The Canadian Payroll Association's 17th annual celebration of National Payroll Week was a rousing success, with educational conferences held across Canada from Sept. 12 to 16.

Less inspiring were findings from the latest CPA National Payroll Week survey. Employees are struggling with money-related challenges both at home and in the workplace. This is somewhat surprising, given that:

• 90 per cent of survey respondents were employed full-time.
• Over half enjoyed household incomes of $80,000 or more.
• One third were executives, managers or supervisors.

Below are 5 obstacles to the financial well-being of Canucks currently on an employer's payroll.

Challenge No. 1: Living paycheque to paycheque.
According to the survey, 57 per cent of employees say they'd have difficulty paying their bills if their paycheque was delayed by just one week.

The root cause of this problem is inadequate savings. Three-quarters of employees are either not trying, or are unable to, save enough money to cope with current economic uncertainties.

Tip: Set up automatic payroll deductions to build at least six months' worth of emergency savings.

Challenge No. 2: Working in stress for less.
Compared to a few years ago, almost 60 per cent admit that they feel more stressed about work, are more fatigued on the job, work longer hours for the same pay and are increasingly worried about losing their jobs.

While many Canadians work longer and harder, 60 per cent project that their cost-of-living expenses will increase by at least 3 per cent over the next 12 months. Yet only 25 per cent expect their earnings to increase by the same amount.

Tip: Ask your employer about available stress-management programs and personal finance counseling.

Challenge No. 3: Fearing job loss.
If they lost their job, three-quarters of respondents say it would be difficult to find a comparable position that paid a similar salary. Thirty-eight per cent believe they would need at least six months to find equivalent work, while 8 per cent believe their job is irreplaceable.

Ironically, 85 per cent of Canadian employees are optimistic that their local economies will either stay the same or improve.

Tip: Focus on new opportunities matching your interests and skills that can generate future cash flow.

Challenge No. 4: Retiring without enough money.
One of the most disconcerting survey findings is that 74 per cent of Canadian employees have saved less than 25 per cent towards the minimum $500,000 they believe will be required for retirement.

The underlying driver for this concern is that a whopping 76 per cent are saving 10 per cent or less from their paycheques. "Wealthy Barber Returns" author Dave Chilton recommends tucking away at least 15 per cent of gross earnings, starting at the earliest age possible.

Tip: Check with your employer about available group pensions and Registered Retirement Savings Plans.

Challenge No. 5: Working past retirement age.
Forty per cent of Canadian employees say they expect to retire later in life than anticipated five years ago. The biggest reason for these Canadians' prolonged work lives is poor retirement savings planning.

Another 14 per cent concede that stock market downturns have harmed their investment portfolios so much that they have to work to cover ongoing expenses. A similar percentage of older Canadians are more upbeat and continue working simply because they enjoy their jobs.

Tip: Qualified financial planners can help you develop an effective retirement savings plan.

See related: Tax-Free Savings Accounts: 7 smart strategies; Author Q&A: Debt and "The Happiness Equation"