Many households experience experience financial difficulties, this can contribute to increased levels of stress and anxiety for these colleagues, at a time when stress and anxiety may already be heightened. It is therefore important that employers take proactive steps to ensure:
- Basics such as payroll run as smoothly as possible and any errors in payments (especially under-payments) are corrected as quickly as possible.
- Expense claims are authorised, processed and paid within 1 month of submission.
- That all staff are made aware of any financial tools and assistance which is available to them.
The pressures and decisions on how to approach credit can also have a major influence on an individual’s response and decisions. Being able to direct colleagues to a range of free and reliable debt management and savings advice is especially important at this time. It is important to be aware that there may also be impacts on individual and community social wellbeing.