intelligence PROFESSIONAL EXPERTISE Money worries affect health


Employees in Bristol are taking more sick days due money worries, according to a financial trainer. Jo Thresher (pictured), of Better With Money, has called for better


education around money in the workplace – to improve efficiency, profitability and happiness. Jo, who has worked for multi-million pound corporations, said: “If an


employer can give financial guidance then they can help reduce stress. “This is a win-win situation as it reduces absence, improves profitability


and leads to happier, healthier employees.” Nearly 10 million working days are lost through stress in the workplace


in the UK. Of those days, nearly half are due to financial stress. And Bristol has seen the biggest rise in the numbers of people seeking


help for debt in the UK over the last quarter, according to data compiled by debt support organisation Creditfix. The latest UK Personal Debt Index (PDI) found the percentage of people


who own their own home fell to 8.5% of survey respondents, compared to the previous quarter when it stood at 10.5%. The cost of rent is a big worry for Bristolians – which is on average half


their wage, a study by the University of Bristol found. Jo, who has worked in finance for nearly 30 years, said: “People in


Bristol are spending so much on rent it can start to impact on their work life. Financial education in the workplace needs to become the norm. “If employers can help their employees better manage personal finances, it can improve their mental and physical health. It is a long-term


solution, which can make a real positive difference in a business.” A survey carried out by ‘The Actuary’, a body that measures risk in


business, found that 79% of British people want financial education in the workplace – but 40% said they receive little or no financial help from their employers. Jo said employers could easily help their staff by making use of their


Employee Assistance Plans or providing education around Government initiatives such as Help to Buy, Lifetime ISA’s and Childcare vouchers.


FINANCE


30 insight JULY/AUGUST 2017


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