Employees distracted by financial pressures cost companies in several ways, and the impact on business revenue is quite severe. Heightened levels of anxiety hurt morale and prevent workers from producing at maximum efficiency.
Medical expenses and time off for injuries or illnesses due to financial stress are another major drain on a business’ bottom line, as are the costs of the various programs that help employees address these issues.
Absenteeism due to financial problems is another costly issue. Approximately one out of five workers report that they have left the job early or missed work altogether to attend to personal financial problems. In a survey conducted by Glassdoor and Red Bull, nearly half (48 percent) of the respondents admitted to being overly fatigued, causing them to be distracted and make mistakes during working hours.
Many variables exist when it comes to determining which workers are stressed, especially since individuals handle stress differently. Here’s what to do.