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Money problems prevent a tenth of employees from coming to work

Financial anxiety is taking its toll on the British workforce as almost one in 10 adults admits worrying about money has caused them to take a sick day, according to YouGov and Money in Mind.

The survey of more than 2,000 adults published yesterday found 5% have been absent more than once because of money problems.

Just 18% of adults in Great Britain are 'very confident' they have the knowledge required to create and maintain a sound financial plan for themselves and their dependants.

Financial pressures appear to be felt most strongly by larger families. Almost one in five (19%) of adults with three or more children in the household, has been absent from work over money worries.

Confidence in the ability to manage finances also falls; almost half (44%) said they are not confident they can create and maintain a sound financial plan for themselves and their dependents. Only 9% said they felt very confident they could do it.

The Welsh are the most self-assured of their financial abilities; a quarter said they felt very confident in their financial abilities, compared to just 12% of Scots.

Overall, almost a third of survey respondents who have ever worked (29%) said access to money management guidance from their employer would help them to feel more effective and more engaged at work. This figure increases to 41% for individuals aged 25 to 34.

Martin Osborne-Shaw, director of Money in Mind and MD of Killik Employee Services, said: "Employers now have a clear interest in helping staff to understand how to make the most of what they've got. Any reasonable employer knows that an anxious, tired and distracted workforce is unlikely to perform at its best."

"Employees are currently telling organisations that they both need and want help with managing their money in a world where inflation-busting pay rises, regular promotions and fixed retirement ages are a thing of the past."

According to additional research amongst HR Directors, conducted by Money in Mind two-thirds of organisations are already aware of the impact financial worries have on employee performance, yet only 16pc of organisations currently offer financial support.

However it is encouraging that a further 19% have plans in place to introduce support for their staff and 57% would consider introducing support in future.

All figures, unless otherwise stated, are from YouGov. Total sample size was 2072 adults. Fieldwork was undertaken 11th - 13th July 2011.