According to a new report, financial fragility is causing UK workers significant stress and hindering performance.
According to a new report, financial fragility is causing UK workers significant stress and hindering performance.
The Social Market Foundation, which produced the report in partnership with the employee benefits company Neyber, says that the UK is at least 25% less productive than the major economies it competes with. Money worries are a part of the problem, but these are things that employers can help workers manage.
Relax, it’s not about paying people more. According to the report, financial worries aren’t necessarily related to income; wellbeing is affected far more by how comfortable and secure people feel financially. It says that employers can help staff learn about healthy financial behaviours and about building financial resistance.
The report makes for interesting reading. And, with nearly a quarter of workers whose feedback was used in the study revealing that they’re “just about managing” financially, it’s something that should be on the radar of all employers.
