Financial presenteeism: What is it? What are the costs for companies? How can it be combated?

Presenteeism in companies can take many forms and be motivated by various factors. Here, we are interested in understanding financial presenteeism and its influence on companies, how it can be identified and combated.

This leads to the question: what effects does this phenomenon have on businesses?

E isto leva a uma questão: quais os efeitos que este fenómeno tem para as empresas?

In general terms, we can talk about a loss of individual productivity of one third or more and the risk of accidents at work for the worker, the organisation and other employees.

And in terms of costs?

According to existing studies, workers spend an average of 1.20 hours/day on personal activities and an average of 4.9 hours in a normal working week.

How can companies reduce these costs while supporting employees who have financial problems and suffer from debt?

Conducting an assessment to identify which employees are experiencing financial stress, which are in debt, and which are financially healthy.

The diagnosis should be made directly by the company by analysing information on wage garnishments, if any, and indirectly by surveying all employees through an anonymous online questionnaire.

This will make it possible to identify, in addition to existing debt, the percentage of employees who are experiencing financial stress, i.e. who, although not yet in debt, are nevertheless finding it difficult to meet their responsibilities.

In addition to this information, it will also be possible to find out the percentage of financially healthy employees, i.e. those who have a financial balance between what they earn and what they pay.

After this analysis and in light of the results, the company has two options: hire specialised services to cure or remedy the situation, known as financial consulting, or invest in prevention by providing its employees with workshops, group or individual awareness sessions, and training in Financial Education.

It is a social responsibility of companies to invest in prevention!