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Most Canadians would take a pay cut for better well-being support

Individuals at all income levels say they are stressed about their finances and 42% feel they are struggling more than others who earn the same.

A survey by Morneau Shepell shows that 51% of respondents reported financial stress. Stress is such a big issue for Canadian workers that more than three quarters said they would consider leaving their current organization for the same pay if their new workplace offered better support for their personal well-being; 60% would leave for less money but better personal well-being support.

"When it comes to financial stress, the surprising reality is that it's an issue affecting individuals at all income levels," said Paula Allen, senior vice president of research, analytics and innovation. "As well, the fact that Canadians are feeling extreme financial strain but are still willing to accept less money for mental health support speaks volumes. Mental health support needs to be about seeing the full picture and providing the support necessary to help Canadians deal with difficulties across all areas of their well-being, including physical, financial and social, as well as mental."

Financial stress is affecting not only mental health but also workplace productivity and attendance, the survey found.

by Steve Randall

January 2020



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