Financial woes | Why don't employees talk about their money worries?

It’s safe to say that presently, financial wellbeing has never been a more essential element in HR’s remit. Brits are currently feeling the pinch of a so-called cost-of-living crisis, which has been fuelled by rocketing bills, increases in taxes and rises in the costs of everyday necessities.

This new threat to wellbeing is compounded by the pre-existing financial volatility brought about by an unprecedented two years of shifting coronavirus pandemic legislation impacting where, how and if people can work.

In short, workers are likely struggling. But are they talking about it? New research recently released by Wagestream found that historic taboos around discussing finances at work are still very much alive and well within the workplace.

Looking for more

Money worries | Financial wellbeing offerings NEED to improve as half of workers 'worry about money'

In fact, money is the biggest worry for the workforce overall in 2022. A massive 24% of those polled in Wagestream’s ‘State of Financial Wellbeing 2022’ report worry about money every day – up a drastic eight per cent year on year. Yet, due to the silence around financial worries at work, the perception among employers is that just two per cent of their workers feel this way – a 22% underestimate.