Two-thirds (65 per cent) of Canadian employees say they’re stressed about their finances and a quarter (27 per cent) say this stress impacts their productivity at work, according to a new survey by Wealthsimple for Business.
The survey, which polled more than 500 respondents who identified as full-time employees, found nine in 10 (91 per cent) said financial benefits such retirement savings plans impact their commitment to their employer.
Read: 58% of workers aged 40 to 60 say financial stress is their top worry: survey
Two-fifths (38 per cent) said they value large employer contributions to their workplace retirement savings plan and roughly a quarter said they’re interested in contributing to group registered retirement savings plans (28 per cent) and group tax-free savings accounts (23 per cent).
The survey also found a quarter (26 per cent) of Canadian employees — a percentage that increases to 35 per cent among generation Z — are prioritizing saving for a home over retirement (20 per cent). Notably, a fifth (17 per cent) of all respondents and a tenth (nine per cent) of gen-Zers said they’re prioritizing saving for an early retirement.
Read: Wellness programs key to keeping financial stress out of relationships: expert
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