Evaluation Tool

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Company Name:
Number of employees:
Average salary:
O.K, let's see what your current employee financial distress status is ...
Days available: Unscheduled absenteeism costs $3,600 per year for each hourly worker. Seventy percent of all job absenteeism is tied to stress-related illnesses, of which one of the leading causes is financial distress.
R per year
Engagement: On average, a financially-stressed employee will spend 20 hours per month dealing with financial issues at work. The estimated cost of this lost productivity is $7,000 per year for each stressed employee.
R per year
Fatigue: Fatigue-related productivity losses are estimated to cost $2,000 per employee each year. "Present-eeism", where a worker is physically present but mentally absent due to distractions about financial concerns or loss of sleep from worrying, steals away six hours of productivity per month per employee.
R per year
Alertness: About 70% of workplace accidents are stress-related due to the distractions of that stress. As a result, companies with 1 000 employees see about 23 stress-related accidents per year, costing about $29,000 each.
R per year
Commitment: Financially stressed workers are less satisfied with their jobs and their pay, and are more likely to go looking for greener pastures elsewhere. Average turnover is about 15%, but 40% of that workplace turnover is due to stress, and the cost of replacing those hourly employees is at least $3,500 each.
R per year
Ethics: Financially stressed workers are more tempted to steal from their employer, and 4.2% of employees have been caught doing just that. The average dollar loss per employee theft case is $1 762 not including the extra costs for security, HR, legal expenses, and employee replacement.
R per year
Total Loss
RMillion per year
Please note:
The American research is based on an employee earning about $5 000 per month. In the calculations above, this is scaled to the South African context based on the average salary input.
*Source research:
  1. Garman, E.T., Junk, V.W., Kim, J., O’Neill, B.J., Prochaska-Cue, K., Prawitz, A.D., Lawrence, F.C., Yao, R., Weagley, R.O., Weisman, R.L., Carnathan, G., Schaus, S., Hutcheson, M.D., McKinley, D.H., Brook, M.J. (2005, March 22). Financial Stress Among American Workers, Final report: 30 million workers in America-One in four-Are seriously financially distressed and dissatisfied causing negative impacts on individuals, families and employers. Independent report from the authors that is available at www.pfeef.org.
  2. Absenteeism: The Bottom-Line Killer, © 2005 Circadian Information Limited Partnership, an Affiliate of Circadian Technologies, Inc.
  3. Adams, G.T. (1987). Preventive law trends and compensation payments for stress-disabled workers
  4. R.L. Weiseman, Personal Financial Stress, Depression, and Workplace Performance
  5. Estimate of time at work spent on personal financial problems by a financially distressed employee, Dr. Thomas Garman, Personal Finance Employee Education FoundationTM, www.pfeef.org
  6. The Cost of Poor Sleep: Workplace Productivity Loss and Associated Costs, 2010, The American College of Occupational and Environmental Medicine, Rosekind, Mark R. PhD; Gregory, Kevin B. BS; Mallis, Melissa M. PhD; Brandt, Summer L. MA; Seal, Brian PhD; Lerner, Debra PhD
  7. The Herman Trend Alert, May 2003, The Herman Group
  8. http://www.bls.gov/news.release/osh.nr0.htm
  9. http://www.stress.org/job.htm
  10. http://www.compensationforce.com/2012/09/2012-turnover-rates-by-industry.html
  11. http://compliance.safetysmart.com/wp-content/uploads/2011/11/Tool-11.pdf
  12. http://www.webpronews.com/employee-retention-what-employee-turnover-really-costs-your-company-2006-07
  13. http://www.resicomm.com/surveillance/sdata.htm
  14. University of Florida 2005 National Retail Security Survey
  15. Garman, E. T. (1998). The business case for financial education – Personal financial wellness and employee productivity. In E.T. Garman, S. Joo, I. E. Leech, & D. C. Bagwell (Eds.), Personal Finances and Worker Productivity, Proceedings of the Personal Finance Employee Education Best Practices and Collaboration.