Many bosses like to think that their workers are always focused and on task. However, it’s unreasonable to assume that employees are productive and efficient at every moment during the working day. They’re not machines, but people, and people have swirling complexities in their life at any given time.
Personal money problems are one such issue that, if left undetected by employers and HR departments, can have big effects on a business’s overall results. But how is this possible, and how can those in charge know what to look for in their staff?
Consequently, here’s how personal money matters affect employees at work!
Happiness
Many workplaces require a certain professional attitude to be brought into work by each worker. It’s understandable, as behaviour is incredibly important when it comes to representing a company and maintaining productive standards in the workplace. That said, even the employees with the best poker faces will, occasionally, find their professional demeanour wavering when they’re struggling in their personal lives.
When appropriate, employers should let the corporate masks slip in order to get to the root of what’s bothering the employee. If it’s personal money problems, workers could be suffering from severe depression. For the ethical bosses out there, employee wellbeing should always transcend hollow corporate goals, so it’s important to ensure those struggling financially don’t feel isolated or forgotten about at work. Meetings and frank discussions can be held.
Of course, there’s also the consideration that if workers aren’t happy for financial reasons, they could well leave the company that perhaps isn’t helping them earn a living. Therefore, the employer can introduce robust schemes like employee benefits to boost morale. After all, this could also keep staff turnover rates low, and not waste funds by constantly finding new talent to replace the old.
Productivity
If the employee with the financial problems hasn’t quite left the company yet, then the next worst thing is stalled productivity. Some problems are too big and overwhelming to set aside in the mind, and financial concerns fit that category. Instead of thinking about their job and performance, worried workers will instead be thinking; how do I get out of debt? Will I lose my house? What about my partner and kids?
While it’s understandable for someone to have these kinds of thoughts under financial pressure these trains of thought are highly unproductive. Most notably, they don’t drum up any workable solutions to get out of their situation; it’s just an endless, self-sustaining circle of fear. Simply put, this won’t do any business any favours, and if it’s left unchecked the company can really start to suffer on a performance level too.
Considerations of productivity need to be paid to the HR departments also; by ensuring they’re staying updated on employee wellbeing and offering support. By focusing on the things that truly matter first, only then can a company start getting back on track with their more business orientated goals.