More than two-thirds (67%) of respondents believe that their employer does not care about their financial wellness, according to research by Neyber.
Its DNA of financial wellbeing report, which surveyed 10,000 UK employees, also found that more than half (55%) of respondents feel that financial pressure affects their behaviour and ability to perform at work.
The research also found:
- 70% of respondents admit to wasting a fifth of their time at work worrying about finances.
- Just 3% of respondents would turn to their manager or HR department if they have financial concerns.
- Around half (51%) of respondents confess that financial pressure affects their relationship with colleagues.
- 46% of respondents believe that financial pressure affects their relationship with their line manager.
- 55% of respondents have savings goals but only a third (33%) are actively saving towards that goal.
- Three-quarters (75%) of respondents aged 18-34 have savings targets, and 28% are actively saving.
Heidi Allan (pictured), head of insights and engagement at Neyber, said: “More and more workers are looking to their employer for help with financial matters and this will only increase as more millennials enter the workforce; it’s not a problem that is going to go away.
“Employers and policy makers must act to address the growing financial wellbeing crisis. Financial education, awareness and understanding are key to making smart, well informed financial decisions.”