Being stressed about money makes you less productive at work, study finds

Financial wellbeing is closely linked to employee productivity.

Turns out being stressed about money and motivation to work are closely linked, and not in the way you would assume. YuLife and YouGov conducted a recent study where they found 80 per cent of workers believed being stressed about money had a negative impact on their work productivity.

Metro reported the study's findings, which stated 66 per cent of those same employees would find it uncomfortable to tell their boss about their financial stress.

And as living costs continue to rise, financial woes aren't easing anytime soon. In fact, 57 per cent of employees are expecting their financial worries to continue, with the group of surveyed employees admitting they feel it's a workplace's duty to help improve the general sense of financial wellbeing in ways other than benefits and pension contributions.

Young workers – aged under 34 - felt this more passionately, with 69 per cent of those surveyed saying workplaces are not doing enough to nurture their employees' financial wellbeing.

The study also found those who can comfortably meet their financial commitments are more focused and less distracted at work.

As financial security naturally affects our general wellbeing, Metro noted there could be a knock-on impact somewhere else. On average, 80 per cent of adults are worried about money - and if you have children, that rises to 88 per cent.

CEO of YuLife Sammy Rubin responded to the survey, noting a "clear link" between financial wellbeing and productivity, which brings "to light the need for essential assistance to look after financial stress."

Rubin continued, "The almost-universal nature of money worries means that employers have a responsibility to support their employees' financial wellbeing with additional benefits and insurance products as well as creating help and awareness to suit their financial needs.

"Employees increasingly believe that workplaces are responsible for improving financial wellbeing – it's no longer considered a nice-to-have but an integral part of creating a healthy workspace."

This article was first published in NZ Herald and is republished here with permission.