Financial security spirals at work: A review, integration, and agenda for intervention

Abstract

Attaining and maintaining financial security is a central goal of work, yet financial insecurity is arguably the most prevalent and pernicious stressor plaguing the workforce today. Prevailing organizational approaches to managing financially insecure workers fail to address this issue, perpetuating financial insecurity without improving performance. This review summarizes mechanisms linking financial insecurity to behavior, future financial resources, and future financial security, and in doing so identifies boundary conditions and theory-driven interventions to attenuate financial security loss spirals and trigger financial security gain spirals at work. In the process of reviewing this literature, we also identify redundant constructs converging on subjective perceptions of one's financial position and suggest an approach intended to reduce construct proliferation. Finally, we highlight actionable insights to help address the negative causes and consequences of financial insecurity at work.