In the latest TELUS Mental Health Index (MHI) report for Canada, we examine how financial stress cascades through three interconnected challenges facing HR leaders today: caregiving burdens, workplace trust and employee productivity.
Struggles of the ‘sandwich’ generation
- More than a quarter of workers are providing either financial support or care to adult children or aging parents.
- Parents are 80% more likely to report mental health decline from caregiving or financial responsibilities.
- 37% of caregivers experience a negative impact on their finances, and 15% report a negative impact on their work hours or income.
The trust gap preventing help-seeking
- Only 52% of employees believe their employer cares about their wellbeing and productivity.
- Half of employees are not comfortable disclosing a mental health issue to their manager.
- 60% of workers don't understand their workplace retirement or savings programs, preventing them from accessing available support.
Productivity collapsing under pressure
- 30% of workers report their mental health is negatively affecting their work productivity and goals.
- Financial stress creates cognitive overload - manifesting as sleep disruption, loss of focus, and reduced work quality.
- Workers without emergency savings are nearly 3x more likely to report productivity loss due to their financial situation.
The opportunity is clear: organizations that integrate financial wellbeing, caregiving support and mental health resources can break the cycle and protect both their people and the bottom line.
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This MHI report is based on a survey of 3,000 workers in Canada. It provides insight into the mental health of employed adults and the trend over time.
What is the TELUS Mental Health Index (MHI)?
The TELUS Mental Health Index (MHI) is a world-class quarterly research report that measures the full continuum of the mental health status of employees, providing organizations with actionable insights to enhance workplace mental health and wellbeing strategies.
- Track mental health trends over time: See how global events such as recessions, pandemics and political shifts are impacting the mental health and productivity of your workers' helping you gain insights into the specific support to provide.
- Identify factors impacting employee mental health and wellbeing: Dive into the data to understand how to enhance both health and workplace outcomes.
- Benchmarks by industry: Access industry-specific data to see the concerns that are more prevalent in your industry – helping you be more precise in your understanding of your employees' needs and helping you make more informed decisions.