Three quarters of workers have reduced spending on routine healthcare including appointments with the optician, dentist or physiotherapist, according to a report from Health Shield.
Half (48%) of the 2,000 employees surveyed for the Britain at Work report also said the current cost-of-living had impacted their ability to do their job, rising to 71% among 18–27-year-olds.
A third of 33% employees had cancelled check ups such as dental appointments to help with managing living expenses, rising to 36% for women.
Meanwhile 72% were worried about the cost of living weekly or more frequently, and 29% about money every single day.
Furthermore, a third (34%) had even skipped meals to help keep costs down, with women more likely to say this (36%) than men (31%).
Affecting ability to work
Paul Shires, director at Health Shield said: “The cost-of-living crisis is now having a clear impact on people’s ability to work, with many employees feeling financial pressure is affecting their focus, productivity and overall wellbeing day to day.
“It is particularly concerning to see the scale of the impact on younger workers, who are often more financially vulnerable.
“We are seeing people cut back on routine healthcare, skip meals or delay seeking support because they simply cannot afford the extra cost. When employees put off dental appointments, physiotherapy or optical care, smaller health concerns can quickly become more serious and harder to manage later on.
“Employers have an opportunity to support staff through practical health benefits that help people access affordable care while easing some of the wider financial pressure many workers are facing.”
Link between financial wellbeing and workforce health
Perry Timms, founder and chief energy officer of PTHR, said: “These findings highlight how closely financial wellbeing and workforce health are now connected.
“Employees are not only dealing with pressure at work, but also making difficult decisions at home about food, healthcare and other essentials. That inevitably has an impact on concentration, energy levels and overall wellbeing.
“What stands out is that many employees appear to be coping on the surface, while absorbing a significant level of financial and emotional strain underneath.
“Organisations that recognise this wider picture and take steps to support employees more holistically will be better placed to maintain engagement, morale and long-term workforce stability.”
Emily Jones, head of workplace wellbeing at Broadstone Financial Solutions, added: “The Britain at work report highlights a growing trend of workers delaying or skipping check-ups due to cost pressures.
“Brokers who position themselves as consultative partners, rather than transactional intermediaries, will be best placed to deepen client relationships.
“By aligning benefits strategies with the lived realities of employees with long NHS waits, rising anxiety, financial strain, and widening generational inequalities, brokers can help clients design support that is not only relevant and future-proof, but fundamentally preventative.”
