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 : The Negative Impact of Empl...

The Negative Impact of Employee Poor Personal Financial Behaviors on Employers

By:
E. Thomas Garman, Virginia Tech
Irene E. Leech, Virginia Tech
John E. Grable, Virginia Tech

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.

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