New research from Equals Money reveals that burnout and workload is creating a stressed-out workforce, with implications on mental and physical health.
New research from digital payments provider Equals Money has revealed the high levels of stress across the office-based Yorkshire workforce. In the survey of 101 Yorkshire office workers, 90% of respondents claim they feel stressed at work, with 11% saying they were stressed “all the time” at work. Leading causes of this stress included work overload (55%), lack of communication (36%), and bad management (33%).
With responses from all levels of seniority, from junior members through to business owners and managing directors, all workers found managing finances a distraction from their other priorities, showing the need for a more efficient solution.
Nearly a third (33%) attributed their stress to managing daily financial tasks like filing expenses, invoicing clients, and receiving and paying invoices.
The statistics spell out a dire warning for Yorkshire businesses with retention concerns: over three quarters (77%) of workers said workplace stress has made them want to look for a new job, with 26% actively looking. It’s also costing businesses precious time and money, as almost 56% said that workplace stress had caused them to take time off. At a time when businesses are under pressure, a high level of stress is making the workforce less efficient and unable to work to the best of their ability.
59% of the office workers surveyed suffer from some form of physical pain (back, neck or joint pain) while at work – and this is having a knock-on effect on their quality of life. 40% claim that pain distracts them from their job and a quarter (25%) said pain prevents them from enjoying activities outside of work.
Although stress-induced pain is being attributed to the workplace, most employees are having to find their own relief. When it comes to managing pain, 19% are actively taking painkillers and 28% use a chiropractor. However, almost half (67%) are not offered a chiropractor as part of a workplace benefit scheme, which is much higher than the national average or 55% not offered chiropractor support.
Dean Whitby, Regional Sales Manager for Yorkshire at Equals Money, comments, “The research completely aligns with what we have seen across businesses in Yorkshire; too much to do in not enough time. Employees at all levels of an organisation are under increasing amounts of stress and are looking for ways to take the pressure off. Equals Money looks to take the hassle out of financial tasks, giving teams more time on their hands to focus on other business objectives.”
Ian Strafford-Taylor, Co-Founder and Chief Executive Officer of Equals Money, comments, “The research clearly shows that UK workers are under a significant amount of stress – from overloaded work schedules to the day-to-day worries of running a business. This stress is causing staff to take leave and even search for different jobs, which creates efficiency and profitability issues for businesses. But the good news is, with innovative solutions, businesses can cut out frustrating admin for their teams, making workloads more manageable. Equals Money is designed to give workers one less thing to worry about by making business payments pain-free, thanks to our real time payments platform and expense management tools.”
Juliette Hobson, professional chiropractor, comments, “A lot of my patients forget how connected our mental and physical health is, with one often affecting the other. When we’re stressed it causes our body to think it’s in danger, sending signals around the body which can stop our muscles around the lower back working properly, causing back pain. In turn, ongoing physical pains can have an impact on our mental health. One way to stop this cycle, and help reduce stress, is if you treat any pain that may come as a result of this early on. To keep body aches and pains at bay make sure you’re standing up from your desk and doing a short 10-minute walk regularly, do body stretches, and keep hydrated as this keeps joints lubricated and the mind refreshed. You can also reach out to a local chiropractor should the pain continue.”
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