olds and 19 percent of 46-65-year-olds.

Distraction at Work

Base

Age

18 to 29

30 to 45

46 to 65

Older than 65

Finances

35%

45%

38%

36%

26%

Relationship or Family Trouble

17%

13%

18%

18%

14%

Job Security

19%

24%

27%

19%

5%

Caregiving Responsibilities

10%

10%

12%

9%

12%

Health

18%

8%

6%

18%

44%

Source: Workplace Options

"Baby Boomers are experiencing a challenging time in this economy. They have spent their entire lives working toward a goal of retirement and some are now faced with the possibility of being sandwiched between the desire to retire and the need to make up for lost income, investments and savings over the past year," said Dean Debnam, CEO of Workplace Options.

On top of the realization that they might not retire when previously planned, "Boomers may feel insufficient in terms of technology and job flexibility compared to their younger counterparts," said Workplace Options.

"Delays in retirement compounded by fierce competition in the workforce can lead to immense stresson workers," said Debnam, "enhancing one’s skill set combined with workforce reentry training can ease fears of inadequacy in an older worker."

The survey was conducted by Public Policy Polling of 644 American workers. 

Address: Workplace Options, Corporate Headquarters, 3020 Highwoods Boulevard, Suite 100, Raleigh, NC 27604; (800) 699-8011, www.workplaceoptions.com.


© 2010 Health Resources Publishing