and Workplace Psychology
Understanding the Intersection of Money
Money links to emotions, upbringing, norms, and essentials. Job satisfaction and wages affect productivity and financial stress. Consultants benefit businesses.
How The Brain Works
Limited financial education leaves employees relying on personal experiences rather than knowledge, posing potential disasters. Employers must grasp psychology's role.
Effect Of Upbringing
Childhood exposure to irresponsible spending normalizes it, causing financial struggles and potential misuse of resources in adulthood.
Effect Of Previous Experience
Financially struggling employee seeks help but is rejected by an advisor. Ashamed, they avoid seeking assistance, perpetuating their financial troubles.
Effect Of The Economic Cycle
Millennials saw their parents and themselves affected by job losses, asset declines, bankruptcy, and foreclosure in 2008-2009 and during Covid.
Bankruptcy & Resignation
Financial stress drives record bankruptcies & resignations, impacting companies' bottom line, PwC survey reveals employees seeking firms prioritizing economic well-being.
Maslow’s Hierarchy Of Needs
Maslow's Hierarchy of Needs emphasizes basic necessities and financial security as essential for personal well-being and self-actualization.
How This Affects Corporations
Employees' personal lives significantly impact corporations, emotional and financial baggage affects the workplace, affecting business outcomes.
How Can Corporations Better Support
Corporations can support employees by offering financial counseling, utilizing technology for courses, and hiring speakers to improve financial wellness.
Corporations must prioritize holistic well-being of employees. Financial wellness is crucial for talent retention. Work benefit and consultants can help.
to Discover a Wealth of Financial Content