The concept of ‘financial wellbeing’ or ‘financial wellness’ in the workplace has established itself as a recognised term and, for many, a priority on the executive agenda.
In the past, it had been difficult to know the specific cost to a business of poor financial wellbeing of its employees, and hot to quantify the impact of any actions that were implemented.
Over 10,000 UK employees across 25 sectors were surveyed in an attempt to address these issues and to better understand how personal money matters affect people’s day-to-day lives and their performance at work. The guide analyses the deep and varied impact of personal money worries and the cost to employers caused by a workforce suffering from low financial wellbeing.
The report discusses:
-
How financial worries affect stress and mental health
-
The impact this has on people’s performance at work
-
The impact of financial wellbeing on attrition, and the hard cost for employers
-
The financial wellbeing benefits employees would most like from their employers
-
The relationship between financial wellbeing and salary
Some key findings:
-
40% of employees have money worries
-
Those with financial worries are 8.8 times more likely to have sleepless nights
-
Those with financial worries are 4.9 times more likely to be depressed
Download the full report to find out more.
