Understand the correlation between health and financial stress!

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Understand the correlation between health and financial stress!

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Financial stress is the accumulation of debt that harms the employee in the performance of their activities. Added to the problems arising from this, there is a strong correlation between health and financial stress, which directly impacts the company as well — exposing the need to diagnose the problem.

Perhaps, your employees are perfectly aware of the impact of debt on their personal lives. It turns out that, currently, much has been said about the correlation between health and financial stress. And, believe me, this is very little discussed in the UK residents market.

Don't be fooled into considering that the company you work for also have to lose as each employee's debts accumulate.

In heavy countenances, individuals also carry accumulated stress, difficulty concentrating and decreased performance.

Therefore, in this post we will discuss, precisely, the correlation between health and financial stress, exposing how this harmful situation falls like a bomb on everyone – the company, included. Check out!

The cause and consequences of financial stress

In the world ranking of stress, the UK leads. For this reason, many may already have the effects and consequences of this disorder accumulated on our body and in the psychological.

The motivating agents of this problem, in fact, are quite diversified. Below are the main examples:

  • financial debts;
  • anxiety;
  • search for success (personal and/or professional) and challenges and obstacles along the way;
  • fear of losing your job;
  • aging without quality of life, reflected in various health problems;
  • fear of falling back on one's social position;
  • external conflicts — such as the country's political and economic scenario.

It turns out that, here, the correlation between health and financial stress it extends to all of the aforementioned reasons that lead to stress.

In addition to the daily pressure for results, in the corporate day-to-day life, a good part of the UK residents people have in common finance as the great catalyst for stress.

And what would that be? Disturbances stimulated by the accumulation of debt, financial stagnation and other factors that lead to lack of necessary income to purchase something or even increase the budget.

As a result of this, many professionals are unable to “break apart” this cumulative problem with what is expected of them in the corporate routine.

That's where the big correlation between health and financial stress, as we will see below.

The correlation between health and financial stress

Stress, by itself, already carries in its essence a series of cphysical and psychological conflicts in people. Below are some of the main ones!

Depression

The lack of motivation, which at first seems related to dissatisfaction with the professional perspective in the company, is due to financial stress.

When the company and the indebted professional neglect or mask this diagnosis, both are harmed by this decision.

the individual, because it doesn't work on the causes that motivate the problem. The company, in turn, because loses the good performance (as well as the well-being and quality of life indices) of a great internal talent.

Conflicts with coworkers

continuous irritability it tends to culminate in emotional decisions made in the heat of the moment. And sometimes they cause friction with teammates.

And all because of the accumulated financial stress, which prevents people from working harmoniously, and which causes this constant feeling of irritation and annoyance.

difficulty concentrating

THE correlation between health and financial stress it also comes with the difficulty in dealing with one's routine — whether with private or professional issues.

Without the necessary focus for everyday life, the collaborator becomes dispersed, little attentive and engaged, not to mention the chronic lack of motivation resulting from the lack of attention to their responsibilities.

absenteeism and presenteeism

The first term is associated with absence from the workday. Whether it is justified or not.

Presenteeism, on the other hand, is associated with the employee's physical presence, but his “mental absence”. What can be seen as an evolution to the problem of lack of concentration.

At this stage, however, the professional no longer performs his activities, is little connected to the company's objectives and goals and does not engage in anything with colleagues and/or managers.

See how much this negatively impacts the company as a direct consequence of this correlation between health and financial stress.

Therefore, major brands around the world have already taken it upon themselves to resolve this aspect inherent to the living conditions of a large part of their workforce.

After all, it is up to HR and managers to pay attention to the well-being and the quality of life of employees, why not also solve the problems resulting from this correlation between health and financial stress?

The company as a solution to the correlation between health and financial stress

As highlighted above, many health problems can arise with stress buildup. And, for the company, it is useless to indiscriminately dismiss all employees with low performance overnight.

That's because high turnover generates miscellaneous costs — and direct and indirect — to the organization. When working on the problem in partnership with employees, in turn, the gains are multiple. Between them:

What are companies doing to avoid this problem

In this context, it is worth mentioning the financial well-being programs, which are one-off measures planned to guide, raise awareness and relieve employees with financial stress.

There are even many measures in this regard that can be adapted to each situation.

For example: companies that start offering help in the purchase of medications or medical treatments for chronic diseases — one of the main causes of indebtedness as well.

Other organizations, in turn, created the on-demand payment model, which is the flexibility for employees to withdraw their wages already worked and, thus, it prevents him from remaining hostage to the high interest rates practiced by financial institutions in the face of an immediate need for income.

In the short term, some companies are investing in:

It's worth it, first, understand what the company's difficulty is and what reasons have harmed employees, identifying the correlation between health and financial stress.

Based on the results, your HR is able to plan more measures efficient and needs-focused of the organization.

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Conclusion

HR Consultant UK can help if you have any questions about Understand the correlation between health and financial stress!
. Our HR consultant in London can assist you if you live in London. Suppose you live further afield thats not an issue! Visit our HR Consultants Near Me page to find the best consultancy nearest to you.
See you next time!

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