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Employees Gloomy About Finances
More than half say they are worse off now than they were a year ago.
By Garry Kranz
Recommend 0
Workers’ Money Woes: HR directors may want to take the temperature of their
workforces, given the volatility recently seen on Wall Street. About 56 percent
of employees believe they are worse off financially than they were a year ago,
according to ComPsych, an employee assistance provider in Chicago. Contributing
to the uneasiness are fluctuations in the stock market, flat wages and worries
about overextended credit, especially regarding home mortgages. Only 16 percent
said their financial outlook improved, with a smaller number of people (4
percent) claiming to enjoy their best financial position ever, “with bountiful
reserves and very little debt.”
Workforce Management contributing editor Garry Kranz is based in Richmond, Virginia. E-mail editors@workforce.com to comment.
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Index: Quick Takes — August 21, 2007
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