Financial wellbeing – a real insight.
We recently conducted our own unique research into workers’ dependence on high-cost credit options. The study exposed amongst many things, that those in steady employment are struggling to balance their incomings and outgoings, which paints a worrying picture.
Some of the highlights were:
- Of the 1,000+ workers interviewed, financial stress impacts their sleep (38%), social life (29%), relationships (29%) and importantly their health (23%)
- Nearly three-quarters of 18 to 34-year-olds have experienced mental health or well-being issues linked to money
- 52% of managers see value in providing employees with an on-demand payment app
- 32% of people have not been able to make it into work as a result of not having enough funds to pay for their commute due to an unexpected cost
- Financial stress has impacted 21% of the workforce – this rises to 30% for people in higher level roles
- 25% of workers state that they have suffered from a lack of concentration at work due to their finances
- 54% of earners say frequency of pay has an impact on their lifestyle choices
To read the full details on financial wellbeing in the workplace please click below.