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

Senior Social Worker

London Borough of Richmond upon Thames and London Borough of Wandsworth
£46,206 - £55,992
Senior Social Worker
Recuriter: London Borough of Richmond upon Thames and London Borough of Wandsworth

Waste Operations Support Officers

Durham County Council
£29,071 - £32,046
Temporary until 1 June 2029   Refuse and Recycling are looking for 3 Waste Operations Support Officer to work in the South and East of County Durham. Peterlee
Recuriter: Durham County Council

Recovery Worker

Durham County Council
Grade 7 - £31,015 – £34,811 per annum.
Do you want to make a real difference to the lives of people experiencing hoarding and self-neglect behaviours?   As an Agile Recovery Worker within o Durham
Recuriter: Durham County Council

Finance Officer

Durham County Council
Grade 7, £30,024 - £33,699 per annum. Pay award pending.
We are seeking a Finance Officer to join DurhamLearn, where you will play a key role in supporting the financial administration, budget monitoring and Durham
Recuriter: Durham County Council

Social Work Consultant

Durham County Council
Grade 13 - £47,181 - £51,356 (Pay Award Pending)
Do you believe every child deserves to grow up feeling loved, safe, and supported, with a lasting sense of family, belonging, and stability?   Are you Durham
Recuriter: Durham County Council
Linkedin Banner