Financial Stress, Goodbye Post Xmas Blues
December 18th, 2013 by admin
How to ensure a happy workplace, pre and post festive season…
Spirits are high in the lead up to Christmas. There’s parties to attend, more food than usual and beer on tap.
It’s also common knowledge over the Christmas period that household financial pressures rise, once gifts have been exchanged and the string of parties are over, reality sets in.
We’d all like to ignore this fact but it can’t be ignored, financial stress can seep through your personal, family and work life and the sooner you take control of it, the less impact it has. The good news is it is a no brainer for a business to want to improve the productivity of their people often by working on the stressors that rob the business of their employees’ focus. In the new year, we’re making a sure bet the biggest stressor will be financial pressure … how am I going to pay off that credit card?
So what can you as an employer do about it?
Surveys asking people to identify the biggest causes of stress in their lives typically produce lists like this one:
- money (bills, debt, mortgage, bankruptcy, retirement income)
- work (employment security, job demands, demanding career ambitions)
- family (marriage, divorce, arguments, kids, caring for aged parents)
- personal life (control over events, time management, personal time and space)
- health (weight control, fitness, bad habits, sickness, medical costs)
- relationships (friendships, dating, marriage, break-ups, loneliness, emotional and time demands)
- death of a loved one (death of a spouse, child or parent is often extremely devastating, and can be especially stressful for a considerable time).
A decade old national survey revealed that 3 out of 4 Americans faced at least one significant financial problem recently, such as being unable to save for future needs, delaying medical care, or having problems with a collection agency (Chandler & Morin, 1996). This is a global issue that is equally relevant across Australia. Household spending, credit use, and stress have changed enormously in recent decades. Anecdotal evidence and media reports today suggest that a much higher proportion of people are experiencing stress about financial matters.
The Chartered Institute of Personnel and Development Benefex Reward Management Survey in 2012 found financially stressed employees spend 20 hours a month of work time trying to solve their financial problems.
So how can you as an employer help employees who may be getting back from the Christmas break with debts to repay and increased financial stress?
Future Map is offering 30% off all 90 minute Financial Wellbeing Lunch N Learn sessions in your workplace booked between January – March 2014. Join us to improve the financial health in your workplace by providing individuals with tools, knowledge and resources to remain in financial control.
The new year is also a great time to help employees set fresh new goals, for themselves personally and at work.
Contact Zoe Lamont on 0419 622 968 or email firstname.lastname@example.org to book your employee life planning and financial wellbeing session today. More information about the Future Map workplace programs can be found on www.futuremap.com.au.