Financial stress is far more common than many employers think. Nearly one in five people in the UK class their financial situation as the chief cause of stress in their life, and 9% say it’s negatively affecting their professional lives.
The mental effects of financial stress could be costing an employee as much as three days a month worth of work while they try to deal with their money worries. Prolonged stress eventually contributes to heart disease, depression, migraines, anxiety, ulcers and more. Affected staff damage their colleagues too, behaving combatively and lashing out at peers.
Between physical absences and decreased performance in the workplace the UK is losing at least 17.5 million working hours a year. Acting to manage this stress in a sustainable way is becoming an increasingly vital part of managing a healthy workplace.