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Blogging for Change Blogging For Change
by sitecore\kmcgrigg on May 29, 2009

According to the Personal Finance Employee Education Foundation (PFEEF), one out of three school, hospital, and technology employees reported they were so sad or down they could not perform the tasks expected of them at work—and that their depressive symptoms were directly related to high levels of financial distress.

The PFEEF also found that financially unhealthy employees are also likely to be less physically healthy. Financially stressed employees were found to be more likely to smoke, eat unhealthy diets, be overweight, and are less likely to exercise regularly.

The downside to the employee is obvious; however, there are also significant consequences for the employers. For example, financially stressed employees are often less productive and miss work more often. In fact, PFEEF’s Director of Research estimates that financially stressed employees waste 12 to 20 hours of work time per month dealing with personal financial matters.

In other words, an individual’s bottom line directly impacts their employer’s bottom line.

If you are an employer, it is worth your time and effort to improve your employees’ financial wellness. Thankfully, there are organizations that offer free workplace counseling and education. If you’d like more information about implementing an employee fiscal fitness program, contact MMI’s education division.

 

Comment(s)

PS says:
May 29, 2009

I can personally attest to this. While working a previous job I missed a significant amount of work because of my stress levels coming from financial obligations. I was lucky enough to get things worked out before I lost my job, but it's a difficult downward spiral for many: You need the job to help your financial situation, but your situation is so bad you practically can't do your job. You also start feeling like you are working for nothing. Busting your tail every day but knowing that on payday you still might not even be able to buy your family dinner because of all the bills you've stacked up. Good article.



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