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News: Families, economic crisis and stress There is no question that the recent economic crisis has wreaked havoc on companies and on families everywhere. Read more |
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In the workplace, large numbers of people are feeling more stress, more pressure from management and more concern about their job security, and are witnessing more incivility. |
November 2011
Dear
friends,
There is no doubt about it: The economic crisis is hitting hard everybody! Employees and their families are among the first stricken.
Companies suffer and inevitably employees feel the financial and psychological stress. Fears about the future and spending cuts predominate the personal and familial life.
The recession is changing the way employees think about their work and their commitment to it. It affects as well their feelings about their family.
The consequences of these changes are very important. It is necessary to take measures to manage the increasing job insecurity and and financial worries of the employees.
If these preoccupations and worries are left unanswered there is a real risk of adding more to the burden of the already suffering companies that employ them. This vicious circle is not helping anybody and it simply worsens the already difficult repercussions of the financial recession.
Employees who are unmotivated and disengaged affect negatively productivity and profitability. On the contrary motivated and engaged employees can make the difference and it is possible that they contribute to the reversal of the financial downturn.
Read more about the impact of the economic crisis on the families in the article Families, economic crisis and stress that you will find attached with our 106th Progressive Insurance Newsletter.
Managers should acknowledge the personal, social and familial impact of the economical crisis on their employees. It is necessary that they take measures to reduce these negative effects.
Companies should think and elaborate a specific plan for managing this very important aspect of employees' situation and feelings which have a direct impact on profitability. In cases where a company cannot elaborate alone a plan, the help of special advisors may be necessary.
Employees who feel that they work in a climate of trust and good communication with their management are more engaged and enthusiastic about their work and hey are willing to give more for the success of their company.
Takis A. Haggiandreou
Director
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The spending power and the quality of life of families are among the main casualties of the economic crisis. |
Our Quote:
"Men do less than they ought, unless they do all that they can."
Thomas Carlyle