Member Article

A third of employees have mental health problems caused by money worries

Research launched today by GettaSub, the short-term employee finance provider found that one third of UK workers (32 per cent) have admitted to suffering mental health issues due to money worries.

The survey, which quizzed 2,000 workers across the country about their financial well-being, sheds fresh light on the huge pressures facing employees in terms of soaring living costs, transport fares and heating bills.

The survey found that 59% said personal financial concerns were the biggest cause of stress in the workplace and one in 10 plans to skip a day of work in the next month to avoid paying train fares.

Nearly half (44 per cent) said they were not getting enough support from their employer for financial advice. When questioned about what support is currently offered to them, over a third (37 per cent) believed that their HR department does not provide the right standard of support for employees with financial problems.

The research found that a staggering 57% of employees believed employers should do more as an organisation to financially support workers.

Ann Marie Bell, director, GettaSub comments: “It’s clear that rising living costs and economic uncertainty is taking a heavy toll on workers and employers need to get a grip on this crisis. Sitting back and doing nothing is no longer an option - bosses must recognise that they have a duty of care beyond the traditional pay cycle, offering practical advice and options of financial support for those who need it most. It’s shocking that so many people in fulltime work find themselves cash-poor when so much can be done to ease the burden.”

This was posted in Bdaily's Members' News section by Nick Till .