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Money on our Minds: the impact of the coronavirus pandemic on UK workers

This report based on a survey of over 2,000 UK workers in full or part-time employment assesses the effect of Covid-19 on their finances, savings and debt - and the impact of poor financial wellbeing on their health and employment.

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Some of the results in this report are quite sobering. 1 in 4 workers with money worries said that their concerns were entirely related to the pandemic. Younger workers have been hit particularly hard, being concerned not only with their finances, but also with job stability and career prospects. The survey has unearthed some unexpected insights that suggest women are comparatively more robust when it comes to their financial wellbeing than men. Men in part-time employment are emerging as a demographic of key concern when it comes to the impacts of poor financial wellbeing on their mental health.

However, the research also offers a glimmer of hope to employers looking to retain key talent over the coming months and years as businesses try to regain the lost momentum of 2020. There is a direct and unwavering link between the provision of financial support in the workplace and the loyalty of employees.

About PayDashboard

PayDashboard is an interactive cloud payslip that integrates with your payroll software to deliver an all-encompassing employee payday experience. PayDashboard means increased efficiencies for you, and access to fairer finance for employees.

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