Are Financial Worries Stressing Your Employees?

9-Feb-2017

New research has found that a significant number of people are distracted at work because of financial worries.

There are many reasons why people can become distracted at work, but new research has found that a significant number of people are distracted at work because of financial worries.

In fact, one in three workers said that they find it hard to concentrate in their jobs as a result, with this increasing to 54 per cent among the 18 to 30 age group, Business Matters Magazine reported.

The study highlighted rising living costs as one of the issues, as well as the fact that more people feel insecure in their jobs than they did a year ago.

Employee benefits director at MetLife UK Tom Gaynor told the publication that more employers should consider introducing financial wellbeing strategies for their staff, in addition to the physical wellbeing strategies that have become more prevalent in recent years.

“We know that less stressed employees are more productive and creative and the business case to improve employees’ financial wellness is more than just a simple act of benevolence,” he stated.

Mr Gaynor added that there is a “clear link” between staff who feel in control of their finances being engaged at work.

If you’re concerned about the impact financial worries could be having on your employees, consider asking questions about it in your exit survey, or setting up an anonymous survey for your staff to gauge the scale of the problem.

There are many other ways in which you can help boost staff productivity, with The Business Desk recently highlighting five options that you may not have considered.

Among them is providing your staff with a fruit bowl or a selection of healthy treats, offering them free or discounted gym membership or fitness classes to help keep them in good physical shape, and providing alternative therapies like acupuncture to help ease neck and back pain that’s commonly associated with desk jobs.