Stress over money quietly and invisibly chips away at the productivity and engagement of employees. Problems with financial wellbeing cost the economy dearly every year in hours and days lost to stressing about money.
The scale of the problem in the UK is under-reported and shocking:
NEARLY TWO THIRDS OF EMPLOYEES HAVE BORROWED IN THE PAST YEAR JUST TO COVER THEIR LIVING COSTS, 37% USE CREDIT CARDS AND 8% USE PAYDAY LOANS.
Asking employers to simply pay more isn’t the silver bullet either, as among people earning £40,000 – £60,000 a year the rate of financial stress was still as high as one in five, and of employees suffering financial stress a whopping third actually don’t think they need any more money.