IMPACT OF ORGANIZATIONAL STRESS ON THE PERFORMANCE OF FINANCE DEPARTMENT AND THE MEDIATING ROLE OF FINANCIAL LITERACY

Abstract

Most of the researchers described the various factors that contribute to work stress. The researcher Cooper explains the six factors that can cause the work stress. Work stress has direct impact on the performance of subordinates of finance department and their financial manager. The six factors that are the sources of work stress are defined by cooper are as follows; intrinsic to job, role in the organization, relation with subordinates, structure and environment of organization and career development (Cooper CL, 2000). Other scholars also emphasize the precision of these above factors. In 2013, Joy and Radhakrishnan focus put emphasis on the four factors of work stress. They focus on work related stress, organization related stress, relationship with other followers and career growth (J. Joy, 2013). Sometimes in organization, management is unable to handle the stress of work load on financial Managers and on his subordinates. This lack of concern towards finding the right solution results in poor performance of employees. Researchers Imtiaz and Ahmad States that when the management of organization could’nt find the right solution for this stress ill, the performance of employees badly effected. They become less satisfied And could’nt perform well. Organization may lose its important assets. So this situation can spoil the image of organization in the eyes of consumer. They also stated that organization must promote stress management practices for increasing satisfaction and productivity of employees (Imtiaz, 2009). Another researcher Bamba describes that when there is no aid from the management, then burden of job tasks, on time completion, insecure job and work life disparity can be the reasons of work stress and as a result can lower the performance level of employees (Bamba, 2016). Lenver illuminate the negative association between high demanding condition and less control of work at organization. He states when demand increases the control on work becomes impossible (Levner, 1994). Some scholars state that workplace can also be the reason for producing work stress (Khattak, 2011).