Hartford Releases Study Shows Americans Still Struggling Financially
HOUSTON, TEXAS (November 20, 2012) – VISICOR, an employee benefits brokerage and consulting firm serving the Houston area, is sharing with clients results of a new study by The Hartford which indicates American workers are still stressed by the state of the economy.
With the U.S. economy still looking pretty fragile, nearly three-quarters of Americans are worried about their jobs and are trying to make ends meet, according to this recent national survey. The discouraging survey results show Americans are working more, spending less, but still find themselves struggling financially.
“Thirty-seven percent of consumers said they feel they have experienced ‘severe’ financial impact due to the recession. Many have made cutbacks in their spending, dipped into savings and retirement accounts, or taken on new jobs,” says Ron Gendreau, executive vice president, The Hartford Group Benefits.
In addition to the financial strain, workers also are feeling the pressure of doing more with less at work, The Hartford finds.
* 24% say they have additional work or an increased workload.
* 17% say they feel as though they need to put in more hours at work.
* 72% feel moderately stressed, and one-third feel very or extremely stressed.
Now, some might be thinking, “I feel bad for employees hurting financially and that they’re all so stressed. But what’s that got to do with me?”
Quite a bit, it seems.
When asked how stress is impacting their work environment, employees’ top answers were having less patience with co-workers (38%) and taking longer to complete work (19%).
So, employees are getting less done and are snippy with their co-workers while they’re doing it. Not exactly a healthy culture, right?
However, The Hartford finds that employees who are very satisfied with their benefits are the least likely to report high stress, which would indicate that benefits can play a key role in providing American workers a greater level of security, and hence, less stress.
Based on the findings of The Hartford study, VISICOR is working closely with its clients to provide quality benefits services that are a good value for businesses, and helping companies provide greater security to their employees. Employee benefits play a significant role in employee productivity and attitude, and may help shield businesses and employees from some of the effects of the current recession.
VISICOR is a full-service employee benefits brokerage and consulting firm located in Houston, Texas, serving mid-size to large public and private organizations. VISICOR can be reached by phone at (281) 824-3124 or at www.visicor.net.