How Personal Finance Affects Work Performance - Slimmer Payments

How Personal Finance Affects Work Performance

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Did you know that people who have their personal finance situations in order make better employees?  

Money is one of the top stressors for adults. Most marriages that end in divorce even name it as a contributing factor!

Since money can cause so much stress, it makes sense that it could be distracting to performance.

In fact, the results of a new national survey indicate that people perform better at work when their finances are in order.

Workforce research has shown repeatedly, that financially stressed employees are less productive than their non-stressed colleagues.

Additionally, new evidence to support this concept emerged recently, in the results from the latest annual employee financial wellness survey, by the National Financial Educators Council (NFEC).

The survey provided data to help quantify the connection between a person’s personal finance situations and employment. Results showed just how big an impact personal finances have on performance.

The study also looked into how well financial wellness programs address these issues and help workers stay afloat. Americans gave their opinions on what government and employers could do to help.

Of over 2,000 respondents, 53.5% said they would be more productive at work if their finances were in better shape. 

Furthermore, 44.9% would have a more favorable opinion of their employers if they offered financial wellness programming. Almost one in three (31.4%), said they would attend a financial education program if their employer offered one.  

“These results echo what we hear from employees across the country,” says Vince Shorb, CEO of the NFEC. “Employees are concerned about their finances and appreciate employers that provide access to high-quality financial wellness programming.”

Do you think that people who manage their finances well, make for better employees? Have you seen anything like this in your hiring practices? Please reply using the comments below. 

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