Nearly half (46%) of workers across the UK have sought financial well-being support and advice in the last two months, according to analysis of August and September user data for the Wellbeing Centre of the rewards and benefits mobile app Engage.
In a world where the lines between work and personal life blur, it's no surprise that financial stress spills into the workplace. The analysis revealed a significant uptick of 29% in users seeking resources and support for managing finances and debts in August and September, emphasizing a growing need for attention to this crucial aspect of employee well-being.
Customer Experience Manager, Claire Lidgbird, sheds light on the profound impact of financial worries on mental health: "Worry and stress over personal finances have a detrimental effect on mental health and well-being."
Recent CIPD research supports this, revealing that well over half (59 percent) of people in the UK acknowledge the negative impact of the cost of living or a change in personal finances on their mental health in the past year.
So, what's the solution? It's time for employers to recognize the importance of providing financial well-being support in the workplace. These tools go beyond traditional benefits, offering practical resources and support that empower employees to navigate their financial landscape confidently.
As we witness a surge in employees seeking financial guidance, the message is clear—investing in financial well-being isn't just a perk; it's a strategic move to foster a healthier, more engaged workforce. Let's bridge the gap between work and financial peace, ensuring our employees thrive both professionally and personally.
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