The words ‘cost of living crisis’ have been used repeatedly for years now and we’re all feeling the pinch of it...
Even though there have been signs of improvement, as we’re told by the Bank of England, it’s far from over. The latest decisions to make cuts to winter fuel payments has been very controversial and received a lot of criticism as many people, loved ones and families will struggle through the winter months.
How can finance issues impact people’s mental health?
Ultimately, it causes a lot of stress and it can develop into more serious health issues such as burnout and other physical manifestations like headaches and nausea. Stress can start off as something small, but it can grow or spiral into something a lot bigger and make people worry and not feel good- especially if people don’t have the support that they need. Early intervention is very useful when it comes to supporting people with their mental health.
People can suffer from anxiety and panic from certain financial situations. Feeling very apprehensive over receiving letters, attending appointments for government help or benefits, going to foodbanks, can feel like very daunting situations. This takes a toll on people’s mental health and can make people anxious, stressed, depressed, and develop a lack of self-confidence.
It doesn’t stop there, financial issues can affect someone’s social life and/or physical health due to lack of food or nutrition; all of which cause increased levels of loneliness, isolation and overall poor health.
Where does occupational health come in?
We’ve previously discussed personal hidden pressures and how they can impact how an employee presents at work; financial worries and problems cause the same work issues. There’ll be a lack of productivity and concentration due to stress and anxiety; a rise in absenteeism and presenteeism; increased levels of long-term sickness due to mental health and this costs organisations a lot of money.
To help with these problems, occupational health can mean that people have support to deal with their mental health in positive ways, making it have less of a negative impact on work. Access to support can be a lifeline for many dealing with a harsh winter. Whilst occupational health can’t solve financial issues, it can ease the pressure and offer guidance, as well as keeping people healthy and remaining in work.
