 |
 |
|
Return to main page on
Violence and stress at work
Financial services; professional services:
Sector-specific information on violence and stress
Workforce cutbacks within banking, finance and insurance organizations
are a major concern for employees: 78% of a sample of union safety representatives
reported cutbacks as the major complaint raised by union members. In a UNIFI poll
of members on the effects of work-related stress in financial services (2000)
83% of respondents reported feeling ill effects from work, including heath problems,
lack of self-confidence, relationship problems and anger, 79% felt overloaded
or burned out routinely, 76% admitted to “cutting corners” because
of workload, 74% reported that staffing levels had fallen over the last twelve
months, 77% worked unpaid overtime averaging to about 4 hours a week, 21% had
suffered from illness caused by work-related stress, and 9% were reaching or exceeding
the levels set by health and safety working time regulations. Research conducted
in the financial services sector identified that stress can also increase the
likelihood of mistakes and confrontation as workers cut corners to achieve targets
– 81% believe anger in the workplace has negative effect on morale, 74%
are less productive when in a bad mood, and 15% work slower (in fear of making
a mistake) when their boss is angry. Fear of violence is often on the minds of
individuals who handle cash on a regular basis, and can be a major cause of mental
and physical distress.
Bullying in organizations can be perpetrated in subtle and
devious ways, making individuals feel demotivated and worthless. It remains a
significant cause of stress at work - mentioned by 30% of TUC safety representatives
who reported stress as a problem. Furthermore, bullying as a cause of workplace
stress is reportedly high in banking and finance, at 43% (TUC Focus on Health
and Safety Survey, 2000). Accounting for nearly half of all stress-related sickness
absences, bullying is particularly prevalent in pressurized sectors such as finance
(UNIFI poll of members on understaffing issues in the banking and insurance sector,
2000).
The financial services sector has traditionally been dominated
by male workers particularly in senior management posts, and this can create hostile
working environments for female employees. Sexual harassment, particularly within
the banking sector, is prevalent in several European countries, according to a
European Commission survey (1998). Focus group interviews identified that participants
considered it to be widespread and many had personally witnessed or experienced
cases. However, they often found the term “sexual harassment” unsuitable,
as related harassing behaviours are frequently perceived as “normal”.
Moreover, women were often unwilling to challenge unacceptable sexual behaviour,
as this was viewed as risking their employment within the bank.
Additional information related to workplace violence
and stress
in Financial services; professional services
|
