A recently released survey sheds light on a corporate vulnerability that most managers overlook: their employees’ financial health. ComPysch, a Chicago-based employee assistance firm, surveyed employees from 1,000 businesses and found that fewer than half consider themselves to be more financially secure than they were one year ago. Almost 30% said that they are “one major setback away from financial disaster.”
ComPysch’s chief executive, Richard Chaifetz, says that personal financial woes can seriously affect employees’ productivity, and should be addressed at work with an employer-provided personal financial consultant. Is that extending the scope of managers’ responsibilities too far?