William Eichler 18 October 2018

Four in 10 council employees report ‘financial worries’

Almost four in 10 central Government and county council employees have financial worries, a fact that affects their work performance and mental health.

The survey by Salary Finance saw 38% of people working in county councils and Government reporting financial worries, with 47% suffering stress, 25% feeling more prone to panic attacks, and 20% feeling depressed.

The survey of over 10,000 people working in 25 sectors also found that the respondents spent an average of 1.9 hours each week worrying about money.

Around 15% also stated their work quality was affected by financial worries, and 17% reported not finishing daily tasks as a result.

The research showed little correlation between rates of pay and levels of financial worry. 49% of those earning over £100,000 a year had money worries, compared with 40% of people overall.

‘This research shows that personal money worries are having a real impact on employee wellbeing and performance, as well as business productivity,’ said Asesh Sarkar, co-founder and CEO of Salary Finance.

Mr Sarkar said that higher levels of financial literacy and access to responsible finance had ‘the potential to improve the situation.’

‘Government and county council employers are in a unique position to provide support on both fronts, through financial education, salary-deducted savings and loans, to help employees increase their financial fitness and ultimately get their finances in shape,’ he said.

‘The added dividend for businesses comes in the form of a healthier and more productive workforce.’

SIGN UP
For your free daily news bulletin
Highways jobs

Technical Assistant - Brentwood & Rochford District Council

Essex County Council
Up to £23.0000 per hour
Technical Assistant - Brentwood & Rochford District Council Full-Time, Temporary 37 hours per week6 months contract £23.00 PAYE / £29.45 Umbrella per England, Essex
Recuriter: Essex County Council

Academy Business Manager

City Of Doncaster Council
Grade 8 £33,699, £39,152 per annum
As the Academy Business Manager, you will be a key member of the Senior Leadership Team (SLT) Doncaster, South Yorkshire
Recuriter: City Of Doncaster Council

EPIC Relief Support Worker (CDC)

City Of Doncaster Council
Grade 7, £14.58 - £16.02 per hour
Do you have a positive approach to work and enjoy the challenge of a busy role? Doncaster, South Yorkshire
Recuriter: City Of Doncaster Council

Social Care Coordinator

Sandwell Metropolitan Borough Council
Band F, SCP 26-31 (£37,280- £41,771 per annum)
A Fixed term opportunity has arisen for a Social Care Co-ordinator within Enquiry team for 12 months. Sandwell, West Midlands
Recuriter: Sandwell Metropolitan Borough Council

Social Care Coordinator

Sandwell Metropolitan Borough Council
Band F, SCP 26-31 (£37,280- £41,771 per annum)
A Fixed term opportunity has arisen for a Social Care Co-ordinator within Enquiry team for 12 months. Sandwell, West Midlands
Recuriter: Sandwell Metropolitan Borough Council
Linkedin Banner