More than a third (34%) of employee respondents are distracted at work by financial concerns, according to research by MetLife UK.
Its UK Employee benefits trends study 2017, which surveyed 301 employees and 600 HR representatives and decision makers in the UK, also found that more than half (54%) of employee respondents aged 18-30 years old are distracted by financial worries at work.
The research also found:
- More than half (53%) of employee respondents are interested in receiving financial counselling.
- 42% of employee respondents are concerned about credit card debt.
- 57% of employee respondents are worried about the financial security of their family if the main wage earner is unable to work as a result of a disability or serious illness.
- 57% of employee respondents are concerned about the financial security of their family in the event of their premature death.
- 41% of employee respondents are worried about the affordability of their children’s education.
- More than a third (39%) of employee respondents report that they are living from payday to payday.
- 35% of employer respondents offer workplace wellness schemes.
- 87% of employee respondents agree that wellness programmes have a positive impact on their health.
Tom Gaynor (pictured), employee benefits director at MetLife UK, said: “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.
“Done right, it’s an opportunity to help employees become more focused at work and more engaged with their employers. There is a clear link between employees feeling in control of their finances and engaged at work, which is a real opportunity to demonstrate the power of benefits in driving productivity.”