Abstract:
"
It is known that money is a common factor for all humans. Through past research
conducted by various authors, it has been identified that money causes financial stress
to individuals. Based on the results derived from the survey, revel that financially
stressed employees cause an adverse effect in the workplace as they have low
productivity. Moreover, financially stressed employees are observed to allocate work
hours on rectifying financial issues or in certain scenarios, these individuals are
observed to have physical and psychological health issues. Finally, the employers will
have to face increased costs based on employee turnover, loss of productivity and
increase in health care benefit claims.
The research was conducted to evaluate the above-mentioned clause in the IT sector in
Colombo Sri Lanka. The said industry is focused as this is one of the highest income generating industries in Sri Lanka. Further, most of the workforce comprised of
software engineers, which is believed for the said category of employees to have the
minimum opportunity of gain knowledge on finance knowledge. As a result of this, the
existence of the proposed issue among these individuals is high. Due to the
unavailability of reliable information on the total number of software engineers in
Colombo, the researcher followed a random sampling methodology to extract data into
the published questionnaire.
In relation to information derived from the analysis explicit that all employees are
stressed over their financial management. Further, out of proposed independent
variables, the results represent that most employees are stressed due to financial
obligations. Further, employees who have gained knowledge on financial management
have a higher financial literacy rate which felicitates to have reduced stress levels which
ultimately increase the productivity of the same person. Finally, the research proposes
counselling to be a relief for people who have personal financial stress. Further,
applicable recommendations and remedial actions for future research are listed at the
end of the project."
