One third of UK workers (32%) have admitted to suffering mental health issues due to money worries, according to a new poll from GettaSub, the short-term employee finance provider.
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.
One in ten (13%) said they were planning to skip a day of work in the next month to avoid paying for train fares. Meanwhile 59% said that personal financial concerns were the biggest causes of stress and anxiety in the workplace. Additionally, 34% said money worries have kept them awake at night at least three times a week.
Nearly half (44%) 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%) 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 commented: “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.”