According to the latest research, two-thirds of employees do not feel comfortable talking about their finances at work, despite more than a fifth of people struggling to make ends meet.<\/p>\n
The research published by Business in the Community as part of its 2019 Mental Health at Work report states that only 5 per cent of workers believe there is financial support available in their workplace.<\/p>\n
More than a quarter of employees (26 per cent) aged 18-29 felt unable to cope financially, the most of any age bracket, and more women (23 per cent) were stressed about their finances than men (19 per cent).<\/p>\n
It was also revealed that over a third of workers said they would spend more money if they felt down, particularly younger workers (18 to 29), of whom 44 per cent felt this to be the case.<\/p>\n
Alongside the findings of the survey, Business in the Community has produced a toolkit for employers in a bid to help them offer better support to employees struggling with finances.<\/p>\n
Their recommendations include engaging senior leaders to understand the experiences of people who may be struggling, identifying the needs of low earners and promoting a culture change so employees feel more comfortable talking about money.<\/p>\n
Separate research from Salary Finance found that around 10 per cent of total salary costs are lost through a lack of productivity due to financial concerns.<\/p>\n
Nicola Inge, Employment Campaign Director at Business in the Community, said: \u201cEmployers need to create the kind of environment that breaks down the barriers around people talking about money to help all their employees.<\/p>\n
\u201cWe need more employers to take a different approach to their employee benefits packages to make sure that they are meeting the needs of their whole workforce and getting the most value from the benefits they offer.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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