Last week’s blog addressed the ways Financial Codependency can affect an individual’s personal life. Today’s blog will explore Financial Codependency in the business world. Codependency occurs when a person places the needs of others above their own needs. This aspect of behavior is developed during childhood, and remains with individuals in every facet of adult life. Thus, Financial Codependency can present critical challenges in a professional setting.
If a business person is in charge of making decisions that impact the bottom line, surely they must be free from Financial Codependency, right? Not so. All too often, the business sphere is affected by the same issues that can be found in personal life, and Financial Codependency is one of them.
The ways Financial Codependency occurs in the business world are many. For instance, a business owner may feel pressured to offer undue discounts, thus devaluing their service. They may write things off, when in fact they don’t need to. Another common scenario is a business person who keeps a problem employee on staff because they don’t believe they have any other choice. As an unworthy individual eats into the bottom line, management may begin to grow frustrated or resentful.
Financial Codependency occurs in the business world when one person places the emotional needs of others on themselves. Maybe a staff member approaches them with stories of ‘I can’t afford the things I need for my family.’ The business owner might feel a need to take care of that person, neglecting financial responsibility to their company’s success.
In a professional setting, it can help to partner with others who have different emotional beliefs about money. Financial Codependency can then be somewhat counteracted. By accepting and identifying Financial Codependency in the business place, work can be done to resolve the deeper emotional issues behind it.