Based on my understanding, even though providing financial education programs in company is not mandatory by law, the company still have an high degree of obligation to alleviate employees’ stress. The company is mainly running by human beings who can be positively or negatively affected by stress. By protecting health work of the business, the company is better of taking care of employee’s stress, which may be affected both emotional and physical.
The financial issues of loan of debt will directly affect employees’ reedit in the long-term in the bank, so its easy to understanding how nervous they are when the financial issues are coming up. They can be having too many personal things to do instead of completing a job in the work period, lack the ability needed to complete their jobs of decreasing performance, or even can cause biochemical changes in the body. Moreover, persons interpretation of financial issue streamers is different form another’s, so the outcome can’t be accurately predicted.
By facing the negative outcomes from financial stress, I believe setting up a financial education programs in the many will provide an wide range of helping tools in handling financial issues and employees’ stress; therefore, loss of company can be reduced and even having some extra returns. 2. In my opinion, employees are stressing over their finances and employers are feeling the pain in lost productivity, which show as the high degree of negative influence of behavioral outcomes Of absenteeism, turnover, and performance and cognitive outcomes of poor decision making, lack of concentration, and frustration.
In real life, after supreme crisis in 2008, more and more employees preferred to spent time at ark dealing with their personal finances, either spending hours considering saving money in tax rate and supermarket coupon or worrying money matters. Observing in behavioral outcomes, absenteeism would be discovered and often happened when employees had to handle their personal financial issue outside the company in the work-time.
Since time of working is shifting to handle personal issues, employees’ productivity of turnover and job performance will decrease as well in project completing and daily work quality. On the other hand of cognitive outcomes, since the uncial issues of loans and debt are directly related to employees’ credit with long-term affect in the bank, it is easy to understand that employees are nervous of settling them. However, after a long-while of considering personal issue, employees will simply lack of concentration in job side and decrease ability of decision making.
Most job projects need comprehensive and professional consideration instead of making mistake and loss. Moreover, an negative endless loop will happen: the financial issue reduce their work productivity, and low productivity may affect low income and even lay-off; it ill hardly hurt financial issue backward. The potential stress of frustration will emerge. Therefore, stressing of employees’ financial issues have high degree of negative influence of work outcomes. 3. Tryingly approve of McLeod Health and There-O-Disc offer these financial programs even the program still cost organization money and resources. Essay to imagine, implementing a financial education can increase employee productivity, reduce life and health care cost, increase loyalty toward the company, and encourage employees to take advantage in tax and insurance. McLeod and There-O-Disc believed in those benefits, and they would love to have an opportunity to reduce cost instead of leaving the problems.
Moreover, the education program is a long-term benefit and that it is not only helping employees to handle their existing financial issue but also advantage in life experience to reduce future financial risk. As Melded Health mentioned: “its data showed a significant decrease in turnover, lost work time, and absenteeism of employees enrolled in the class while their job performance increased for a total return of $569,133. ” The return of the financial program s saving real money and increasing employees’ productivity in Melded.
At There-O-Disc, its program directly create a saving fund of $1 ,OHO each and pay off a portion of employees’ debt. There-O-Disc handled employees’ existing problem which the cost would be return by employees’ loyalty and productivity, since they would have more time to concentration at work instead of personal financial issues. In conclusion, even though the program still cost organization money and resources, the education program will help employees manage stress which will return in high productivity, high loyalty, and high performance to the company.