Before the pandemic, the number of individuals who reported feeling moderate or extreme financial stress was 39%, but during the pandemic, that number has risen to 62%. The reasons for the increased stress are attributed to several financial concerns.
As a human resource manager, you have had the most challenging job of all. Human resources centers around people—the people who make your organization’s identity. As HR professionals, you support colleagues, some of who are their closest friends. You help your peers navigate payroll, benefits, training sessions, best practices, hiring, terminating, furloughing, and much more. These business functions were tough enough to manage before the pandemic, sometimes even underappreciated, but now you have to show up, encourage your peers, and roll out and communicate this changing work dynamic in a world full of unknown, not just for them but for you.
The pandemic has impacted many people’s mental health, and almost a year later, many of us are struggling with COVID fatigue. Even though many of us don’t feel like pushing on, we still have to show up. Here are five strategies to help you keep your focus while building a strong financial base and growing wealth.
The word resiliency is defined as “the capacity to recover quickly from difficulties, toughness.” This is often used relating to physical wellness and stamina and the ability to recover from an illness. Financial resiliency is the ability to recover from an unexpected financial burden, like a medical bill or car repair that you didn’t see coming.
We surveyed over 26,000 full-time working adults who have employer-sponsored health care coverage, and over 20% were currently delaying medical or dental care because of the cost. Taking control of your finances shouldn’t mean the choice of being healthy or unhealthy. But unfortunately, for one out of every five insured adults surveyed, it does.