Americans are not doing well financially. No surprise there, right? However, what may surprise you are numbers from a Harris Interactive poll that show a decent-sized share of adults are blaming their money woes on … you.
Now, that’s not to say employees think employers are completely to blame — they saved that distinction for Congress (72%) and Wall Street (71%). Another large chunk of adults point the finger at large corporations (63%), state government (60%) and local government (47%). Another 47% say their financial woes are President Obama’s fault.
Then, the kick in the gut. For all your efforts to provide competitive pay and benefits amid the most severe economic downturn since the Depression, 33% of workers age 18-32 and 16% of workers age 64 and older say they blame their employer for their financial situation. I guess it’s true no good deed goes unpunished.
Horrifyingly, in true American fashion, adults say those least to blame for their financial situation are their families and themselves. A full 85% don’t blame their family and 61% don’t blame themselves. To me, this sounds a little like blaming McDonalds for obesity.
But, perhaps you have a different – and more forgiving – view. What do you think of workers blaming you in part for financial troubles? Who do you credit/hold responsible for your company’s financial situation?
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11 Comment(s)
Posted by: BenefitJack | February 7, 2010 7:48 PM
Last year, an American Payroll Association study confirmed 73% of Americans said they lived paycheck to paycheck - that survey was conducted after there was a resurgence in savings in the 2nd quarter 2009.
So it is not too surprising that even though those who are employed should feel thankful to some extent, some might blame employers for the malaise they feel once they realize their predicament - there is concern about potential unemployment, the collapse of new opportunities, and the feeling of being trapped by the need for a regular paycheck.
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Posted by: hrcomm | February 4, 2010 9:49 AM
Rich or poor, liberal or conservative...if your company has cut your salary 5% to 20%, you're going to be in a worse position than you were prior to the pay cut. Period. You can be grateful all the day long that you still have a job, but it's still going to be a big adjustment--particularly if you're at the entry level end of the payscale, where money tends to be tighter anyway. And I'm a huge believer in personal responsibility, but when it comes to money, it took a recession to reawaken this particular virtue for a lot of people. I am just outside that "18-32" bracket, but I grew up hearing that credit cards were a good thing (builds your credit score!) and loans are a good thing (pays for school!) and buying stuff keeps America strong (national crisis? citizens, go out and shop!). Saving was something your grandparents did after living through the depression, and you will do sometime in the future...after you furnish your McMansion and buy a big TV and pay the cable bill.
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Posted by: Steve Green | February 3, 2010 5:23 PM
It's not as if employers haven't added to the collective financial pain that most Americans, well everyone but those on Wall Street, are feeling. What with salaries frozen or cut, the cost of benefits being passed to the employees, bonuses eliminated and 401k matches reduced or eliminated. Of course all of this pain is only if you're lucky enough to still be employed. Nevertheless, it sounds like too many Americans either don't have or don't look in the mirror very much.
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Posted by: ksjmom | February 3, 2010 4:16 PM
Let me get this straight...47% of these people blaming Obama were financially sound a year ago, in the height of the recession? I don't think so.
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Posted by: secti | February 3, 2010 3:59 PM
33% of workers aged 18-32 blaming their employers? Please. What would you expect of someone between the ages of 18-32? They're (typically) clueless. Chuchill said, "If you're not a liberal at twenty you have no heart, if you're not a conservative at forty you have no brain." As for the 16% aged 64 & older... well, their employers DID withhold the money out of their checks didn't they? I'm more interested in who the 32-63 year olds blamed. I think people who blame the government are getting closer to the mark, though: institutionalized theft, which is more commonly referred to as "taxation." If the government sent armed agents to stand by the timeclock on payday & collect taxes in cash, instead of employers voluntarily withholding it, there would be rioting in the streets & politicians hanging from trees.
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Posted by: ilene | February 3, 2010 3:13 PM
Of course its the employers fault. Heaven forbid in this age of entitlements, Obama and victimology that someone should actually be responsible for taking care of their personal finances.
the sad thing is that under the current government, such total abdication of personal responsibility seems to be rewarded.
But John Galt is alive and well in America and from what I read, many of those who blame their employers will soon find themselves as their own employer, with only themselves to blame.
Wouldn't it become interesting if employers decided to require employees to show they have accumulated at least 10% of lifetime earnings as a condition for someone getting a job.
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Posted by: Jenifer M | February 3, 2010 2:46 PM
Just another indicator that people refuse to take responsibility for thenselves or their situation. Unbelievable they can't be relieved they have a job.
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Posted by: vpascalejr | February 3, 2010 2:31 PM
The fault is not in our stars (or our employers), but in ourselves.
I can see retirees blaming their companies for terminating defined benefit plans and replacing them with 401(k) plans that were never intended to be a sole corporate retirement vehicle.
But active employees should be grateful to their employers for having a place to go each day where they can be productive.
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Posted by: Compassionate Capitalist | February 3, 2010 2:27 PM
I am fortunate enough to be surrounded by independent responsible people, who do not blame their misfortunes on others. If someone in my organization did feel this way, I would be happy to relieve them from their burdensome position. Perhaps these folks would be better off if they themselves would spend their time and money to start their own businesses. If they did they would soon learn who takes the first pay cut in a recession so that the business can keep as many valuable and needed employees as possible.
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Posted by: Bill K | February 3, 2010 2:22 PM
I realize you are trying to attract readers in the business world, but wouldnt this article be better titled "Your employees blame the government for being broke"?
We will always have unions so we will always have sloffs who blame their employer.....
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Posted by: Aging with Grace | February 3, 2010 2:14 PM
This is not surprising. We live in a culture where nothing is our fault... it's always someone elses!
We all need to control our controlables...
Patricia Grace CEO Aging with Grace
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