Back in August I was contacted by a senior HR manager at Best Buy corporate headquarters with a very specific request. He was planning a weeklong focus on the topic of financial well-being and wanted me to kick-off this first-ever event.
In one of our early conversations, he talked about the link between the stresses some folks have about money at home (be it with a spouse or children) and how that may carry into the workplace.
He is right to be concerned. More and more research is emerging that suggests that productivity takes a real hit when people are stressed about money issues. And one thing we know about this current recession, stress about money is near, or at, the top of the list.
In fact, a recent survey by the American Psychological Association found that nearly 80% of Americans list money as the #1 source of stress in their lives.
According to Gallup, only 6% of employees strongly agree that their organization does things to help them manage their finances more effectively. Employers have a unique opportunity to educate and encourage their employees on the road to financial well-being – which is exactly what Best Buy is doing.
The goal of Best Buy’s weeklong focus on financial well-being is to provide new insight and tools to help them be more proactive in dealing with a variety of money topics and issues – especially at home.
To that end, I will be using excerpts from my new book & DVD, Money Sanity Solutions: Linking Money and Meaning, to help make the case that talking about money can be both fun and productive. I am hopeful that other companies and organizations will also see the cause and effect relationship of this issue and in turn offer similar workshops on financial well-being.