How Employee Debt Affects Retention and Performance—and What Employers Can Do

In today’s economic climate, personal debt isn’t just an individual challenge—it’s a workplace issue. Financial stress among employees can significantly impact productivity, engagement, and retention. For employers, addressing financial wellness isn’t just the right thing to do—it’s a strategic advantage.

The Impact of Employee Debt on Performance and Retention

Research highlights the toll that personal debt takes on employees and their work performance:

💼 Reduced Productivity: Employees under financial stress spend an average of 13 work hours monthly dealing with personal financial issues (PWC, 2023).

📉 Increased Absenteeism: Financially stressed employees are more likely to take unplanned absences, disrupting productivity.

🔄 Higher Turnover: Employees with financial challenges are twice as likely to seek new jobs for higher pay (SHRM, 2022).

💔 Mental Health Decline: Anxiety and depression stemming from financial woes lead to disengagement and lower job satisfaction (Gallup, 2023).

What Employers Can Do

Proactive companies are helping employees tackle personal financial challenges. Here’s how you can take the lead:

1. Offer Financial Wellness Resources

Educate your workforce with tools to manage budgeting, debt, and long-term financial goals.

2. Partner with Debt Relief Programs

Integrating programs like My Debt Navigator into your benefits package empowers employees with:

✔️ Customized Debt Plans: Tailored solutions to fit their unique needs.

✔️ Expert Negotiation: Professionals who negotiate with creditors to reduce payments.

✔️ Fast Relief: Employees experience lower payments and reduced stress quickly.

The Best Part? It's FREE for employers to offer, and the initial consultation is free for employees.

3. Foster Open Communication

Create a culture where financial wellness is part of the conversation, eliminating the stigma around seeking help.

4. Provide Immediate Relief

Real results speak volumes: Employees have saved 48%-79% on monthly payments using My Debt Navigator, giving them more disposable income and peace of mind.

5. Support Employee Well-Being

When you show genuine care for employees’ financial health, you build loyalty, improve morale, and reduce turnover.

Why My Debt Navigator Works for Employers

🛠️ Simple Implementation: Easily add it as a voluntary benefit with no cost to you. 💡 Employee Benefit: Employees access personalized, confidential support at no upfront cost. 📈 Improved Outcomes: Reduced financial stress means happier, more productive employees.

Take the Next Step

Show your employees you care while boosting workplace performance. Start offering My Debt Navigator today—it’s free for you and easy to implement!

📞 Call us at 469-450-6108

📅 Or book a time at calendly.com/time4don/discovery-call

🌟 Empower your workforce. Improve your retention. It’s time to make a change!

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