Less than a quarter (23%) of City worker respondents feel able to discuss the stress they are under with their managers, according to research by MetLife Employee Benefits.
Its survey of 104 decision makers who work in financial institutions or investment banks, also found that 67% of respondents are considering quitting their jobs in the next year if their stress levels do not improve.
The research also found:
- 65% of respondents feel able to discuss the stress they under with colleagues.
- 40% of respondents believe that their job is extremely stressful.
- More than a third (37%) of respondents struggle to switch off at weekends.
- 95% of respondents believe they are expected to always be available to work, with weekends seen as a continuation of the working week.
- 81% of respondents say new employees are given information on the pressures involved with the job and the resilience that is needed for the role.
- Less than a fifth (14%) of respondents state that their boss has taken action when they have complained about pressure at work.
- 50% of respondents claim that weekends have been disturbed by work at least 25 times in the past year.
Tom Gaynor (pictured), employee benefits director at MetLife UK, said: “Investment bankers often pride themselves on working long hours but there needs to be a balance and managers need to recognise the impact on individuals.
“What should never be acceptable under any circumstances is the fear of admitting to stress or mental health issues simply because of perceived career damage.
“If the management style of these organisations is demanding, they should provide provisions to tackle mental health issues and should encourage staff to admit when there is a problem. By doing so, not only will they show a duty of care to their staff, their bottom line will also more than likely improve thanks to a committed and supportive workforce.”