Around 62.5 per cent of UK workers are considering leaving their existing jobs if their employers fail to recognise or help them with their financial difficulties, according to research from Workhuman.
Workhuman’s UK Human Workplace Index (HWI) survey of 1,000 full-time employees across the UK found that 77 per cent of employees said their employer could be doing more to support them financially and emotionally through the current crisis.
According to the survey, the cost-of-living problem is causing stress and anxiety for 84 per cent of UK workers. Meanwhile, around 61.5 per cent of respondents reported struggling to pay at least one item in the last three months, with electricity bills, gas, and food topping the list of those they had the greatest difficulty affording.
Additionally, 50 per cent of respondents reported working overtime in the previous three months, and two-thirds said the cost-of-living crisis had a negative impact on their ability to maintain a healthy work-life balance. These statistics indicate that many employees are working overtime in an effort to make ends meet at the expense of their personal lives.
Employees have reported feeling burnt out and being less effective at work as a result of the longest workdays. In fact, 63 per cent of respondents stated their workload has increased, and nearly 50 per cent indicated they are worried about how the cost of living problem may affect their jobs. Furthermore, 41 per cent of respondents claimed that a recent layoff at their business had negatively impacted their wellness.
At the same time, 68 per cent of workers claimed their company isn’t providing any assistance with the cost-of-living crisis. Nearly half of those surveyed also stated that they are dissatisfied with the benefits their employer currently provides and that their firm does not offer an employee assistance programme or plan.
Workhuman senior director Dr Meisha-ann Martin says: “It’s alarming that such a large percentage of employees don’t feel like they are being supported in any way. Facing financial struggles is causing people significant stress and anxiety, which in turn will likely impact their work performance and morale.
“Organisations should consider what they can do to help their people to weather today’s financial challenges and maintain engagement and productivity in the workplace. Or those employees are likely to look elsewhere.”
“Between lay-offs and financial struggles, employees are working harder than ever, and they want that hard work to be appreciated and recognised. Financial assistance like vouchers and reimbursement for certain costs can help ease the stress and anxiety on their shoulders, and recognition for a job well done is key to building and maintaining engagement and morale at work. Combining the two will ensure employees feel appreciated and supported by an employer who genuinely cares about the wellbeing of their people.”
