Businesses count on their employees to effectively and productively service their clientele on a daily basis, regardless of industry, title, or position. However, when an employee is overwhelmed with personal financial matters, their work performance may suffer, adversely affecting your company’s ability to retain its clientele.
While there may be other factors that contributed to the loss of a client, an employee’s distraction over personal financial matters and resulting decline in work performance may have significantly contributed to the situation. According to a study, employees spend at least 3 hours per week, on average, dealing with their finances at work. It could be as simple as making sure a bill is paid on time or something more significant and time-consuming that impacts their work day. The bottom line is that their financial stress can have major, unplanned consequences on your business.