Stress, finances, and well-being: driving behaviours that matter
Our third annual survey of Canadian workers reveals how they’re coping in this economic climate—and support that makes a difference.
Economic conditions are causing financial stress
Rising interest rates, soaring inflation, and current economic conditions are causing financial stress. Almost three-quarters of Canadian workers are concerned about their level of financial stress.

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Top 5 financial worries
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1
Credit card debt
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2
Emergency savings
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3
Having enough saved for retirement
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4
Repaying student loans
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5
Overall financial situation
Financial stress among workers is a real cost for employers
As much as people try to keep their personal and work lives separate, many find it hard to leave their financial concerns at the door. And this added distraction is affecting job performance—making financial stress both a business concern and a real cost.
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79%
say access to these resources reduces financial stress
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75%
would be more likely to stay with an employer who offers them
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73%
would recommend the employer to others
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66%
say access to these resources increases productivity
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Those who have a financial advisor are:
- In a better financial situation
- More likely to feel good about their mental health
- Having an easier time saving money
- More likely to be on track to retire
- Less likely to worry about affording basic expenses in retirement
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Digital interactions help fuel financial preparedness
46%
of respondents use a desktop computer or a mobile app to access their retirement information each month (or more often).
Most prefer to manage many retirement tasks online instead of with a service representative.
Important disclosures
This year’s survey was conducted with 1,551 Canadians using Angus Reid’s research panel. The survey was conducted in English and French from November 28, 2022, to December 8, 2022, with an average survey length of approximately 17 minutes per respondent. Survey respondents were age 18 and up, were employed, and contribute to an employer-sponsored retirement plan. Differences in trend data from the prior year are noted throughout the report. Due to a change in the panel partner, sample composition, and questionnaire content, not all data can be trended. The maximum margin of sampling error at the 95% confidence level is ±2.3%. Percentages in the tables and charts may not total 100 due to rounding and/or categories not included. The 2022 Stress, finances, and well-being survey was commissioned by Manulife and John Hancock Retirement and conducted by Edelman DXI. Manulife is not affiliated with Edelman DXI and neither is responsible for the liabilities of the other. The commentary in this publication is for general information only and should not be considered legal, financial, or tax advice to any party. Individuals should seek the advice of professionals to ensure that any action taken with respect to this information is appropriate to their specific situation.
The cost of stress is a hypothetical illustration used for informational purposes only, based on data from Manulife’s 2022 stress, finances, and well-being survey. This calculation is intended to provide general information about how much financial stress can cost a company every year. The calculation is based on missing 5.6 hours/year and 28.8 hours/year of lost productivity due to symptoms of financial stress with an assumed salary of $51.92/hour. Individual circumstances may vary: the example may not be reflective of your situation.