We conducted research across 100 employers and 2000 UK employees to discover how financially healthy the workforce is today. Our findings were eye-opening.

View a text version of our infographic.

Financial Well-being Infographic

Employees’ financial health is good for business wealth

The problem

Many employees face financial worries that their employers are unaware of. These can affect their happiness, health and productivity.

  • Nearly half (46%) of employees worry about their finances.
  • 20% avoid thinking about finances because they find it upsetting.
  • 18% lose sleep worrying about their finances.
  • 2 in 5 employees have only up to one month’s savings to tide them over if they lost their job tomorrow.
  • Only 35% feel optimistic about their financial future.
  • Only 31% feel on track financially for retirement.

The disconnect between employer and employee

  • Communication of benefits package: 63% of employers think they do this well, compared to only 20% of employees.
  • Benefits package: 72% of employers think they provide a good package, compared to only 23% of employees
  • Managing personal finances at work: Only 205 of employers think this is unacceptable, compared to nearly half of employees.
  • Company concern over financial well-being: Less than 1 in 10 employees believe their company cares, compared to 7 in 10 employers who think their employees feel positive about them caring.

The effect on your business

Poor financial well-being impacts on your workforce and your bottom line.

  • 11% of your workforce are ‘slipping’ meaning they are finding it hard to make ends meet.
  • Lost productivity impacts the bottom line by 4% as a result of employees worrying about their finances.
  • 5% of employees have been absent from work an average of 4.2 days a year due to illness caused by financial worries.

How Barclays can help

We offer practical solutions that meet the needs of your employees. And we can help you develop your financial well-being strategy to build a business case and identify your employees needs.

  • Increased spending power
  • Capacity to manage finances
  • Employee understanding of reward package
  • Financial capability
  • Reward package content
  • Assistance for slipping employees

Barclays Corporate & Employer Solutions – Providing consulting, insights and solutions for your business.

Source: Financial Well-being: The Last Taboo in the Workplace? Why organisations cannot afford to ignore the financial health of their employees. Barclays report 2014.

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