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The Negative Impact of Employee Poor Personal Financial Behaviors on Employers Author: E. Thomas Garman, Irene E. Leech and John E. Grable This article demonstrates that there are substantial costs to employers caused by the stresses associated with poor personal financial behaviors of employees. Approximately 15% of workers in the United States are currently experiencing stress from poor financial behaviors to the extent that it negatively impacts their productivity. The proportion of workers experiencing financial problems that negatively impact productivity for a single employer could range as high as 40 to 50% depending upon certain factors. The costs of reduced employee productivity because of poor personal financial behaviors are substantial. The full extent of the costs to employers is unknown. Key Words: absenteeism, employee assistance program, employee productivity, personal financial behavior, stress, substance abuse

inancial Stress and Absenteeism: An Empirically Derived Model Author: Jinhee Kim and E. Thomas Garman This paper examines the relationship between financial stress and absenteeism. A conceptual model was derived from a Health Promotion Model and empirically tested to investigate relationships among determinants (individual characteristics), stress (financial stress), physical and psychological responses (organizational commitment and health), and absenteeism. Using data from white-collar workers at an insurance company in three midwestern states, this research determined that financial stress was negatively related to organizational commitment and was positively associated with absenteeism. Employers might consider offering workplace financial education programs to reduce absenteeism. Key words: financial stress, absenteeism, Work

"'Work at Any Price' Not Working 09/11/2009 Work does not provide a guaranteed route out of poverty, according to research published this week by the Joseph Rowntree Foundation. A study of the experiences and perceptions of work among residents living in six deprived areas in the UK highlights the fact that many are trapped in a cycle of 'poor work/no work' that fails to lift them out of poverty. A team from Sheffield Hallam University found that poverty-level pay can force those in employment to work excessive hours, harming the quality of their family life. For those out of work, this can act as a disincentive to leave benefits, it says. Many of those interviewed saw the value in working, in terms of increased self-esteem and reducing isolation, but gained little financially. Other issues that the research highlights include the tensions between work and parenting, with many low paid workers unable to pay for childcare and their jobs lacking the flexibility to fulfill parenting responsibilities. The research is part of a wider three year study called 'Living Through Change in Challenging Neighbourhoods'. The wider project examines the extent to which the place where you live makes a difference to your experience of poverty, and is following the lives of 180 people over three years from 2008 to 2010."

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