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· Posted on
February 21, 2024

AMP's biannual survey tells us everything we already we know.. we're all getting more stressed!

The AMP had just released the results of its biannual financial wellbeing survey... and the revelation is stressing but not surprising.

What's the key learning?

  • According to the biannual financial wellbeing survey of the AMP, 953,000 employees are severely financially distressed and more than two million are moderately stressed.
  • AMP reckons that while cost of living is crunching across all income levels… part time workers, single parents and women are feeling it the most.
  • According to the AMP report, employee distraction is estimated to have cost businesses and the economy $66.8 billion which is more than double the $30.9 billion estimated in 2020.

👉 Background: Inflation is up, interest rates are up, lettuce was up. Now, AMP, the Aussie financial services company, has just released the results of its biannual financial wellbeing survey. And the results shouldn't surprise anyone.

👉 What happened: 953,000 employees are severely financially distressed right now, and more than two MILLION are moderately stressed.

👉 What else: AMP reckons that while cost of living is crunching across all income levels… part time workers, single parents and women are feeling it the most.

What's the key learning?

💡 While the words ‘cost of living’ and ‘inflation’ are often thrown around willy nilly, the direct impact of these significant changes are rarely addressed.

💡Financial stress is the double whammy that nobody asked for.

  • On a personal level, it isn't just tough on bank accounts - it brings feelings of shame, anger or fear.
  • On a business level, it leads to lower productivity and lost motivation too.

💡According to the AMP report, employee distraction is estimated to have cost businesses and the economy $66.8 billion. That’s more than double the $30.9 billion estimated in 2020.

‍

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