31% feel their employer is more interested in their physical than financial health

Around a third (31%) of respondents believe their employer takes a greater interest in their physical health than their financial health, according to research by Wealth Wizards.

Its survey of 2,000 individuals also found that 70% of respondents feel that their physical and emotional wellbeing is negatively impacted when they are in poor financial health.

The research also found:

  • 62% of respondents are worried about not having enough money when they retire.
  • 36% of respondents think their current financial situation causes them more stress than their physical health, and 34% believe this will continue into retirement.
  • 58% of respondents believe their financial health is just as important as their physical health, and a further 10% believe their financial health is more important than their physical health.

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Phil Blows (pictured), director at Wealth Wizards, said: “It is important that employers acknowledge the connection between the physical wellbeing of their employees and financial stress. Processes need to be put in place to help them avoid falling into financial difficulty.

“While it’s great that many employers build in benefits and measures to make sure that their employees are healthy, it is also important that they acknowledge the evolving spectrum of wellbeing that affects their employees. They can do this by putting basic safeguards in place like giving access to financial advice and a well thought out pension scheme, in addition to more traditional employee benefits.”