But how can a scarcity mindset, particularly one based around money worries, hold employees back from giving their best performance in the workplace? Here are some of the ways in which this manifests itself in the work environment.
Absenteeism
An increasing amount of external research confirms a correlation between absenteeism and financial stress.
In a recent piece of research into how Wagestream’s members use flexible pay to support their budgeting and manage their finances, we discovered that 22.1% of people use it to cover the cost of their commutes.
This finding highlights a universal expense that is often overlooked. Internal policies and benefits are usually built to support colleagues in the workplace - whether that's equipment allowances, food and drink, or discounted merchandise; however, do those policies support your colleagues to reach the workplace in the first place?
The difficulties and expense that the work commute presents may not be immediately apparent to those who work a 9-5 office job, where transport options are far more varied and available; however, deskless workers are often working unusual shift patterns, evening and night shifts, and public holidays - and can be left short of choice. Take a nurse who is working the night shift at a hospital, finishing in the early hours, which potentially leaves a taxi home as their only transport option - this is where the cost of commuting becomes a burden, and absenteeism becomes a viable option to tackle fears of financial scarcity.
