Seventy twopercent of employees say they worry about personalfinances while at work, and one-third say they do so more than oncea week. (Photo: Shutterstock)

When employees are worried about money, that drags on theirability to get their work done—and that can get expensive.

In fact, according to John Hancock's Financial StressSurvey of retirement plan participants, it can cost anemployer approximately $2,000 per employee per year—andthat can add up fast, especially considering that 72 percent ofemployee respondents owned up to worrying about personal financeswhile at work, and one-third say they do so more than once aweek.

Related: 10 findings on employee financialwellness

A little more than three quarters of respondents put the blameon a lack of retirement savings, with close to half sayingthat they worry about it “a great deal” and only 40 percentexpecting to retire “about when planned.”

The four next most worrisome money concerns:

• College loans (76 percent)
• Monthly rent payments (64 percent)
• Lack of emergency savings (59 percent)
• Overall current financial situation (62 percent)

All that worry over finances is triggering both physical andpsychological symptoms for about 60 percent of respondents, thestudy found, causing anxiety, lack of sleep and a feeling of beingoverwhelmed—all of which can affect workers' productivity on thejob.

If employers intercede to help fix those financial woes, itcould pay off, the report notes, pointing out that more than two infive respondents feel they would be more productive if they weren'tsitting there worrying about money. Three in five respondents thinkgetting financial advice at work would reduce their stress, whileand 65 percent think it would help them start saving more forretirement.

Asked which financial issues they would like help with, threequarters cited retirement income preparation aid, followed bySocial Security and Medicare claiming (60 percent) and debtcounseling (32 percent).

“Financial stress is one of the biggest concerns among ourparticipants—and it has implications for their health, healthcarecosts, and premiums, and ultimately, their productivity,” PatrickMurphy, president and CEO, John Hancock Retirement Plan Services,is quoted saying in the report.

Murphy added, “Our survey shows employers can play a role inmaking their employees' financial lives better—and if done well, itmay even benefit the company's bottom line.”

Boost your financial wellness resources foremployees: 

• Employee financial wellness: The power ofincentives
• How to design financial wellness benefits that arerelevant to employees
• Financial wellness in the age ofanxiety