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Survey: Employees affected by financial stress


News » News-Archive » January 2012 » Survey: Employees affected by financial stress


A recent survey from the Society of Human Resource Management showed that many human resources professionals think their employees are affected by financial concerns. (Friday, January, 2012)

The survey found that more than half of HR professionals noted that their employees have been more likely to open retirement accounts to take savings now compared to previous years. In addition, 22 percent of these people said their employees have their work affected by their money problems. More than 60 percent noted that they have witnessed some impact, while 2 percent said that it doesn't affect their workers.

"The source of money woes is unsurprising but the toll it's taking on both workers and their employers, in addition to the persistence of the weak economy, are all troubling issues," said Dr. Mark Schmit, vice president of research at SHRM.

Close to half said their employees are more stressed out than usual, while close to one-quarter witnessed a decline in productivity, according to the report. Approximately the same amount noticed their employees were increasingly late to work or no-shows due to financial problems.

However, several reports have noted an increase in consumer confidence as of late, and this could be directly connected to the improvement in home sales in recent months.


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