Almost three-fifths (57%) of employees believe organisations should do more to financially support their staff, according to research by workplace short-term finance provider GettaSub.
Its survey of 2,000 UK employees also found that 44% think they are not getting enough support from their employer for financial advice, while 37% believe their HR department does not provide the right standard of support for employees with financial problems.
A third (32%) of respondents admit to suffering mental health issues due to money worries, with 13% planning to skip a day of work within the next month, simply to avoid paying train fares.
Three-fifths (59%) of employees add that concerns around personal finance are the biggest cause of stress and anxiety in the workplace, while a further 34% admit that money worries keep them awake at night at least three times a week.
Ann Marie Bell, director at GettaSub, said: “It’s clear that rising living costs and economic uncertainty is taking a heavy toll on [employees], and employers need to get a grip on this crisis.
“Sitting back and doing nothing is no longer an option. Bosses must recognise that they have a duty of care beyond the traditional pay cycle, offering practical advice and options of financial support for those who need it most.
“It’s shocking that so many people in full-time work find themselves cash-poor when so much can be done to ease the burden.”
