Stressed Out? Finances No. 1 Contributor to Employee Stress, But Lincoln Financial’s New Research Shows Solutions

Lincoln Financial Group

RADNOR, PA — Increased stress levels are taking a physical and mental toll on employees across the country, with concerns around finances being a top contributing factor. New research from Lincoln Financial Group (NYSE:LNC) shows that 93% of employees surveyed feel stressed, with 32% saying this stress has negatively impacted their ability to focus on improving their health and well-being.1

One of the top sources of employee stress is finances, with 84% of stressed employees saying finances are a factor, including 50% who say finances are a major source or their biggest stressor — more than their work or personal relationships.2 Ensuring that employees have the right benefits and protections in place, along with access to financial wellness resources, can help ease some of this stress. Of those who have used financial wellness resources, 77% say they’ve had a positive impact, and 69% say the support helped reduce the amount of stress they feel about finances.3

“Financial health and physical health are often interconnected, and employees are looking to their employers more and more for support and resources,” said Sharon Scanlon, senior vice president, Customer Experience, Marketing and Transformation, Lincoln Financial Group. “Our Workplace Solutions organization is committed to helping our employer partners by offering a full suite of benefit protections and retirement options, in addition to financial wellness and mental well-being resources that help drive positive outcomes for employees and their families.”

Well-being resources and support through Lincoln WellnessPATH®

Lincoln continues to expand its financial wellness program through its proprietary financial wellness tool, Lincoln WellnessPATH®, available to all Workplace Solutions customers. Designed to improve financial health and management skills, the easy-to-use tool helps employees learn about investing, saving and budgeting with the ability to set goals and track their financial status. Through WellnessPATH®, users also have access to Lincoln’s Financial Wellness Marketplace, which connects individuals with partner companies that offer solutions to help them work toward their financial goals, including student loan debt support.

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In support of Mental Health Month, the company has also launched a new “Mental well-being in the workplace” website, which includes resources for both employers and employees around benefits, wellness programs and accommodations, including support with:

  • Defining the problem: Understanding how common both relatively minor and more serious mental health problems are in the workforce and how they can affect productivity and morale.
  • Identifying solutions: Benefits and accommodation options for employees who work at home or in the office.
  • Reducing stigmas: Create a company environment in which employees feel comfortable asking for help with mental health issues.

“Mental health challenges can significantly impact an employees’ ability to conduct their daily activities, both at home and at work,” said Scanlon. “Ensuring employees feel fully supported and educated on the benefits available to them can help employers improve employee outcomes while strengthening their business.”

Visit Lincoln’s “Mental well-being in the workplace” site for more information.

1 Lincoln Financial, Consumer Sentiment Tracker, 1Q 2023
2 Lincoln Financial, Consumer Sentiment Tracker, 1Q 2023
3 Lincoln Financial, Wellness@Work: Retirement, 2023

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