Money worries are causing anxiety and negative relationships in the workplace, study finds

Money worries can lead to mental health issues and feeling of isolation in a workplace.
Money worries can lead to mental health issues and feeling of isolation in a workplace.

A new study has today revealed the problems money worries create in a workplace to coincide with Stress Awareness Day.

The annual study, conducted by Salary Finance, found those suffering with financial worries are eight times more likely to have negative relationships with colleagues.

A study took place to find how the issue can affect a person’s well being and how it can affect the workplace.

Asesh Sarkar, CEO and cofounder of Salary Finance, said: “Stress about money is a growing problem, and one that affects us not only at home, but when we go to work as well. It’s keeping us up at night, affecting our mental health and reducing our concentration at work."

The survey shows that sleepless nights, anxiety, difficulty completing tasks at work and negative impact on work relationships are issues that have increased in workplaces due to money worries.

Asesh said: “It is no wonder that all this is having a real impact on our workplace performance. On average, UK employees take one sick day every year to deal with financial issues, which can quickly add up in costs to organisations.”

National Stress day aims to identify and reduce stress factors in your life.

Asesh said: “Employers in the UK need to tackle the problem of poor financial wellbeing, because it’s leaving their employees stressed, depressed and unable to perform at their best in the workplace. It’s not necessarily about paying people more.

"Education and free employee benefits are important areas where employers can make a real difference.

“Providing creative solutions such as more frequent access to pay, salary-linked savings schemes and low-interest loans, can all be offered without costing organisations a penny, leading to a boost in financial wellbeing, less stress and more productivity.”

Salary Finance are a financial well being employee benefits provider, for more information visit www.salaryfinance.com/uk/