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

Key Worker - Young Carers

Essex County Council
Up to £28621.00 per annum
Key Worker - Young CarersPermanent, Full Time£28,621 per annumLocation
Recuriter: Essex County Council

Head of Service - Highways and Transportation

North East Lincolnshire Council
£77,899
We are seeking an exceptional leader to take on the role of Head of Service – Highways & Transportation North East Lincolnshire
Recuriter: North East Lincolnshire Council

Director of Education

Birmingham City Council
£135,398 to £175,519 (3 days per week on site)
Leading Collaboration. Strengthening Trust. Improving Outcomes Birmingham, West Midlands
Recuriter: Birmingham City Council

Executive Director of Prosperity and Place

East Riding of Yorkshire Council
£148,775 - £159,480
We are seeking an exceptional Executive Director of Prosperity and Place East Riding of Yorkshire
Recuriter: East Riding of Yorkshire Council

Social Worker

Durham County Council
Grade 9 £35,412 - £39,152(Pre-Progression) / Grade 11 £40,777 - £45,091(Post-Progression)
This is an exciting opportunity to join the Next Steps Team in Durham, a developing and ambitious service that prepares young people in care for indep Durham
Recuriter: Durham County Council
Linkedin Banner