A big insurance company in the UK is running a campaign to get employers to give workers a small amount of time each month to deal with money problems. According to the insurance company, managing money has become a much bigger problem recently. Rising mortgage payments, higher inflation, rising costs for things like food and insurance, and other rising costs make it hard for consumers to keep their income and expenses in balance.
The campaign is called "My Budget Day," and the insurance company plans to start it on November 21. The largest union in the country, Unite, and the Confederation of British Industry are behind it. The campaign is trying to get employers to let employees take one hour off each month to deal with money problems and budgeting. It says that this could save employers money and time in the long run by reducing stress among staff members who are having trouble with money.
The insurance company has already said that it will give all of its employees the first hour off on November 21 to deal with their finances, and it wants other companies to do the same. One official from the Confederation of British Industry called the campaign a breath of fresh air and a great way for employers to motivate their workers, boost morale, and reduce stress.
Recent numbers show that stress-related absences cost employers in the UK around GBP9.6 billion last year. A lot of this stress is thought to be caused by money problems that employees find hard to deal with. One person in the business world said that most employees already waste about three hours a month on things like texting, emailing friends, and gossiping. He said that, compared to this, asking for one hour to do something as helpful as budgeting wasn't too much.
Officials who support the campaign hope that this small amount of time each month will give employees a little help with their money problems and issues, making them less stressed and less likely to miss work because of money problems.
