News You Can Use: Workers fear losing retirement savings

Employees aren't immune to the news reports of millions of Americans losing trillions of dollars in collective retirement income, and the news that increasing numbers of organizations are freezing their retirement plans, suspending matching contributions or both is heightening anxiety about their futures.

A new survey by Workplace Options finds that 59% of employees are concerned that money from their pensions and 401(k)s won't be there when they need it.

Dean Debnam, Workplace Options CEO says the worry causes a vicious cycle, as layoffs beget financial worries that decrease job performance and put employees in the line of fire for layoffs. "This, coupled with financial worries, can spell disaster for a worker's emotional and physical wellbeing, as well as overall productivity."

Even if your company is suspended its matching contributions -- which I strongly advise against -- or otherwise making retirement plan cutbacks, be sure to communicate with employees in a way that doesn't send them into a tailspin. Click here to listen to our podcast with communications expert Dennis Ackley and read the accompanying article, “Softening the blow of bad benefits news,” in the February EBN.

Tip of the Day: Make your EAP more than just three letters

An alternately sad and scary article in USA Today shows that even for Americans who are working, the affects of the recession are far-reaching and can't be compartmentalized into separate "work" and "life" boxes.

The newspaper reports increased demand for therapists to help stressed out families with anxiety, depression and physical abuse. For employees, a workplace employee assistance program can provide much-needed help. Most employers now have one, but communication still lags.

A new "Five Minutes With ..." podcast with clinical psychologist Edward Trieber spoke with EBN Managing Editor Leah Shepherd about how employers can best communicate their EAPs and other benefits to help alleviate employee stress. Click here to download the audio.

What programs/policies are in place at your company to help employees with stress? Have you seen an uptick in demand for/requests about these services? Comment below.

More from EBN: Finances running low, stress running high: Employee stress levels rising as economy declines