MANAGING FINANCIAL WORRY IN THE WORKPLACE
Personal finance issues affect all types of employees yet it’s a subject that’s often ignored in the workplace. However when this type of issue gets out of hand it can have serious repercussions for employee performance and productivity, not to mention attendance and engagement.
In a recent article on HRZone.co.uk, Eugene Farrell, Immediate Past Chair of the UK EAPA looks at the benefits of work based counselling for financial problems and discusses how employers can make sure this personal and sensitive issue is managed and communicated in the most diplomatic way for all those concerned.
According to Eugene Farrell, “EAPs are uniquely set up to help people with the emotional – as well as the practical – aspects of financial stress through, for example, money advice, benefits entitlement, debt counselling and budget planning tools. Around 1 in 20 cases seen by EAPs seek debt support and advice, although this number is likely to be much higher considering the coexistence of debt related problems behind other issues such as relationships, property division and child support.”
Go to www.hrzone.co.uk to read the full article.