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Job Security Fears Grow Amid Economic Crisis
Workplace Options Survey Shows Value of Work-Life Services in Uncertain Times
Contact:
Christine Hall
chall@capstrat.com
919-882-1998
14 October 2008 – Raleigh, NC – A national survey of working adults commissioned by Workplace Options (WPO), the largest provider of work-life employee benefits in America, revealed that employees are growing increasingly concerned about job security amid the current economic crisis. As the situation continues to broaden, they are also preparing for setbacks by cutting back on personal spending.
Nearly half of the employees surveyed said they are worried that their jobs are at risk, and over half are cutting back on their spending because of that fear. Forty percent of respondents said that their employer has not done enough to explain how the financial crisis could affect their workplace. In addition, nearly a third of respondents said they are working more hours and taking less time off, and 25 percent said they are actively looking for a new job or updating their resume that because of the growing unease.
With the instability of stock market other financial indicators, workers may find themselves more distracted and struggle with personal and financial worries. Because of the current economic pressures, employers are recognizing the value of work-life services to maintain morale among employees and protect their bottom line. Work-life services, provided by WPO, can help reduce worker anxiety over the competing daily demands of work, finances and family by saving time and facilitating proactive solutions. WPO provides personalized assistance over the phone, and a Web site allows employees to search for information independently. Employees can get access to financial management resources --including debt management, budgeting or foreclosure prevention – as well as resources for counseling, day care and other services that meet their specific needs. Employers also reap the benefits of these tools because they help maintain productivity and morale during national, workplace and personal crises.
“The economic situation is a major distraction for everyone right now,” says Alan King, president of Workplace Options. “Employees are worried about their jobs, finances, families and even health. Because of these pressures, WPO is experiencing a surge of calls about financial and emotional counseling. Now more than ever, employers are recognizing the value and convenience of work-life services to help workers navigate these tough times, empower their workforce and maintain productivity.”
The national survey, conducted by the North Carolina firm of Public Policy Polling on Sept. 26-27, polled 452 working Americans. The survey has a margin of error of ± 3.7%.
About Workplace Options
Workplace Options helps employees balance their work, family and personal life in order to make their lives healthier, easier and more productive. The company's world-class employee support and work-life services provide information, resources, referrals and consultation on a variety of issues ranging from dependent care, legal and financial issues to stress management and wellness.
Drawing from an international network of credentialed providers and professionals, Workplace Options is the world's largest integrated employee support services and work-life provider. Service centers in Raleigh. N.C., London, Toronto and Dublin support more than 32 million employees in 20,000 organizations, across 170 countries. To learn more, visit www.workplaceoptions.com.
© 2012 Workplace Options, Inc. All rights reserved.
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