Marvin OnumonuData from WEALTH at work found financial stress is affecting performance, with 36% of employees saying money worries caused more stress at work and 34% reporting mental exhaustion.
Nearly a quarter (23%) reported lower motivation, one in five (20%) said they lost focus, and 8% linked financial stress to more sick days.
30% said they don’t look for support anywhere, 29% turn to friends or family, only 10% speak to a financial adviser, and just 2% approach their employer.
45% said they felt unsupported by their employer when it comes to understanding their finances, up from 39% last year.
Jonathan Watts-Lay, director at WEALTH at work, said: “An increasing number of employers are now turning to specialist workplace financial wellbeing service providers to help individuals build their financial knowledge and improve their financial wellbeing throughout their career.
“Taking an active approach and supporting employees by providing financial education and guidance through financial coaches, can in turn lead to a more financially resilient workforce, which is a win-win for all.”
