If it’s well-being you seek, then pay off your debt and start exercising. That’s the conclusion drawn from a study of employees conducted by Fidelity Investments in conjunction with researchers at Stanford.
The survey of more than 9,000 employees finds that 56 percent of employees say they experience a reduction in stress after beginning an exercise regime, while 71 percent say it makes them feel happier and 38 percent say it makes them more motivated at work.
Ditching an exercise habit, on the other hand, leads more than half of employees to become more stressed, while 69 percent become less happy and 20 percent become less motivated on the job.
Debt is also a major downer for many, which does not bode well for employers whose workers are increasingly saddled with student loans and big credit card bills.
Women, who increasingly the primary or sole providers for children, are much more likely to say they are deeply bothered by taking out loans. Seventy percent say that debt has increased their stress levels, while just under half of men say the same. Similarly, women were more likely to say that getting rid of debt makes them happier and reduces their stress.
Experiencing a reorganization at work is another major driver of stress, the study finds. Young people and women are particularly likely to be negatively affected by a big work change, with half of millennials saying that it has caused them to lose sleep and 63 percent of women saying that such changes have led them to have less satisfaction with their careers.
The study also shows that it is not just the burdens of parenting that serve as a barrier to career fulfillment, but the burden of caring for aging parents. Just as women continue to spend far more time than men caring for children, they are more likely to experience negative effects from caring for older relatives.
More than three-quarter of women report being more stressed as a result of becoming a caregiver for a sick or elderly loved one, compared to two-thirds of men, and half of women say they have lost sleep over the matter, compared to only a third of men.
Of course, just as empty nest baby boomers begin dealing for their aging parents, many of them are also dealing with adult kids moving back into the home because of a lack of good job opportunities. Two-thirds of such parents reported higher stress levels as a result of housing an adult child.
The different life events that are shaping employee well-being offers employers an opportunity to offer assistance, says Katie Taylor, vice president of thought leadership at Fidelity, in an interview with BenefitsPRO.
Employee assistance programs are “something that many employers offer but not many employees take advantage of,” she notes.
Reaching out to employees to let them know about resources to help them manage their finances, our learn how to deal with an aging parent, could go a long way in helping workers reduce stress and become more productive and engaged at work, she says.
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