CHICAGO – Feb. 9, 2004 – Employees’ financial picture has worsened significantly since last year, according to ComPsych Corporation, the pioneer and worldwide leader in GuidanceResources^® (employee assistance programs, managed behavioral health, work-life and crisis intervention services). Calls for financial help have risen 69 percent from 2002 to 2003, with the majority of calls related to debt, refinancing and failed investments.

In a Tell It Now^SM survey, employees also reported a general lack of health in their financial picture. When asked how they would describe their financial situation, employees replied:
27 percent – I am one major setback away from financial disaster.
22 percent – I am worse off than last year, with less savings/income and more debt than before.
23 percent – I am about the same as last year, with no change in savings/income or debt.
22 percent – I am better off than last year, with more savings/income and less debt than before.
6 percent – I am in the best financial shape ever, with bountiful reserves and very little debt.

“Unfortunately, employees are grappling with the reality of unchecked spending,” said Dr. Richard A. Chaifetz, chairman and CEO of ComPsych. “Couples in particular are dealing with exploding debt as they try to maintain two-income lifestyles, even after one partner is laid off, or is working but underemployed.

“Many of these employees have been hit hard with the reality of their financial situation, and have called ComPsych’s FinancialConnect^SM service for help. Through a combination of financial, legal and even marital counseling, we focus on providing unbiased information for getting individuals on the right financial track, so that their financial problems will not follow them to work.”

The survey was conducted from Jan. 12 to 26, 2004, receiving responses from employees of more than 700 ComPsych client companies nationwide.