The Business Case for Financial Education - Personal Financial Wellness and Employee Productivity Testing a Conceptual Model of Financial Well-Being Employee Personal Financial Wellness and Job Productivity The Negative Impact of Employee Poor Personal Financial Behaviors on Employers Personal Financial Wellness May be the Missing Factor in Understanding and Reducing Worker Absenteeism The Employer's Cost for the Personal Financial Management Difficulties of Workers: Evidence from the U.S. Navy Personal Financial Education for Employees: Evidence on the Bottom-line Benefits

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InCharge Education Foundation : Research : Reports & Publications : Value of Improved Personal Financial Well-Being to Employers : Personal Financial Wellness...

Personal Financial Wellness May be the Missing Factor in Understanding and Reducing Worker Absenteeism

By So-hyun Joo & E. Thomas Garman

The determinants of absenteeism and efficient methods of reducing absenteeism are some of the greatest concerns of employers. This paper examines the relationship between personal financial wellness and absenteeism from the sample of 278 white-collar clerical workers in a mid-eastern state.

Financial stressors and personal financial wellness are some of the important factors that explain variance in absenteeism. Based on the relationship, the potential effects of financial education on reducing absenteeism are discussed.

Extrapolating the findings to clerical workers throughout the United States show a potential annual net savings from reduced absenteeism through financial behavioral changes by effective workplace financial education of $440 million.

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