[UK] Company expenses increase pressure on struggling employees

In the UK, four in 10 employees have needed to borrow money or fall back on credit cards to cover a work expense, at a time when one in five people are skipping meals or unable to buy daily household essentials, Personnel Today reports

A survey by payroll company PayCaptain has shown that an increasing number of employees are under further financial pressure from the expectation that they will cover business expenses during a cost of living crisis.

A quarter of respondents to the survey reportedly said that having to cover work expenses was increasing existing pressure from their own essential bills.

Younger workers faced greater pressure, according to PayCaptain’s findings. One in six has decided to work from home because they cannot afford to travel.

On average, employees need to cover business expenses up to five times a month; this can amount to an additional £273 in outgoings. A fifth of those surveyed must do so two-to-four times a week and some have to cover up to £4,800 a year.

The survey revealed that covering expenses is negatively affecting workers’ mental health. One in six said it had an impact on their relationships when expenses came on top of having to pay for their usual essentials.

More than three-quarters said money worries affected their productivity at work.

PayCaptain published this research to accompany the launch of the “instant expenses” feature in its software, which enables employers to reimburse staff straight away.

Simon Bocca - PayCaptain’s CEO - said, “It’s shocking that UK businesses continue to expect employees to put themselves in challenging financial positions to cover company expenses, particularly in a cost-of-living crisis.

“Provisions need to be put into place to help safeguard workers when expenses are essential as clearly current archaic processes just don’t work. So many companies claim that their workforce is the beating heart of their operations, but this report shows that so many don’t offer anywhere near enough support.”

In March, research from Cigna Healthcare revealed more than half of adults in the UK were struggling to remain healthy due to rising energy prices and food bills.

Its global survey reportedly revealed that just 30 per cent of UK adults rated their financial wellbeing as high, compared with 70 per cent in Saudi Arabia and 61 per cent in the UAE.

Source: Personnel Today

(Link and quotes via original reporting)

In the UK, four in 10 employees have needed to borrow money or fall back on credit cards to cover a work expense, at a time when one in five people are skipping meals or unable to buy daily household essentials, Personnel Today reports

A survey by payroll company PayCaptain has shown that an increasing number of employees are under further financial pressure from the expectation that they will cover business expenses during a cost of living crisis.

A quarter of respondents to the survey reportedly said that having to cover work expenses was increasing existing pressure from their own essential bills.

Younger workers faced greater pressure, according to PayCaptain’s findings. One in six has decided to work from home because they cannot afford to travel.

On average, employees need to cover business expenses up to five times a month; this can amount to an additional £273 in outgoings. A fifth of those surveyed must do so two-to-four times a week and some have to cover up to £4,800 a year.

The survey revealed that covering expenses is negatively affecting workers’ mental health. One in six said it had an impact on their relationships when expenses came on top of having to pay for their usual essentials.

More than three-quarters said money worries affected their productivity at work.

PayCaptain published this research to accompany the launch of the “instant expenses” feature in its software, which enables employers to reimburse staff straight away.

Simon Bocca - PayCaptain’s CEO - said, “It’s shocking that UK businesses continue to expect employees to put themselves in challenging financial positions to cover company expenses, particularly in a cost-of-living crisis.

“Provisions need to be put into place to help safeguard workers when expenses are essential as clearly current archaic processes just don’t work. So many companies claim that their workforce is the beating heart of their operations, but this report shows that so many don’t offer anywhere near enough support.”

In March, research from Cigna Healthcare revealed more than half of adults in the UK were struggling to remain healthy due to rising energy prices and food bills.

Its global survey reportedly revealed that just 30 per cent of UK adults rated their financial wellbeing as high, compared with 70 per cent in Saudi Arabia and 61 per cent in the UAE.

Source: Personnel Today

(Link and quotes via original reporting)