Overwhelmed. Burned-out. Exhausted. No matter how you say it, American workers are stressed. In the last six months, 60% of WorkLife clients reported that their stress levels negatively impacted their work and home lives. According to the American Psychological Association, the high cost of living and healthcare expenses are to blame for American’s rising stress levels—with 72% of adults feeling stressed about money at least some of the time.
More than 40% of Americans can’t afford to cover an emergency expense of $400 or more. And for those who are just getting by, one financial setback can set off a snowball effect, causing challenges that grow in severity as they goes unresolved. When employees reach out to WorkLife Partnership, it’s rarely because they’re facing just one barrier. In fact, the average WorkLife client reports experiencing six or more barriers at once. When one challenge turns into two and two into three, your employees could find themselves up against issues that are insurmountable—unless they have support.
When I moved to Colorado to start a new job, I knew that I would have the same salary, but the cost of living was 200% what I was accustomed to in Kansas City. I also owed significant debt to the IRS due to an error. I was having a hard time digging out from this tax debt, and I was scared about how I was going to make things work financially in Colorado. On top of that, I ultimately wanted to get into a place of my own since the cost of real estate was skyrocketing.
WorkLife understands the impact that financial instability, and the stress associated with it, can have on both your employees and your business. First, we help our clients overcome immediate financial hurdles and then we work with them to establish a household budget. To support them in achieving longer-term financial goals, WorkLife leverages our relationships with community partners.
Almost 80% of metro Denver residents commute to work by car, with more than 20% spending an hour or longer to get to their jobs. When adding up the cost of gas, insurance, car payment, tolls, parking, and routine maintenance, the average worker can spend more than $7,500 per year on transportation alone.
With headlines like “Colorado employers stretched thin by tight labor markets” and “Worker shortage will hold back Colorado’s economic growth in 2018” appearing regularly in local news coverage this year, it should come as no surprise that we’re amidst a […]
