Financial counselling boosts EFAPs

In offering service, Nova Scotia Health Authority hopes to reduce stress among employees
By Marcia McDougall
|Canadian HR Reporter|Last Updated: 08/07/2015

Everyone has money issues. For some, however, financial problems are real stress inducers, pre-occupying their thoughts and even affecting their physical and mental health. When employees are suffering from financial stress, their workplace productivity may be negatively impacted. In times of organizational change, particularly where jobs are at risk, financial stress can be exacerbated. 

Employers, however, have become more aware of just how stressful financial issues can be for employees since the 2008 recession, says Stephen Liptrap, executive vice-president at Morneau Shepell in Toronto.