Financial Stress of the Selected Business Process Outsourcing

(BPO) Agents: Basis on Action Plan

____________________

A Research Proposal
Presented to the Graduate School
University of the Immaculate Conception
Davao City

____________________

In Partial Fulfillment of the

Requirements for
RES12B

Darwin Z. Durian
Kent Brian D. Dutosme
Dann Andre S. Eviota
Jason Kyle L. Ferolino
Kyla Marie B. Gaga-a

May 2023

i
 Table of Contents

Page

Title Page i

Table of Contents ii

List of Figures iii

Chapter

1 Introduction

Background of the Study

1 Statement of the Problem

Literature Review 5

Theoretical Framework

15

Conceptual Framework 17

2 Methodology

Research Design 21

Research Locale 21

Research Respondents 23

Research Instruments 24

Data Collection 25

Statistical Tool 25

ii
 Ethical Considerations 26

References 29

Appendices

A. Survey Questionnaire 37

List of Figures

Figures Title Page

1 Conceptual Framework 18

2 Maps of the Philippines and Davao City 22

iii
 1

Chapter 1

Introduction

Background of the Study

In the past, financial stress has been attributed to a variety of conditions. Among

them are depression, anxiety, and mental health problems. According to Olafsson

(2016), as referenced by Rodrigues et al. (2021), financial stress produced by an

economic crisis can considerably contribute to anxiety. Moreover, González and Vives

(2019) discovered that financial stress was substantially connected with depression.

Naijie Guan et al. (2022) found a more vital link between financial stress and depression

in persons with lower wealth or income levels. McCloud and Bann (2019) observed that

financial stress was a substantial predictor of poor mental health among British higher

education students., with greater levels of depression, anxiety, and stress and worse

levels of life satisfaction and overall well-being. Furthermore, Caron (2022) stated that

how an individual perceives and reacts to financial stress can impact their mental

health, noting that people who are more affected by their financial struggles have higher

depression scores even after controlling for other factors such as health and income.

The negative impacts of financial stress on mental and physical health are well

recognized. Therefore, determining social support's function in alleviating these effects

is critical (Aslund et al., 2014). The intensity of financial stress can range from universal

instances during an economic downturn to acute immobility for people trying to satisfy
 2

financial responsibilities (George & Kane, 2016). Furthermore, research has found a

correlation between financial stress and low financial literacy, which can lead to bad life

choices and even homelessness (Steen & MacKenzie, 2013). Stolbov and Shchepeleva

(2016) point out that financial stress affects not only families and individuals but also the

economy as a whole, resulting in decreased investment, increased unemployment,

slower economic growth in emerging markets, and even systemic risks for the global

financial system, emphasizing the importance of understanding its impact and

developing effective strategies to address it. Moreover, Dahalan et al. (2016) highlight

the significant concern of financial stress in the Malaysian economy, which can be

credited to many variables, including the global economic slowdown, falling commodity

prices, and declining domestic demand, and suggest that measuring financial stress is

essential for policymakers to monitor the economy's overall health and implement

appropriate policies to address potential risks.

Past study has found a strong relationship between financial stress and

demographic factors such as income, age, and gender. According to Rui Huang et al.

(2020), older persons in underdeveloped nations are more exposed to financial stress

and its effects on their health and well-being. Meanwhile, Perzow et al. (2018) revealed

that low-income parents' financial stress reactions vary according to their psychological

functioning. Sheehan et al. (2020) discovered that workers who received their primary

income from social assistance or insurance were more likely to experience financial

stress than those who received their primary income from wages or salaries. Lastly,

Tran et al. (2018) discovered that financial stress was related to anxiety among college

students, with family support and gender mitigating the relationship.

 3

Despite the extensive study on the effects of financial stress on mental and

physical health, there still needs to be a substantial knowledge gap addressing the

financial stress of business process outsourcing (BPO) agents. While studies have

examined financial stress in various demographic groups, such as Black college

students' relative income (White Jr., 2020) and the variability of financial stress over

time for low-income mothers (Valentino et al., 2012), a comprehensive investigation of

financial stress among BPO agents has not yet been conducted. This research gap is

significant because BPO agents face unique financial challenges, such as inconsistent

pay and long working hours, making it easier to implement effective strategies for

enhancing their well-being and financial stability with a comprehensive understanding of

their financial stress.

The findings will be helpful to politicians, organizations, and people devising

effective treatments to alleviate financial stress. The researchers want to publish the

findings in academic publications, share them via internet channels, and offer a copy to

the undergraduate University of the Immaculate Conception (UIC) Library. Furthermore,

the findings will serve as the foundation for an action plan. They will give helpful

recommendations to relevant organizations, such as business process outsourcing

(BPO) industry groups, to raise awareness regarding financial stress among BPO

agents.
 4

Statement of the Problem:

The researchers aim to measure financial stress among individuals with different

income levels. This study also seeks to answer the following questions:

1. What is characteristic of the respondents in terms of:

1.1. Age
1.2. Sex
1.3. Income
1.3.1. 10,000 – 20,000
1.3.2. 20,001 – 30,000
1.3.3. 30,001 – 40,000
1.3.4. 40,001 – Above

2. What is the level of financial stress among individuals, as measured by their:

2.1. Affective Reactions

2.1.1. Depression
2.1.2. Anxiety
2.1.3. Emotional Exhaustion

2.2. Relational/Interpersonal Behaviors

2.2.1. Work-related
2.2.2. Non-work Related

2.3. Biophysiological Responses

2.3.1. Physiological Response
2.3.2. Sensory Response

3. When grouped according to respondents' profiles, is there a significant difference in

financial stress and income level?

4. Based on the results, what action plan can be proposed?

 5

Review of Related Literature

The next chapter provides a complete survey of the literature pertinent to this study.

This part provides a framework for the study by giving essential theories, principles,

concepts, and opinions directly connected to the study's variables.

Financial Stress

Financial stress contributes significantly to employee melancholy, anxiety, and

physical health problems, with job uncertainty, poor income, excessive debt, and lack of

financial resources being the most prevalent stresses (Sinclair & Cheung, 2016). In a

study conducted by Gilbert et al. (2017), it was discovered that the financial stress and

depression of Hispanic immigrant parents severely impacted their academic

engagement, which in turn harmed their children's academic achievement. Additionally,

Tariq (2012) reveals that financial stress can cause anxiety and sadness, leading to

decreased life satisfaction, especially for people with lower earnings and more

outstanding debt.

Due to its potential to significantly impact families' financial status and well-being,

studying the effect of economic conditions on financial stress is vital (Friedline et al.,

2020). In addition to its effects on family ties, financial stress has more considerable

repercussions, such as causing moms to become less active and adolescents to leave

the nest sooner (Cobb-Clark & Ribar, 2012). Heckman et al. (2014) identify high levels

of debt, low income, and financial illiteracy as the primary causes of financial stress,
 6

while Mittnik and Semmler (2013) note that it can lead to significant adverse outcomes,

such as decreased economic growth, increased unemployment, and decreased

consumption. Moreover, financial stress can harm households and people, resulting in

deteriorating mental and physical health, increasing debt, and diminished well-being.

Additionally, financial stress can adversely affect the economy, resulting in less

economic activity, higher unemployment, and fewer investments (Hubrich & Tetlow,

2014). Aboura and Roye (2017) add that financial stress adversely affects France's

economic growth, employment, and inflation, making the banking sector more

susceptible to its effects.

Affected Reaction. Conner et al. (2013) discovered that donation behavior was

substantially influenced by positive expected affective reactions, highlighting the

importance of establishing positive emotional associations with beneficial activities.

Following this, Conner et al. (2015) emphasized that interventions to promote behavior

modification should concentrate on modifying attitudes about conduct and affecting the

expected affective responses associated with that behavior. Chung's (2015) research

on driving behavior provides more evidence that expected affective reactions play a

critical role in behavior modification, with treatments targeting both habit strength and

anticipated affective reactions to improve safer driving behavior. In addition, Lench and

Bench (2015) argue that the intensity of affective reactions might influence cognitive

processing, with intensely adverse affective reactions resulting in more cautious

information processing to prevent bad outcomes. These findings are congruent with

those of Heo et al. (2017), who found that financial stress is associated with negative

responses such as anxiety, unhappiness, and frustration, which lead to bad financial
 7

conduct. Lastly, Barlow et al. (2014) identified anxiety, sadness, and rage as

problematic reactions, with anger mainly associated with emotional tiredness, and

suggest analyzing affective reactions based on three subcategories: depression,

anxiety, and emotional exhaustion.

Depression. First, Thapar et al. (2012) emphasized the incidence of

depression in teenagers, with up to 20% suffering a severe depressive episode by age

18. Ford et al. (2020) further underlined the significant association between financial

strain and depression, with persons suffering from both illnesses exhibiting more severe

depressive symptoms. In addition, Ibrahim et al. (2013) identified academic stress,

social isolation, and financial issues as factors contributing to the high frequency of

depression among university students. Despite this, GY Lim et al. (2018) discovered

that community depression has grown internationally, ranging from 2.6% in Japan to

21.3% in Brazil.

Anxiety. Further emphasizing the need to manage anxiety disorders is the

fact that anxiety is a widespread disorder that affects a substantial section of the

population (Bandelow & Michaelis, 2022). However, anxiety can present distinct

difficulties, resulting in diminished cognitive function and decision-making and

diminished financial well-being (Grable et al., 2015). Certain cultures may communicate

their anxiety symptoms through physical problems, underscoring the significance of

culturally appropriate diagnosis and therapy (Hofmann & Hinton, 2014). Despite these

obstacles, there are effective therapies for anxiety disorders, and an early and precise

diagnosis is essential for preventing chronicity and comorbidities. Hence, healthcare

 8

practitioners should emphasize the treatment of anxiety disorders in order to minimize

the detrimental effects of untreated anxiety (Strohle et al., 2018).

Emotional Exhaustion. In recent years, the frequency of emotional

exhaustion among professionals in numerous sectors has been a significant issue.

Porter et al. (2018) revealed that directors of family medicine programs feel significant

levels of emotional exhaustion, with variables such as workload and lack of control at

work contributing to the problem. Nevertheless, the study also indicated that personal

resilience, coping mechanisms, and social support could assist in reducing emotional

exhaustion and increasing job satisfaction and engagement. Similarly, Seidler and

Thinschmidt (2014) did a comprehensive study. They found that high job demands, low

job control, inadequate social support, role conflict, and inadequate organizational

fairness were consistently related to emotional exhaustion. Naring et al. (2012)

researched emotional exhaustion in teachers and discovered that workload and job

ambiguity contribute to the problem. Hwa (2012) discovered that employees who

participated in more significant emotional labor were more susceptible to emotional

exhaustion. Furthermore, García et al. (2012) discovered that emotional irritation was

positively associated with emotional exhaustion in nursing staff, but more significant

levels of resilience acted as a buffer against emotional exhaustion.

Relational/Interpersonal Behaviors. Rodrigues et al. (2018) conducted a

comprehensive study and discovered that interpersonal behaviors such as social

support, feedback, and motivation were positively connected with physical exercise

adherence. Including behavior modification strategies that target interpersonal

behaviors might enhance physical exercise programs, according to the review.

 9

Using naturalistic observation, the role of interpersonal behavior patterns in

discriminating depression and anxiety symptoms has been investigated. Rappaport et

al. (2014) examined and analyzed the interpersonal behavior of participants in their

daily lives, discovering that persons with depression demonstrated less positive affect

and less social engagement. In contrast, individuals with anxiety displayed more

negative affect and more self-focus. Fischer et al. (2020) discovered that persons with a

higher metacognitive capacity had better social functioning and less maladaptive

interpersonal behavior, such as withdrawing or being aggressive, while having more

symptoms.

In East Asian classrooms, effective teacher-student interactions depend on

teachers' interpersonal behavior. In China, Japan, and South Korea, Sun et al. (2019)

showed that educator warmth was positively linked with the quality of teacher-student

interpersonal connections. The connection between teacher control and the quality of

teacher-student interpersonal relationships differed in the three nations.

Work-related. Work-related stress has detrimental effects on individuals

and organizations, as research demonstrates. Skogstad et al. (2013) revealed that

exposure to distressing workplace events could result in work-related PTSD. In addition,

Hassard et al. (2018) examined the societal cost of work-related stress. They found that

it has various adverse effects, such as decreased productivity, absenteeism, and high

turnover rates. On the other hand, Rauschenbach et al. (2013) discovered that older

workers usually report lower levels of work-related stress than younger workers due to

their more excellent experience and more effective coping strategies. Nonetheless, they

may encounter various anxieties associated with job stability or retirement.

 10

In addition, Querstret and Cropley (2012) discovered that work-related

ruminating could result in worse sleep quality and increased work-related weariness.

The more a person participates in work-related ruminating, the more likely they will

experience problems falling asleep and daytime weariness. Lastly, Yu et al. (2019)

discovered personal and work-related characteristics linked with nurse resilience,

including a favorable work environment, job satisfaction, and support from colleagues

and supervisors. In contrast, a heavy workload, a lack of autonomy, and insufficient

assistance were correlated adversely with nurse resilience. Together, these studies

demonstrate the significance of addressing work-related stress and providing people

and organizations with support and tools to mitigate its detrimental effects.

Non-work Related. Many studies have discovered a variety of

characteristics that impact the return-to-work expectations of long-term non-work-

related sick leave recipients. Sampere et al. (2012) discovered that employees with a

favorable attitude toward returning to work, effective communication with their employer,

and access to helpful services are likelier to return to work sooner and enjoy better

results. Companies should give workers helpful services and maintain effective

communication to enable their return to work. Ng et al. (2016) observed that employees

who utilize avoidance coping techniques are likelier to participate in non-work-related

social media use at work. This conduct is linked to adverse effects such as lower

productivity, decreased work satisfaction, and elevated stress levels. According to

Catalina-Romero et al. (2015), a bad psychosocial work environment is associated with

more remarkable non-work-related illness absence. To minimize non-work-related

illness absences, employers should address variables such as excessive job

 11

expectations, limited job control, and low social support from colleagues and

supervisors.

Moreover, according to Akhtar and Malik (2016), employees who

experience high levels of work-family conflict are more prone to participate in non-work-

related presenteeism, which is being physically present at work but mentally

disengaged or distracted by non-work-related activities. Soh et al. (2017) developed a

conceptual framework for comprehending the interaction between cyberloafing and the

non-work domain. To prevent cyberloafing and its negative impacts on the non-work

domain, employers should evaluate elements in both the work and non-work domains,

such as job expectations, social support, personal requirements, social norms, and

technological access.

Biophysiological Responses. Stress and its effects on the body are reflected

mainly by biophysiological reactions. In a study by Monfared et al. (2020), athletes who

experienced burnout had decreased heart rate variability and increased cortisol levels.

Overall, the findings suggest that burnout relates to heightened biophysiological stress.

Grizzard et al. (2015) investigated the habituation and generalization of self-

reported and physiological arousal responses to video games. The scientists discovered

that repeated exposure to the same video game decreased arousal levels, indicating

that the excitement of playing the game waned with time. Nevertheless, the scientists

also discovered signs of generalization, indicating that the biophysiological reactions

were not unique to the game.

 12

Physiological Response. In Campbell & Ehlert's (2012) study,

researchers aimed to determine the relationship between emotional and physiological

responses to acute psychosocial stress. Despite employing the Trier Social Stress Test

to induce stress in participants and evaluating self-reported emotional reactions, cortisol

levels, and heart rate variability, the study discovered that self-reported emotional

responses did not necessarily coincide with physiological responses. These findings

indicate that the link between emotional and physiological stress reactions is intricate

and subtle.

Crum et al. (2017) researched the connection between mentality and

stress reactions. According to the study, those with a more optimistic outlook on stress

had more significant adaptive responses to difficult and dangerous stress. These people

had less cortisol response, reported fewer unpleasant feelings during stress, and

regarded stress as a challenge instead of danger. These findings imply that a person's

outlook significantly influences their cognitive, emotional, and physiological reactions to

stress.

Similarly, Hunter's (2014) study emphasized the importance of

physiological and psychological variables in sex variations in fatigability. The study

revealed that pain, effort perception, and motivation might contribute to these disparities

in weariness. When evaluating gender variations in weariness, it is essential to examine

physiological and psychological aspects, as demonstrated by these data.

Lastly, Jamieson et al. (2012) studied how the reinterpretation of

physiological arousal may alter individuals' cognitive and cardiovascular responses to

 13

stress. According to the study, those trained to reappraise their arousal had decreased

cardiovascular reactions to stress and enhanced cognitive performance during the

stress test. These findings show that cognitive therapies that assist individuals in

reinterpreting their physiological reactions to stress may help minimize the harmful

consequences of stress.

Sensory Response. Patten et al. (2013) explored the sensory response patterns of

persons with autism spectrum disorder (ASD) in their study. They discovered that

nonverbal individuals with ASD had unusual reactions to sensory stimuli, including

heightened sensitivity to touch and sound, reduced sensitivity to taste and smell, and

difficulties with sensory integration. Meanwhile, Richter et al. (2018) found that the brain

can predict and inhibit responses to predictable stimuli, as demonstrated by the

suppression of sensory responses in the ventral visual stream when predictable items

are presented. These results indicate that sensory response patterns and prediction

processing are essential to comprehend how the brain processes sensory information.

Furthermore, Potter et al. (2016) discovered that communication between

cells in multicellular networks can improve the network's sensory response, resulting in

more precise information processing and decision-making. In addition, they observed

that communication could assist cells in differentiating between various types of stimuli,

leading to more efficient responses to environmental changes. In contrast, Case et al.

(2017) observed that abnormalities in the white matter of the somatosensory cortex in

transgender persons might result in modifications in sensory response to body

sensations.
 14

Differences in the Level of Financial Stress

Initially, financial stress is a phenomenon that affects several individuals and is

impacted by many demographic factors. According to Drentea and Reynolds (2012),

income and education are the main contributors to financial stress. Notably, persons

with lower incomes and levels of education tend to feel tremendous financial strain. In

addition, age has a lesser effect on financial stress than income and education.

In addition, Agrigoroaei and Lee-Attardo (2017) discovered that financial stress

substantially impacted individuals' age perceptions. Those who reported higher levels of

financial stress were more likely to feel older and be viewed as older by others,

according to one study. Sharp et al. (2013) also explored the influence of financial

stress on psychological health. Their findings revealed a strong association between

financial stress and unfavorable psychological consequences, including anxiety,

despair, and distress. The study indicated that lower-earning persons were likelier to

experience financial stress and associated adverse psychological effects. Carroll et al.

(2020) also investigated the effect of income on financial stress levels, specifically

during the COVID-19 pandemic. They discovered a correlation between a higher salary,

less financial stress, and greater food security. During the epidemic, moms also

suffered higher levels of stress and lower psychological well-being than dads.

In addition, Fung et al. (2014) examined the effects of financial stress on access

to healthcare. They discovered that low-income families with asthmatic children

encountered considerable challenges to healthcare access, such as difficulties paying

for medical treatment and insurance. These data indicate that money is a crucial
 15

determinant in financial stress and healthcare access. Sivarajah et al. (2014)

investigated the association between financial stress and personal characteristics

among Sri Lankan schoolteachers. According to their findings, schoolteachers with

lower wages and bigger family sizes suffered more significant financial strain. In

addition, female instructors reported experiencing more significant financial stress than

male teachers. Archuleta et al. (2013) investigated the impact of demographic

characteristics, including gender, age, and ethnicity/race, on the relationship between

financial stress and well-being. Their findings indicated that female students and

students from ethnic or racial minority groups were more likely to report experiencing

financial stress and anxiety than male and white students.

Finally, the researchers employed relevant literature and studies to strengthen

the significance of their investigation and show a connection between the variables. In

addition, the concepts and principles acquired from the readings assisted the

researchers in establishing the theoretical and conceptual framework of the study and

developing the survey questionnaire for the investigated variable.

Theoretical Framework

The conceptual foundation of our study will be based on Hobfoll's Conservation

of Resources (COR) theory (1989). According to this notion, individuals and

organizations deal with stress and adversity by protecting and enhancing their

resources. As proposed by the COR theory, our study will also investigate the

relationship between individuals and their work environment by studying how they

conserve and increase their resources in the face of stress and adversity. In addition,
 16

the COR theory underscores the importance of keeping and obtaining resources and

how individuals utilize their resources to prevent losses and realize gains. The research

conducted by Halbesleben et al. (2014) indicated that the COR theory is a valuable tool

for comprehending how individuals manage and preserve their resources in diverse

situations, such as work and personal life. In addition, the research indicated that

resources might take numerous forms, including physical, psychological, and social

resources. In addition, the authors underlined that the COR theory shows that resources

are crucial to an individual's stress and well-being. Hence, the authors hypothesized

that the COR theory could give vital insights into occupational stress and employee

well-being.

Bakker & Demerouti (2014) investigated the importance of job resources in COR

theory, focusing specifically on the job demands-resources (JD-R) hypothesis, which

postulates that job demands and resources might influence employee engagement,

burnout, and performance. In addition, the authors discovered that workplace

resources, such as social support, autonomy, and feedback, can favor employee well-

being and work-related outcomes, even when job demands are high. Therefore, the

authors hypothesized that workplace resources might serve as buffers against the

negative consequences of job demands, allowing individuals to save personal

resources and maintain optimal functioning.

In their study, Toker and Biron (2012) employed the COR theory to analyze the

association between work-family conflict and burnout. According to the study, work-

family conflict was connected with the depletion of personal resources, leading to higher

employee burnout. In addition, the study found that depleted personal resources
 17

mediated the relationship between work-family conflict and burnout. The authors

hypothesized that the COR theory might be used to explain how work-family conflict can

result in adverse job outcomes, such as burnout.

Based on the mentioned findings, the Conservation of Resources (COR)

hypothesis may be a helpful framework for comprehending the link between financial

stress and numerous demographic characteristics. According to the COR hypothesis,

humans attempt to save resources, such as time, energy, and money, and experience

stress when these resources are threatened. In financial stress, the individual's financial

resources are at risk. According to the notion, those with more excellent resources are

better suited to deal with financial stress because they can save and restore their

resources more effectively. Carroll et al. (2020) discovered that a more significant

income was related to decreased financial stress. Moreover, Agrigoroaei and Lee-

Attardo (2017) discovered that persons who experienced more significant levels of

financial stress were more likely to report feeling older and being viewed as older by

others, suggesting that financial stress may affect an individual's sense of self.

Conceptual Framework

The conceptual framework in Figure 1 provides a way of understanding the

interactions of different indicators and sub-indicators among the primary variable. In this

research, the main variable is Financial Stress. In contrast, the modifying variable is the

demographic profile and professional characteristics of the business process

 18

outsourcing (BPO) agents that will be used for developing an action plan as an output.

The demographic profiling underscores three indicators, Age, Sex, and Income.

The primary variable, Financial Stress, as defined by (Heo et al., 2020), extends

beyond simple emotional worry about money. It is a process that combines financial

stressors with behavioral responses that include both psychological and physiological

responses. It has three indicators and seven sub-indicators. The first indicator, Affective

Reaction, has three sub-indicators which are Depression, Anxiety, and Emotional

Exhaustion. The second indicator, Relational / Interpersonal Behaviors, has two sub-

indicators: Work-Related and Non-Work Related.

Main Variable Output

Financial Stress
1. Affective Reactions
1.1. Depression
1.2. Anxiety
1.3. Emotional Exhaustion
Action
2. Relational/Interpersonal
Plan
Behaviors
2.1. Work-related
2.2. Non-work Related
3. Biophysiological Responses
3.1. Physiological Response
3.2. Sensory Response
 19

Profile
1. Age
2. Sex
3. Income
3.1. 10,000 – 20,000
3.2. 20,001 – 30,000
3.3. 30,001 – 40,000
3.4. 40,001 – Above

Figure 1. Conceptual Framework of the Study

Lastly, the third indicator is Biophysiological Responses, and it has two sub-

indicators: Physiological Response and Sensory Response.

The first indicator is Affective Reaction, which is a person's physical and

emotional response to a situation, and it could be happiness, depression, anxiety, or

emotional exhaustion. The first sub-indicator is depression, a mood disorder that

causes persistent sadness, emptiness, and loss of joy. The second sub-indicator is

anxiety, characterized by tension, anxious thoughts, and physical changes like

increased blood pressure. The third sub-indicator is Emotional Exhaustion, which

states that you feel emotionally worn out and exhausted due to accumulated stress

from your personal or professional lives.

 20

The second indicator is Relational / Interpersonal Behaviors, which refer to

the actions and behaviors within human relationships. It could be from family,

friends, workmates, and peers. The first sub-indicator is Work-Related, which refers

to a person's behavior inside the workplace—for example, being absent due to

financial stress, having a hard time fitting within co-workers, not joining team-

building activities, and more. Lastly, the second sub-indicator is Non-Work Related,

which refers to a person's behavior in non-work related activities, which could be

through communication or action—for example, arguing with husband or wife,

avoiding interactions with friends.

The third indicator is Biophysiological Response, which refers to a person's

response when feeling something like stress. The first sub-indicator is Physiological

Response, which refers to the body's automatic reaction toward stress—for

example, having a hard time sleeping, overeating or less, and having stomach

aches. Moreover, lastly, the second sub-indicator is Sensory Response, which

refers to the ability to organize and analyze information obtained via the senses to

produce a response—for example, feeling fatigued due to financial stress, being

more sensitive to noises, having a hard time listening to music.

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CHAPTER 2

METHODOLOGY

This chapter will introduce the research design, research locale, and

participants. Additionally, it will detail the methodology used to select the sample,

the tools used for data collection, the data analysis, and ethical considerations

related to the study.

Research Design

The upcoming research on the Financial Stress Level of Business Process

Outsourcing (BPO) agents will adopt a descriptive-comparative research design. As

defined by Saunders et al. (2012), descriptive research is a design in which

empirical findings are gained from numerical data. The descriptive design will be

employed to measure the financial stress level of the participants. Additionally, the
 22

comparative design will be utilized to compare the financial stress levels among the

participants based on their demographic profiles.

Research Locale

The Philippines attracted much interest as a Business Process Outsourcing (BPO)

location because of the availability of professionals with the necessary language

skills, cultural affinity with the U.S. (the primary BPO market), and a strong focus on

providing excellent customer service in its workforce. Furthermore, according to the

Department of Commerce and Industry, Commission on Information and

Communications Technology, and Business Processing Association of the

 23

Figure 2. Maps of the Philippines and Davao Region

Philippines, Davao City has maintained its position as the top destination in the

Philippines for outsourcing for 2012. With the production of taxes from employee

pay, the growth in new jobs over the previous three years has dramatically

strengthened Davao City's economy (Castro & Deluna, 2013).

The study will be conducted in a public organization that operates in

the field of Business Process Outsourcing (BPO), which has been selected as the

research site by the researchers.

Research Respondents

In this study, the researchers will be using purposive sampling. Thus, the call

center agents of Business Process Outsourcing (BPO)' in the Davao Area are the

study's target population, who have been serving the people for nearly five (5) years

from the three (3) new district office branches here in Davao city namely at SP
 24

Dacudao Loop, Agdao, and Davao Park District. Employees include regular and

contractual, serving the agency for over a year and categorized as managerial or

supervisory employees.

The agency comprises 2,300 employees, of which 63% are women. In

contrast, 37% are men and are from various demographics and backgrounds with

the same workloads and offices (e.g., the process of allocating, monitoring, and

reporting on inbound and outbound customer contacts and any peripheral work

done in support of those contacts.), and 3 New District Branches offices strategically

placed in different areas of the Davao Region. For this research, one hundred (100)

respondents will be surveyed.

Research Instrument

This study will utilize the adapted questionnaire from the APR Financial

Stress Scale: Development and validation of a Multidimensional Measurement,

published by (Heo et al., 2020). This study will give a localized view of financial

stress levels in the Philippine setting and call center companies. The survey

questionnaire comprises three indicators and sub-indicators, namely: Affective

Reactions (Depression, Anxiety, and Emotional Exhaustion),

Relational/Interpersonal Behavior (Work-related and Non-work Related), and

biophysiological Responses (Physiological Response and Sensory Response).

Each of these indicators will include between (two to five questions) that will

substantially measure the Financial Stress Level of Business Process Outsourcing

(BPO) in the Davao Region. Respondents will be asked to assess each item on a 5-

point Likert scale ranging from 5 Strongly Agree to 1 Strongly Disagree.

 25

The researchers will use the 5 Likert Scale matrix for the range of means as

follows:

Financial Stress

Mean Range Descriptive Interpretation

4.20 – 5.00 Very High The financial stress experience is very favorable.

3.40 – 4.19 High The financial stress experience is favorable.

2.60 – 3.39 Moderate The financial stress experience is fairly favorable.

1.80 – 2.59 Low The financial stress experience is less favorable.

1.00 – 1.79 Very Low The financial stress experience is not favorable at all

Data Collection

The beginning of this study's data collection depends on the researcher

receiving a certificate of compliance from the University of Immaculate Conception

Research Ethics Committee (UIC-REC). In addition, the researcher will send a

request letter to the College of Accounting and Business Education dean and will

only proceed with data collection after receiving the dean's approval.

The researchers will take precautions when collecting data from respondents

to ensure that the necessary information is obtained for the study. Sampling

techniques will be employed, and inclusion criteria will be established to recruit

study participants. The survey questionnaire will be printed as this is the most

efficient data collection method. Respondents will be expected to spend between 5

and 10 minutes completing the questionnaire.

Statistical Tool
 26

The data obtained will be measured using different statistical tools,

considering the following: Frequency Count will be used to measure the

occurrences of the respondent's answers in the demographic profile. The Mean

Score will establish the financial stress level of the Business Process Outsourcing

(BPO) agents. Additionally, Standard Deviation will measure the consistencies of

the responses on the data set relative to the resulting mean of the financial stress

level. Furthermore, the researchers will also use a T-test to determine the

difference in the demographic profile of the respondents to financial stress levels in

terms of sex. As with the other two demographic profiles, namely: age and income,

an Analysis on Variance (ANOVA) will also be used to discover the difference

between age and income of Business Process Outsourcing (BPO) agents to their

financial stress.

Ethical Considerations

To adhere to the proper ethical consideration in conducting the study, the

University of the Immaculate Conception's Research Ethics Committee (UIC-REC)

will evaluate the research. The research was subjected to the ten (10) dimensions

of research ethics: social value, informed consent, the vulnerability of research

participants, risk-benefit and safety, privacy and confidentiality of information,

justice, transparency, qualification of the researcher, adequacy of facilities, and

community involvement.

Social Value: This research study will help Business Process Outsourcing

(BPO) measure the financial stress level of its employees according to their
 27

demographic profile. This study will also help the employees' growth and morale,

satisfaction, and the improvement of financial stress indicators.

Informed Consent: The researchers will send a letter to the human resource

department to implement the study within their workplace. The researchers will then

encourage the participants to answer the survey voluntarily and not forcibly. The

survey will be printed, and the researchers will include an informed consent

statement on the survey questionnaire. Hence, the participants in this study will be

informed of the research objective, and they will have the option to accept or refuse

participation actively. The researchers ensure the well-being of the participants and

directly address their concerns and questions about the research.

Vulnerability of Research Participant. For the upcoming study, the

participation of Business Process Outsourcing (BPO) employees as respondents is

voluntary, and they are not compelled to participate. All participants must be of legal

age, can make their own decisions, will not be coerced to participate, and will be

treated with the utmost respect. Furthermore, the researchers will ensure that the

confidentiality of the participants' identities will be maintained.

Risk-Benefit and Safety. The researchers will acknowledge that the

research will be conducted solely for academic purposes. Throughout the survey,

the questionnaires will be distributed without discriminatory, degrading, or

discriminatory language that could hurt the feelings of both the respondents and the

institution. The researchers will take extra precautions to collect data carefully and
 28

maintain confidentiality. Furthermore, the safety of each respondent will be

guaranteed by the researchers.

Privacy and Confidentiality. The researchers will assure the respondents of

their confidential information from releasing it to the public. The names in the survey

questionnaire and other personal details are optional; therefore, the respondents

have the right to disclose personal information. Any information categorized as

confidential that will be gathered in conducting the study will be handled with utmost

confidentiality, considering the Data Privacy Act of 2012 (RA 10173).

Justice. The researchers will ensure honesty and justice to the respondents

and organizations involved in the study and consider the appropriate laws of

fairness and privacy.

Transparency. The researchers are accepting any suggestions and

recommendations given by the panel, the UIC research, and the ethics committee

for the betterment of the study. Upon conducting the research, the researchers will

synthesize the data and results. Transparency will be upheld to promote openness

and freedom of information by involving future respondents and organizations.

Qualification of Researchers. The researchers of this study are

undergraduates of Bachelor of Science in Business Administration at the University

of the Immaculate Conception. They are qualified to conduct the study with the help

and guidance of their Business Research Professor, Joseph Elmer G. Noval.

 29

Adequacy of Facilities. Researchers had access to various research,

technology, equipment, and other facilities needed to implement and complete this

research endeavor to comply with standards set by the Graduate School of the UIC,

which will help ensure the quality of the research output.

Community Involvement. The researchers plan to collaborate with unit

heads from different Business Process Outsourcing (BPO) offices in the Davao

Region, seeking approval to conduct the research. This collaboration will enable the

BPOs to integrate the results, findings, and recommendations into their future

programs, enhancing employee morale and satisfaction and alleviating financial

stress. Ultimately, the BPO programs will empower employees to better serve their

clients.
 30

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Survey Questionnaire

Dear Respondent,

The researchers would like to ask for your participation in this study entitled

“Financial Stress of the Selected Business Process Outsourcing (BPO) Agents: Basis

on Action Plan."

The following questionnaire is based on the APR Financial Stress Scale

developed by Heo, W., Cho, S., & Lee (2020). The scale was developed to measure
 38

financial stress among individuals and was validated through professional review and

exploratory surveys. The final questionnaire consists of 24 items selected to measure

comprehensive financial stress. All questions must be answered on a five-point scale,

with 1 being the lowest "Strongly Disagree" and five being the highest "Strongly Agree."

This questionnaire's objective is to assess an individual's financial stress level and

assist in finding areas for improvement and viable solutions. Please include as much

detail as possible for each question.

Part I. Demographic Profile

Instructions: Kindly put a mark (X) to the most appropriate answer. Please note further
that your responses will be held with strict confidentiality.

Name (Optional): ________________________________________________

Age :( ) 21 to 30 years old

( ) 31 to 40 years old
( ) 41 years old and above

Sex :( ) Male
( ) Female

Income Level : ( ) 10,000 – 20,000

( ) 20,001 – 30,000
( ) 30,001 – 40,000
( ) 40,001 – Above

Part II. Indicators

 39

Directions: Please indicate the level to which you agree/disagree with the following
statements by putting a mark (X) on the boxes below using the following
scale of 1 to 5.

Strongly Agree - 5
Agree - 4
Moderately Agree - 3
Disagree - 2
Strongly Disagree - 1

No. Parameters 5 4 3 2 1
1 Affective Reaction: Depression
a. I feel depressed because of my financial
situation.
b. I feel hopeless because of my financial
situation.
c. I feel sad because of my financial situation.
d. I feel low because of my financial situation.
e. I feel lonely because of my financial situation.
f. I feel worthless because of my financial
situation.
2 Affective Reaction: Anxiety
a. I feel nervous because of my financial
situation.
b. I feel anxious because of my financial
situation.
c. I worry a lot because of my financial situation.
d. I am easily irritated because of my financial
situation.
e. I am constantly worried about my financial
situation.
f. I feel tense because of my financial situation.
g. I feel nervous because of my financial
situation.
h. I feel anxious because of my financial
situation.
i. I worry a lot because of my financial situation.
3 Affective Reaction: Emotional Exhaustion
a. I am emotionally depleted due to my financial
circumstances.
b. I am dissatisfied with my financial status.
c. I feel burned out because of my financial
 40

situation.
d. I feel exhausted because of my financial
situation.
4 Relational/Interpersonal behavior: Work-related
a. My financial situation affects my job
performance.
b. I miss work events due to my financial
situation.
c. My financial situation affects my relationships
with co-workers.
d. My financial situation frequently interferes with
my relationship with co-workers/colleagues.
e. I work too much to improve financial situation.
f. Working too much causes problems with
family and friends.
Relational/Interpersonal Behavior: Non-work
5
related
a. I argue with my spouse/significant other about
money.
b. I find it difficult to talk about money with my
spouse/significant other.
c. My financial situation affects my family
relationships.
d. I frequently avoid attending family events
because of my financial situation.
e. My financial situation frequently interferes with
my family relationship.
f. I find myself avoiding interaction with friends
due to my financial situation.
Biophysiological Response: Physiological
6
response
a. I lose sleep because of my financial situation.
b. I eat too much food because of my financial
situation.
c. I have stomach aches because of my financial
situation.
d. My heartbeat increases because of my
financial situation.
e. I feel cold because of my financial situation.
f. I feel more sweat because of my financial
situation.
XIV. Biophysiological Response: Sensory
7
response
a. I feel fatigued frequently because of my
financial situation.
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b. Because of my financial circumstances, I am

sensitive to noise.
c. I find flaws/cracks/chips of general objects
more frequently than before because of my
financial situation.
d. My financial condition has made me irritable.

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