The UK is currently going through a credit crisis with the UK’s personal debt the highest ever seen.  The stresses of debt are now starting to take their toll on employees at work- known as money sickness syndrome.  Many employers are now taking this issue extremely seriously with HR departments now dealing with personal money matters with employees.

Previously many companies have been slow with this issue but now as the UK debt problems increase employee debt can have effects on company productivity.  A recent new publication, the Thoresen Report shows that employers have a leading role to play in helping individuals and companies should do more to help their employees with any personal debt related issues.

It is arguable as to why an employer should even meddle with the employees’ personal matters but now with the ever increasing personal debt mountain building in the UK it is difficult for employers not to help and is seen as more than just a social issue. 

It has been found that the debt problems affect everyone in all classes and not just those on lower incomes or those of a younger generation.  It is only a matter of time when an employees’ debt problem start spilling into the workplace and starts having an negative impact on performance.

But how can employers help?

It is important for employers to help and educate employees on money matters as well supporting employees in financial matters.

An employer can help thorough an in-house full debt counselling service where it can offer financial management courses or work in partnership with a debt counseling professionals such as Debt Plan Direct who can help employees to ease their worries and reduce the payments. 

Employers should reach out and help their employees.