A new study titled ‘Working Well’ from the Social Market Foundation think-tank conducted in partnership with financial employee benefits provider Neyber, finds that one in eight workers (13%) report that money worries have affected their ability to concentrate at work.
• Four in 10 workers (40%) say money worries have made them feel stressed over the last year
• More than a quarter (27%) of workers are at the tipping point financially
• A quarter (25%) say they have lost sleep over money worries
• Nearly 50% of workers (48%) are not putting any money aside for anything more than regular bills.
The report’s author, Katie Evans, SMF Economist, says: “The UK’s workforce lacks financial resilience. It’s clearly affecting our ability to concentrate at work and blunting our productivity.
“This low financial resilience is a problem across industries – and it’s getting worse. The proportion of workers reporting that they face financial difficulties nearly doubled over the decade to 2013/14.
“These money worries have a clear impact on how people feel and behave as they go about their day-to-day lives and jobs.”