Financial stress is a key detractor from employee wellness and research suggests it’s an impairment to cognitive functioning, which can lead to a reduction in productivity.
This is according to an inaugural study, “The Floatpays State of Employee Wellbeing Barometer 2022”, which drew on both qualitative and quantitative methodology. It surveyed South African workers who represent a broad demographic in terms of age, gender, ethnicity, province and monthly household income. The study positions employee wellbeing programmes as a catalyst for change in the country’s labour productivity trajectory.
“When we get to the crux of what constitutes employee wellbeing, two key factors come to the fore: the condition of the working environment and the level of financial stress amongst employees.” Ward emphasises the need for employers to acknowledge the linear correlation between financial stress, employee wellness, productivity levels and, ultimately, profitability.
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