Employers are underestimating employees’ need for financial support during the cost of living crisis, new research has found.

A new study has found a third (37%) of employees paying for company expenses impacts their mental health and 77% worrying about money distracts them at work.

The number of businesses offering household bill support has increased 68-fold between 2021 and 2022, according to analysis of over 21 million job ads.

Almost all (99%) SMEs have said they have noticed behavioural changes across their team as a result of financial constraints in the last six months.