Financial Wellness a Big Stressor for Employers & Employees

We have heard a lot about inflation in the last few weeks as the economy gets up and running again, and many people have been feeling stress about this.  This should be a big concern to employers, too, according to the Financial Consumer Association of Canada.    The issue will also be addressed at Virtual DAC Acuity 2021, October 17-19 with special guest speaker Dr. Brian Shaw, a well-known sports psychologist for the Blue Jays and author who has written about stress management for top financial professionals.  Financial advisors can help; here’s what you should be thinking about:

According to the FCAC website, almost half of working Canadians admit that stress related to their personal finances affects their performance at work?  In fact, people who are financially stressed are 5 times more likely to be distracted at work. 

This costs companies big money.  The FCAC notes that based on a company with 200 employees, this distraction could amount to close to 8000 hours of lost productivity in a year, costing businesses $1000 per employee or just over $200,000 per year.   As the world emerges out of a devastating pandemic and into unprecedented economic changes, financial wellness issues are more likely to plague your employees and clients, and ultimately your bottom line.

What to do if these stressors start effecting you? Financial advisors need to think about their own self-care, too.  In Bullish Thinking, Dr.  Brian Shaw and his co-author tell hard-hitting true stories of financial professionals who have faced the many job stressors that fill this competitive industry providing tips for action-oriented approaches that will help you survive and thrive during even the toughest times.

Dr. Brian F. Shaw is one of the originators of applied cognitive-behavioural psychology for clinical practice, particularly mental health and addiction problems. He is an expert on how the mind works, how it gets de-railed and how to get it back on track. He is best known for his work in sport as the Psychologist for the Toronto Raptors, Blue Jays, and numerous pro athletes and Olympians, and director of the Substance Abuse and Behavior Health Programs for the NHL and MLS.   Dr. Shaw has also counselled brokers and others stressed by the demands in the high stress financial services.  

Be sure to register for DAC Acuity 2021, October 17-19 to hear Dr. Shaw’s speech on MANAGING MENTAL HEALTH: TAKING CARE OF OUR HUMAN RESOURCES and ask your most pertinent questions about surviving and thriving as the world recovers from COVID-19. Be sure to enroll by the September 30 early registration deadline, and check out the full agenda here.