The effects of financial stress on employee performance, case study of Barcc
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Date
2016-08
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KNUST
Abstract
ABSTRACT
Any situation where demands on a person exceed that person‟s resources or ability to
cope, such demands can be referred to as stress. Stress can be triggered by our day to
day activities such as a difficult boss, separations or divorce, financial incapability
and sometimes when we come across something unexpected that has adverse effect
on our goals or objectives. Stress has various forms and each form affects people
differently. One aspect of stress that employees go through which has not received
much attention in this country is financial stress. Several studies have been carried
out on financial stress but none conducted in the case study organization of this
research. Therefore, the main objective of the study was to determine the effects of
financial stress on employee performance at the Brong Ahafo Regional Coordinating
Council. The target population for this research was all employees of the BARCC
with a sample of 181 employees. Proportional sampling method was used to obtain
the sample from the sampling frame. The researcher employed a descriptive study
and used both quantitative and qualitative data analysis in assessing the effect of
financial stress on employee performance in the BARCC. Respondents shared that
when they have financial problems they think a lot about it and sometimes engage in
long conversations with co-workers about their financial situation. They lose
concentration at work, take long breaks and sometimes stay away from work in order
to solve their financial situations which adversely affect performance at work. The
study recommended work place financial education for staff in order to reduce the
financial stress level and also the organization could out-source services of non critical staff when the need be in other to avoid paying staff for no work done. This
would help ease the organization of its huge financial burden so that it could
consider an upward adjustment of its salary structure.
Description
A thesis submitted to the Department of Human Resource & Organizational Development, Kwame Nkrumah University of Science & Technology, in partial fulfillment of the requirements for the degree of Master of Business Administration (HRM Option) School of Business