Financial Stress and Job Performance of Employees of a Government Agency in Negros Occidental

Abstract

Financial stress is a condition that is becoming more predominant in society nowadays, especially among employees. There are more financial challenges among employees today, and these challenges are being reflected in the workplace's daily operations. Employees tend to bring financial problems into the workplace that affects their performance. The impact of financial stress has not been given considerable attention by human resource professionals in the government agencies in the Philippines. Thus, the paper determines the level of financial stress and job performance of employees of a Government Agency in Negros Occidental when grouped according to age, sex, family status, position level, estimated loan obligation, and district office. Also, it determines the relationship between financial stress and job performance.

Financial Behavior and Financial Satisfaction of Non-Teaching Personnel in a City Schools Division in Negros Occidental

“…The group claimed that the lowest salary under SSL5 is P12,517 per month, significantly lower than the P42,000 per month projected to be necessary for an average Filipino household by former NEDA Secretary Ernesto Pernia. But Gualdrapa and Palic [11] also emphasized that poor lifestyle choices and a lack of knowledge about financial management and budgeting are causing more debt problems for government employees in the Philippines.…”

Financial Literacy and Financial Well-Being of Public Health Nurses in a First Class Province in the Philippines

“…Managing personal finances, such as spending, borrowing, and increasing financial knowledge, is essential to improve financial well-being (Financial Consumer Agency of Canada [FCAC], 2021; Sehrawat et al, 2021). On the other hand, financially stressed employees have the likelihood of high employee turnover, increased burnout, depression, and decreased work productivity (Gualdrapa & Palic, 2020;Ford et al, 2020). Financial literacy influences financial well-being, so improving financial literacy skills and knowledge can lead to positive financial well-being (Lee et al, 2020;Rahman et al, 2021;Tahir & Richards, 2021;Prakash et al, 2022).…”

“…The Philippine Statistics Authority 2018 Occupational Wage Survey revealed that private nurses' monthly earning is fourteen thousand, four hundred and ninety-two pesos (14, 492.00) pesos, and this suggests that Filipino nurses are living just above the poverty threshold (Baclig, 2021). Despite the efforts of Bangko Sentral ng Pilipinas, strengthening the financial literacy of Filipinos for better money management, poor financial planning, such as a lack of financial discipline to manage income and expenses, leads to unhealthy financial conditions, financial stress, and poor work performance in government workers like nurses (Parcia & Estimo, 2017;Gualdrapa & Palic, 2020;Bangko Sentral ng Pilipinas, 2020;Villagonzalo & Mibato, 2020). The small pay, financial stress, avoidance of investment schemes, and ultimately, the need to achieve financial well-being for unsung heroes-Filipino nurses propel the researcher to undertake the study.…”

“…Attaining employees' positive financial health or wellness needs an in-depth understanding of the role of financial literacy, financial stress, financial attitude, or behavior (Parcia & Estimo, 2017). Government employees, such as nurses on the front line against the COVID-19 pandemic, must deal with financial stress and physical well-being (Gualdrapa & Palic, 2020). Thus, it is imperative for employees, including nurses, to have a good state of financial wellness and financial management in a global health threat by focusing on improving financial knowledge that ultimately will aid in developing the right behavior or attitude in addressing financial stress as well as proper financial management to include debt or borrowing practices (Parcia & Estimo, 2017;Gualdrapa & Palic, 2020;Villagonzalo & Mibato, 2020).…”