America's Charities | February 20, 2024

World Sleep Day

World Sleep Day, which takes place on March 15th in 2024 ( March 14, 2025 for those who like to plan ahead), was founded by the World Sleep Day Committee to educate the public on ways of lessening the burdens of sleep problems.

Many of us know we don`t get enough sleep and think we can make up for lost hours on weekends or holidays – yet few of us prioritize the importance of sleep.

Chronic sleep deprivation can impact multiple aspects of our lives, including health, work performance, and even financial wellness. According to MoneyGeek.com:

  • Excellent sleepers tend to have more savings: 70% said they saved money to prepare for their children’s college education; 63% saved for unforeseen expenses; 54% saved for medical expenses; 58% saved for retirement. Meanwhile, poor sleepers reported that they struggle with their finances.
  • Sleep disorders contribute approximately $94.9 billion in health care costs in the U.S. every year.
  • Racial and ethnic minorities tend to experience a lack of sleep. Black, Hispanic/Latino and Chinese adults reported shorter sleep duration (less than six hours). They are also likely to report poor sleep quality — at 8.3%, 6.7% and 6.6%, respectively. In comparison, white Americans typically spend 6.05 hours sleeping, with 5% reporting poor sleep quality.

While there are numerous causes that contribute to sleep disorders and low sleep quality, 64% of adults say that money is a significant source of stress in their life. This is something employers can actually help employees address through an Employee Assistance Fund (EAF), also known as an Employee Relief Fund or an Employee Crisis Fund. EAFs can be used to provide financial support to employees impacted by disasters, personal emergencies, and other financial hardships that might be keeping them from getting the rest they need to feel well and perform well at work.

This World Sleep Day, launch an Employees Assistance Fund (or lay the groundwork to start one). If you already have an EAF, don’t forget to remind employees about this incredible employee benefit to show them you care.

Ready to get started or want to learn more? You can learn more about the benefits of working with America’s Charities as your EAF partner here.

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