Retail workers face money challenges at alarming rate
Posted on in Business News
The report, published to coincide with Mental Health Awareness Week, found that 43% of surveyed employees in the retail sector had felt stressed or had experienced poor mental health within six months, with 27% saying this happens very often or all the time.
Almost a quarter have endured burnout – a state of mental and physical exhaustion caused by work-related stress.
As a result of the cost-of-living crisis and money-related stress, 57% of retail workers say they are less productive, with 16% taking more sick days and almost 23% are looking for a higher-paid job at work.
Of the retail workers surveyed, 73% feel negatively about their finances. Yet just 15% are offered financial wellbeing benefits by their employer, compared to 36% of employees in accounting, banking and finance.
This is despite 75% of staff wanting more support with their personal finances.
Of those surveyed, 36% say they would welcome one-to-one financial coaching provided at work and 37% would be open to using self-learning resources created by experts.
Claro Wellbeing head of employee wellbeing Stacey Lowman commented:
“Supporting staff financial wellbeing is just as important as supporting their mental and physical health – in fact, all three are linked.”
Last month, a poll revealed a rising abuse and violence committed against shopworkers in the UK, with 36% of customers witnessing retail workers being abused.