The legal, psychological, and employment implications of over-indebtedness and financial stress cannot be ignored.
Thats according to Associate in Employment Law at Cliffe Dekker Hofmeyr, Malesela Letwaba.
Letwaba says excessive debt has been linked to deteriorating mental health, impaired decision-making, and diminished functional capacity.
Employees with changing times, rising inflation and the demand for more wants tend to over indebt themselves or become financially over stretched and as a result when they are unable to meet their financial commitments. It has a knock-on effect on their ability to perform at work, mainly because they are stressed out in that they cannot meet their financial obligations and thereafter their work outputs, their productivity, the morale is affected in the workplace. This is the mental effects of one being over stressed vs their performance in the workplace.
PODCAST Over-indebtedness and mental health: