Stress in the Workplace: New Research Specific to Financial Advisors and Other Financial Service Professionals

By Dr. Jack Singer

Every year stress in the workplace costs employers billions of dollars from health insurance claims, absenteeism, and poor work quality – but did you know that workplace stress is as dangerous to your health as second hand smoke? A new review of 228 studies shows just how dangerous workplace stress is, making it more important than ever to find productive ways to deal with stress in your financial service career.

In the review of 228 studies, each with at least 1000 participants, several workplace stressors were analyzed, including:

  • Work-family balance issues
  • Job insecurity
  • High job demands

Results showed that work-family balance issues were related to more health issues than secondary smoke.  Job insecurity and high job demands were related to the same amount of health issues as secondary smoke.

Similar results were found relating these stressors to mental health issues, including anxiety, depression and alcohol abuse.

For financial services professionals, these three job stressors go with the territory.  Think about the insecurity felt by insurance agents and advisors who have quotas to meet in order to keep their high-demanding jobs.  In order to manage those challenges, these people spend inordinate amounts of time worrying about their work and prospecting for clients, causing major conflicts balancing time with their families.

Assuming the demands of these jobs cannot be significantly modified, the “solution” is to learn how to master these stressors, which is precisely why I wrote “The Financial Advisor’s Ultimate Stress Mastery Guide.” Practicing these tips will not only significantly modify your stress, but can prevent it from occurring in the first place!