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Stressed-out workers cost employers [euro]2.1bn.

Byline: GARRETH MacNAMEE

FINANCIALLY stressed-out employees are costing Irish workplaces [euro]2.1billion every year, a survey has revealed.

A report by personal finance website My Money found the recession has impacted on the performance of the workforce.

When employers were asked about financial stress and its effect on their employees, 78% of managers said it was having a direct impact on productivity.

The study also revealed 68% of workers have debt which threatens to overwhelm them - the report added this is costing employers [euro]850,000 every day.

The huge haemorrhaging of cash is caused by absenteeism and workers taking days off to deal with banking matters so they can de-stress.

Financial advisor and MyMoney.ie founder Liam Croke said: "The degree and scale of financial stress and its impact on employee productivity is widely underestimated."
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Publication:The Mirror (London, England)
Date:Sep 25, 2013
Words:137
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