BUPA: Employers should help staff with debt worries

Helping staff alleviate their debt problems could improve workplace productivity, claims BUPA.

The health organisation says that more employees are calling helplines about financial problems than trauma or substance abuse issues.

Tony Urwin, occupational psychologist and general manager of BUPA Psychological Services and BUPA Wellness, comments that stress is often a reason for calling in sick and that absence is currently costing UK businesses £13 billion a year.

He also suggests that people with less debt concerns are likely to be more efficient in the workplace.

“A person whose financial future is uncertain is highly likely to feel pressurised and unable to cope,” he explained.

Some employers offer low-interest loans that can be paid back through salary deductions, he claimed, whereas others introduce helplines and additional ways of giving financial advice.

According to research by Thomas Charles and YouGov, 8.2 million British adults are in serious debt and 2.1 million are struggling with repayments.

© Adfero Ltd

Leave a Reply

Your email address will not be published. Required fields are marked *