Financial Stress is Draining UK Productivity With Four in Five Workers Taking Time Off Work Due to Finance Concerns, According to New Stream Data

Financial stress has become a persistent and visible problem in UK workplaces, with new research commissioned by Stream, the workplace finance provider, revealing that concerns about money are directly undermining employee performance, productivity and wellbeing.

Nearly two thirds of UK employees (64%) say they worry about their rent or mortgage payments on a monthly basis, with two in five (17%) worrying about this every single day. The impact is felt particularly strongly among younger workers: 20% of those under 35 worry daily about their basic living costs.

The knock-on effects on productivity and attendance in the workplace are significant. In the past year alone, a staggering 83% of UK workers say they have taken at least 1 day off work due to stress, anxiety or illness linked to personal finance concerns. 61% of UK workers report taking four or more days off work as a result of financial stress, with more than one in ten (12%) taking between 11 and 20 days off.

When at work, this stress is persistent. Three in five  workers (59%) say financial stress impacts their energy and enthusiasm for their job, while employees in the UK spend 2.24 hours each month handling their personal finances during work hours.

Despite the scale of the issue, financial stress remains largely hidden. While 39% admit financial stress impacts their productivity at work, 43% of workers say they would only disclose money-related stress to their employer if it forced them to call in sick.

Peter Briffett, co-founder and CEO of Stream, said: “The UK is a nation under severe financial stress, with households facing increasing pressure to make their money work harder. But the impact of this doesn’t just live at home. It’s astonishing to see that money worries are causing people to take time off work or spend millions of hours a month worrying about their personal finances while at work. The impact of an absent workforce on productivity is impossible to ignore and is now having national economic ramifications.”

Better financial control directly influences better performance at work 

UK workers value practical tools to help them manage their finances better. Nearly half (49%) want better budgeting tools, 38% value more predictable income and 37% want the option to save directly from their pay. These tools rank higher than traditional financial education (26%) or speaking to a financial adviser (19%).

The research shows that when people feel more in control of their finances, the benefits are tangible. Over a third (34%) report being more focused at work, less stressed (37%) and having better mental health (37%). Nearly four in ten (38%) say improved financial control helps them make better physical-health decisions.

For employers, the opportunities are significant. Almost half of workers (47%) would consider leaving their current job for a role that offers better financial benefits, while 44% say having a single real-time view of their finances would make them feel more in control of their money.

Briffett added: “When people feel more positive about their money, they’re more focused, more engaged and able to perform better at work. Employers have a critical role to play in reducing financial stress, by launching workplace finance tools to help track earnings, save and plan for their futures. Supporting financial wellbeing isn’t just good for employees, it directly affects productivity, engagement and retention in UK workplaces.

As financial pressures increase, workers are clear that they want easier and more transparent access to tools to help them better manage their finances. Employers that offer workplace finance tools will stand to gain not only in fostering a happier workforce, but in productivity, engagement and talent retention.