Dollars and Stress

Money may not live up to its reputation as the root of all evil, but it can sometimes feel that way.

Financial stress is one of the leading causes of stress in Americans, and those who experience it risk paying the price with their health.

Worry over personal finances can lead to problems such as sleep disturbance and depression, which themselves affect almost every aspect of daily life.

In severe cases, unhealthy coping mechanisms such as drug or alcohol abuse can arise.

You may think there’s no place for an employer in the realm of an employee’s personal financial matters, but consider this: Workers who are stressing over personal finances on company time cost you in the long run.

Studies have shown that financially stressed-out workers spend a significant amount of time during work hours dealing with personal financial matters.

From lost productivity to decreased job performance and increased health-care costs due to stress-related medical conditions, the results of their money woes can quickly become your business’s business.

So what can you do about it?

For one thing, you can offer valuable resources to help them help themselves. Initiating programs that will help your employees learn to manage their finances effectively is a wise business decision.

Once they feel more in control of their day-to-day money problems, you’ll likely see an improvement in their performance and attitude at the office.

Keep in mind: