Most UK workers' mental health harmed by money issues: survey

[LONDON] Financial concerns are negatively affecting the mental health of UK workers, with younger people bearing the brunt of job insecurity and low wages, according to a survey commissioned by non-profit group Business in the Community in partnership with human resources company Mercer.

A quarter of British employees are struggling to make ends meet while less than half are satisfied with their current financial situation, the survey showed. Ninety per cent of young people said their mental health is being affected by the cost of living.

Market-research firm YouGov conducted the survey of more than 4,600 UK full and part-time workers between May and July. Three-fifths of respondents said they experienced symptoms including loss of sleep, stress, lack of concentration and fatigue due to financial concerns. More than half said they are reluctant to talk about money issues at work.

"There is huge financial pressure on employees, with stagnant wages and living costs which continue to rise," said Louise Aston, Business in the Community's wellbeing director, said in a statement.

"Employers have an important role in educating employees in financial literacy and signposting them to appropriate sources of professional support."

The group urged organisations to do more to support conversations between workers and managers about well-being issues, including those related to finances.

BLOOMBERG