Employees are spending over 14 hours a month on non-work related activities, claims AXA.

Research shows that people are spending 40 minutes of their day at work text messaging, shopping online, visiting social network sites such as Facebook and contacting friends or family.

Gossiping was the most popular non-work activity to take part in with employees dedicating nearly 59 minutes a week to it.

AXA is launching My Budget Day in November, encouraging employers to give their workers an hour a month to sort out their finances.

Pat Brady, from AXA said : "With employees already spending some time on non-work related activities, giving them official time to take part needn't result in a hit on productivity."

AXA research shows that one in three people do not spend any time sorting out their finances and that the average person only dedicates 22 minutes per month to personal banking.

Research by MORE TH>N BUSINESS in 2006 revealed that office gossip and banter is costing UK businesses £43 billion every year.

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