research - What the heck do you know.professor? Professor...

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What the heck do you know…professor? Professor W. Hochwarter College of Business Florida State University Spring 2012
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Recession: It’s Role on Work and Life NOTE All of the research that we discuss today was conducted by me with the frequent assistance of talented undergraduate and graduate students. Not all final conclusions are mine, although I am responsible for the collection, analysis, and initial presentation. Direct any questions to me if clarification or interactive discussion is desired.
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The presentation of topics is not in any order (importance, chronology, viewership, etc.). It represents an amalgamation of general ideas in this important area.
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First Topic: Escalating gas prices
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Escalating gas prices…? Really that big of a deal? UPI - International Article
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General Findings Over 800 full-time workers (15 mile commute each way): q 60 percent of respondents have to rethink the way they spend money. q 41 percent have paid off debt more slowly. q 43 percent have cut back on recreational activities. q 25 percent have gone without basic necessities (food, heat, etc.). q 44 percent are worried about how they are going to make ends meet.
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Other Findings/Conclusions “Changes in personal finance were associated with lower levels of job performance, less enthusiasm, less willingness to help others, fewer positive feelings about the organization, higher levels of depression and an increased sensitivity to minor irritants at work.” “Interestingly, more than one-third (35 percent) of employees indicated that they would change jobs with comparable pay and responsibility if some form of assistance was offered.” Employees distracted on the job by their gas-price concerns also reported being more sluggish, antagonistic and sad. And those who felt their companies didn't change the way they do business because of gas prices, performed, on average, at levels 12 per cent lower than their peers; were 20 per cent less willing to stay late or work an extra day if asked; and were 25 per cent less likely to give "maximum effort.“ (Macleans – June 11, 2007)
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The Takeaway Know the “General Findings” Understand first finds it relates to job performance etc. Maclean’s report on activity at work…
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Second topic: Financial well-being
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Here today, gone tomorrow
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General Findings Over 300 married couples – both working full-time: q In the face of record unemployment and layoffs, the study found that many people (42 percent) could maintain their current standard of living for just one month or less, while the majority of those asked (55 percent) reported three months or less. q 80 percent of employees reported being nervous about their long-financial well-being q More than 80 percent of both men and women also admitted that it was unlikely they would be able to retire when they wanted and with the amount of money anticipated as recently as one year ago.
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research - What the heck do you know.professor? Professor...

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