Soaring energy bills, inflation hitting its highest level in 40 years, and looming recession are taking a toll on people’s mental health. Champion Health’s ‘Cost of Living Crisis. Financial Stress and Employee Wellbeing’ report has revealed that 71% percent of employees are currently experiencing moderate to high level levels of stress with financial pressure being the most common cause of stress outside of work. Moreover, people experiencing financial stress are twice as likely to experience thoughts of suicide or self-harm. Therefore, it is important to recognise the symptoms of stress amongst employees and provide appropriate help, signposting and resources to employees.
Isabella Goldie from Mental Health Foundation says: "Millions of us around the UK are experiencing high levels of stress and it is damaging our health. Stress is one of the great public health challenges of our time"
Stress is a significant problem for many employers, as it can lead to various issues such as increased absenteeism and presenteeism, indecisiveness and poor judgement, decrease in work standards and productivity, loss of motivation, as well as arguments and disputes with colleagues.
We have prepared a list of helpful resources including a FREE 'Managing your money & mental health during the cost of living crisis' webinar. You can also find out how we could support your employees in this difficult time. Head to our website for more information.
