What Kind of Christmas Will It Be for Wall Street This Year?

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Austerity measures are making their way to the US as well, with one in five people who work on Wall Street on track to not receive a bonus this year, according to the Wall Street Journal (http://on.wsj.com/Ri6aor). Financial and relationship therapist, Dr. Bonnie Eaker Weil is worried that continued corporate Financial Infidelity is leading to "punishment" of those who are working harder and longer.

Roughly 20 percent of people on Wall Street won't receive bonuses this year, which is up from 13 percent last year, says the Wall Street Journal (http://on.wsj.com/Ri6aor). Financial expert and relationship therapist, Dr. Bonnie Eaker Weil is worried that as the economy remains sluggish, these employees are being punished for the poor decisions their companies made in past years.

"People are often working harder, putting in longer hours, and even doing the job of more than one person to compensate for lay-offs," says Dr. Bonnie. Based on pure merit alone, if ever there were a time for bonuses, it would be now! Unfortunately, she believes that because of corporate "financial infidelity" - a term she coins in her book of the same name - employees won't be getting the end-of-year bonuses they deserve, through no fault of their own.

Dr. Bonnie often treats couples that suffer from Financial Infidelity, but she says the term can be applied to corporations as well. "It essentially has to do with being dishonest about money. In a romantic relationship this can play out when one person makes purchases behind their partner's back. Within a company, a similar scenario is possible but on a much wider scale." She points to the events that led to the economic collapse as evidence of corporate Financial Infidelity, and even recent dishonest actions by other banks. Unfortunately, Dr. Bonnie points out, these actions seem to be affecting those on Wall Street, not the institutions themselves.

It can also be a feedback loop. Because they don't feel rewarded for their work and loyalty, more and more people are leaving Wall Street, according to this article. Dr. Bonnie is worried that this will leave more work on the shoulders of people who already feel under appreciated. Fortunately, Dr. Bonnie says, financial incentives aren't the only thing to encourage employees. "A kind word and an open, communicative environment goes a long way," she says. And she encourages companies to employ her Smart Heart Skills and Dialogue. "Smart Heart provides a place for people to be honest about what they're going through. I typically prescribe it for my patients in a relationship but it can work on the job as well."

Dr. Bonnie suggests that workplaces provide the opportunity to talk honestly about austerity - and to be sure and provide lots of emotional and verbal support, especially when the finances aren't available to back it up. Dr. Bonnie explains that employees need a chance to hear each other's point of view, to remain in solidarity, and to feel encouraged. Then Wall Street employees won't have to break up with their jobs - they can make up.

Dr. Bonnie talks more about these skills in her book, Make Up Don't Break Up, as well as in this video: http://youtu.be/a-hlUgnwLXc. To see her talk more about Financial Infidelity and Smart Heart, click here:http://youtu.be/BjrqJoWX3K4. Check out Dr. Bonnie's channel “5 Star Video Contributor" via YouTube/Google”https://www.youtube.com/user/drbonnieweil.

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