COVID-19 is taking a toll on people’s financial and mental wellbeing. The impact and uncertainty of COVID-19 is causing significant stress and anxiety (work and home life), with almost 60% of people claiming that COVID-19 has already directly impacted their financial position, and many saying that their mental health will take a significant hit.
The research, from an employee perspective, revealed many key insights for employers, including the following:
- 36% claim the uncertainty of COVID-19 is damaging their mental health (especially those <35 years, in retail / hospitality, low incomes, > 1 person households, parents with kids at home, or a history of anxiety / depression)
- 3 in 10 have sought help due to feeling mentally unhealthy as a direct result of COVID-19 (higher for females, those aged <35 years, parents with kids at home, higher incomes, and household with people at risk)
- 76% of employees rated their employer’s response to COVID-19 as being positive (key drivers of satisfaction include the ability to WFH, regular and transparent communications, and flexibility in schedules especially for parents)
- 42% of employees are worried about losing their job, while 55% of parents worried about productivity with kids at home (employees are craving reassurance of roles and news on the stability / health of the business)
- 58% claim that COVID-19 has negatively impacted on their finances already, hence key cause of stress (concerns relate to supporting short-term needs like household bills, medical expenses, day to day living expenses)
- Interestingly, those that rated their employer’s response to COVID-19 positively, are more likely to have rated their health and wellbeing as high.
We have developed a range of material to support employers with their employees’ mental and physical wellbeing. We can provide this material as well as the full research and insights to clients.
Find out how to access the research and the support material in our Coronavirus Information Centre.
