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Financially stressed employees are less productive and more accident-prone. In fact, research shows they spend 20 hours/month of work time trying to solve their financial problems. 

Money Solutions can help your employees get smarter with money. We can make a significant contribution to the performance and morale of your organisation through our interactive education and advice services.

Australian workers are financially stressed

Interest rate rises and credit card debts are putting Australian workers and their families under increasing financial pressure:

  • Australians owe $41 billion on their credit cards
  • 750,000 families are experiencing mortgage stress
  • 300,000 are in danger of repossession
  • 1/3 of Australians are underfunded for retirement.

How employee stress affects your business

When employees suffer financially, so do their employers. Research shows employees with money problems have:

  • Reduced productivity
  • Lower morale
  • Higher absenteeism
  • Increased conflict
  • Decreased loyalty
  • More accidents.

How money education improves financial well-being

Other studies have shown that even the most basic education on money management can significantly enhance an employee’s financial well-being. Typical benefits include:

  • Improved financial knowledge
  • Greater confidence with investment decisions
  • Tighter control of spending
  • Reduced credit card debt
  • More planning for retirement
  • Increased savings.

How Money Solutions can help your employees

Since 1995, Money Solutions has been Australia’s leading personal money education provider. We can help your employees get smarter with money through:

  • Engaging online education material
  • Motivating face-to-face workshops
  • Affordable financial help over the phone from our Money Coaches
  • Experienced financial planning advice from our Financial Advisers.

How Money Solutions can help your business

By getting Money Solutions to help your employees with their finances, you can:

  • Increase productivity
  • Improve morale
  • Reduce absenteeism
  • Enhance loyalty
  • Improve staff retention
  • Reduce the administrative burden on your HR staff.

Give your employees the benefit of Money Solutions today

Financially secure employees are happier, healthier and more productive. Let your employees benefit from Money Solutions’ unique blend of advice and education – because when they flourish financially, so will your business.

To learn more, call us on 1800 046 144.

 

Sources:

Garman, E. T., Leech, I. E., & Grable, J. E. (1996). The negative impact of employee poor personal financial behaviours on employers. Financial Counseling and Planning, 7, 157-168.

Kim, J., & Garman, E. T. (2003). Financial stress and absenteeism: An empirically derived model. Financial Counseling and Planning, 14(1), 31-42.

Kim, J., Garman, E. T., & Sorhaindo, B. (2003) Relationships among credit counseling clients' financial well- being, financial behaviors, financial stressor events, and health. Financial Counseling and Planning, 14(2), 75-87.

Kim, J., Garman, E. T., & Sorhaindo, B. (2005). Study finds positive financial behaviors increased: Credit counseling, debt management effective. Journal of Family and Consumer Sciences, 97(2), 35-39.

Mortgage stress growing nationwide”, Liam Walsh, The Herald Sun, Sept 2007.