Personal finance worries 'affect employee productivity'
07-05-2009
An employee's performance at work is often a reflection of their personal financial status, it has been claimed.
According to the Institute for Employment Studies, a person's confidence and sense of security can be undermined if they are worrying about money problems, whether it be their mortgage rate, existing debt or their partner's income.
The organisation stresses that to workplace productivity, it is a good idea for firms to offer financial advice to help staff assess their circumstances, which is different to offering financial assistance.
A spokesperson for the Institute of Employment Studies said that "if you look after and care for your employees they will feel more attached to you and performance will go forward".
Previously, a Work Foundation survey has revealed that 40 per cent of employees believe they have more skills than their job requires of them.
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