Relationship between Financial Stress and Workplace Absenteeism of Credit Counseling Clients
Thoughts
Connects with: @aldana1998 @joo1998 @peirce1996
Annotations
kim2006 - p. 460
Financial strain occurs when one is unable to meet his/her financial responsibilities (Tacheuchi, Williams, & Adair, 1991).
kim2006 - p. 460
Financial strain results in part from an evaluation of one’s current financial status, including perceived financial adequacy, preponderance of financial concerns and worries, adjustments made to changes in one’s financial situation, and one’s projected financial situation (Voydanoff, 1990)
kim2006 - p. 461
A number of studies have linked financial stress to absenteeism (Hendrix et al., 1987; Jacobson et al., 1996; Kim & Garman, 2003).
kim2006 - p. 462
Financial stress has been used as stress in the model (Kim & Garman, 2003) and was measured with three items: perceived financial stress, satisfaction with current finances, and retirement income security (Fox & Chancey, 1998). Both satisfaction with family relations and work life were included as stress responses. Financial strain often affects marital quality (Conger, Rueter, & Elder, 1999) or family satisfaction and cohesion (Voydanoff, 1990). Also, interaction with family could mitigate financial strain on psychological distress (Ferraro & Su, 1999)
kim2006 - p. 462
Absenteeism has been categorized as an organizational consequence (Hendrix et al., 1987; Ivancevich et al., 1982; Kim & Garman, 2003). It is influenced by determinants, stress, and stress responses
kim2006 - p. 463
The study used the databases available from a large non-profit credit counseling organization that operates telephone counseling nationwide. The population for this study was a group of consumers who telephoned the credit counseling organization seeking assistance with managing their debts.
kim2006 - p. 463
Financial stress included three questions: perceived financial stress, satisfaction with current finances, and retirement income security. Financial stress was used in Bagwell’s (2001) study. It was measured with the question, ‘‘What do you feel is the level of your financial stress today’’ with five options: overwhelming (5), severe (4), moderate (3), low (2), and none (1). This question was used as a subjective self-report of one’s personal perceived financial well-being (Joo, 1998; Porter & Garman, 1993). Retirement income security was measured with the question, ‘‘How secure do you feel about your personal finances for retirement?’’
kim2006 - p. 464
Absenteeism was measured by four indicators: frequency of absences (excluding holidays and vacations), days totally unable to carry out normal activities, days cut down on normal activities, and work time used for personal finances. Frequency of absences was measured by the self-report of absences (Price & Mueller, 1986). Responses were recoded to none (0), 1–2 days (1), 3–4 days (2), 5–6 days (3), 78 days (4), 9–10 days (5), and 11 and more days (6).
kim2006 - p. 464
Work time used for personal finances included nine items to assess how much time was used at work handling personal financial matters. Respondents were asked to indicate the number of hours they spent in the previous month dealing with personal financial activities unrelated to their jobs while at work.