Is financial fear impacting your productivity?

Researchers have found a link between financial fears and low energy, and this could be impacting your productivity at work

CREDIT: This is an edited version of an article that originally appeared on Happiful

Financial worries can affect each of us in a number of different ways, most commonly stirring up feelings of stress, anxiety and depression; a study from Censuswide and Unum has highlighted the way that it might be affecting us at work.

According to the research, 29% of UK workers said financial worries from the cost-of-living crisis had negatively impacted their productivity at work this year. A further 40% said that their worries about financial pressure leave them feeling physically tired, and 32% said that the pressure keeps them up at night.

Money worries can also lead to feelings of isolation. Generally, we don’t find it easy to talk to others about our concerns, even those who are close to us. We can feel pressure to put on a front and continue to turn up to pricey social events when we don’t have the spare cash to do so. 

The situation can feel quite hopeless but Mark Till, CEO of Unum UK, believes that workplaces should be stepping in to help employees. “Our research captures some major red flags in the lack of support from businesses and the resulting impact on productivity, as well as physical and mental health,” he says. “With only 15% of workers expecting their productivity to improve in 2023, employers need to be aware of the long-term implications of not helping employees during the current difficult economic climate.

“High-quality employee benefits and support services are essential, but employees can’t utilise these unless they’re aware of them. Communication, and embedding these benefits, are critical, as well as enabling a culture where employees feel they can speak freely about concerns and understand where to go to access early intervention support.”

A solution for financial worries often feels out of reach – if the problem is lack of money, most of us don’t have the ability to conjure up some more – but when it comes to managing the feelings caused by the worries, you do have more options. 

Reach out for mental health support using an employee assistance programme or charities, and try – as hard as it might be – to be honest about your feelings with your loved ones. You never know, they could be going through exactly the same thing, just waiting for the right moment to share, and lessen the load for both of you.