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Workers look to employers for financial guidance

The majority of employees feel the companies they work for should give them advice to manage their finances, as many still worry about living off their salary, research by Capita Employee Benefits has found.

The majority (81%) of the 3,000 employees polled in the Employee Insight survey said they are actively looking to save money. Almost half (45%) said they would not have £1,000 to spare if they received a large unexpected bill. One-third (33%) said simply staying on top of their day-to-day costs is their primary financial concern. 

The results are slightly more positive than the 2013 survey. More than a quarter (27%) of employees report feeling better off financially than a year ago. That is compared to 20% last year. Despite this, 39% of workers are still concerned that their salary will last until the end of the month. 

More than two-thirds (69%) of workers believe their employers should be doing more to educate them in financial matters. A smaller number (16%) believe courses in financial prudence would be a useful employee benefit. Alex Tulley, head of benefits strategy for Capita Employee Benefits, told HR magazine it's in employers' interest to ensure their staff feel financially secure. 

"If people are worrying about money at home, it's bound to affect their productivity," he said. "People will feel distracted. It's been shown that if people are happy, they work harder and are more engaged."