COVID-19 & CARES ACT
2020 CARES Act: Repay employee student loans up to $5,250 tax-free, extended through December 31, 2025
The incessant stress and anxiety of the pandemic has worn employees down: December marked the lowest levels of employee well-being since the start of the pandemic, according to the Mental Health Index by Total Brain and the National Alliance of Healthcare Purchaser Coalitions.
Employers who help repay employee student loans take a big step in forming lasting trust and partnership with valued staff.
The Eagle Hill survey found that workload was the top reason employees were feeling burned out. The average workday has increased by an additional three hours during the pandemic, according to NordVPN Teams, a remote software provider.
Burned out employees are less productive and more likely to suffer from other health issues, like depression, high blood pressure and substance use disorders. Burnout, when not addressed, costs employers $125 to $190 billion in lost productivity and healthcare costs, according to Gallup.
Optional, but highly
The CARES Act