Anxiety about money is a key influencer of workplace wellbeing. Financial concerns affect employees’ mental and physical health and stress caused by worrying about making ends meet affect workplace performance.
Employers have a very clear duty to ensure that they pay workers properly. Good employers will reward workers and put in place employee benefits. But employers also have a responsibility to support workers who experience personal financial problems. Money may make the world go round, worrying about it can do long-term damage to employee wellbeing. Every business needs to understand the potential impact that positive or negative financial wellbeing has on their workforce.