Employers think the cost-of-living crisis is now the biggest cause of stress among their workforce, according to new research from Group Risk Development (Grid).
These findings were consistent across much of the workforce, with around one in three employers saying this was the biggest cause of stress for generation X, generation Z and millennial workers. However, employers cited health concerns as being a bigger cause of stress and anxiety for baby boomers — again cited by around one in three respondents.
In similar research undertaken in 2022, employers thought that stress and anxiety related to finances and debt was a primary issue for just Gen Z and millennials.
The fact that employers now recognise this as being the most pressing issue for Gen X too, reflects the ongoing cost of living crisis, particularly how rising interest rates are impacting mortgage repayments.
There were similar findings when employees were asked about their own health and wellbeing concerns. Stress and anxiety relating to finances was the most common issue troubling gen Z, millennials and generation X-ers.
Baby-boomers agreed with their employers that living with long-term chronic illness or health conditions (e.g. diabetes) is their most pressing health and wellbeing concern.
Grid spokesperson Katharine Moxham said: “Employees are mostly in agreement about what their most pressing health and wellbeing concerns are, however, the important thing is for employers to put support in place to help alleviate this stress.
“Although stress and anxiety related to finances and debt is most employees’ primary concern, there are lots of other issues that are in close contention, including concerns relating to general lack of fitness (due to non-active lifestyle/sedentary working) and related to work (such as pressures of overwork, uncertainty of future). It’s therefore important to cater for all health and wellbeing concerns across all employee generations.”