Nuffield Health’s annual Healthier Nation Index survey has identified that media and marketing professionals, along with individuals in the North East of England, have been most severely affected by mental health challenges stemming from the cost-of-living crisis.
The survey revealed startling statistics about the impact of financial pressures on mental health. A significant 38.24 percent of full-time workers and 42.69 percent of part-time workers reported that their financial health is worse than in previous years. These financial strains have manifested in broader health repercussions, with 62.56 percent of full-time and 60.81 percent of part-time employees acknowledging that changes in personal finances have negatively impacted their mental and physical health over the past 12 months.
Mind, a leading mental health charity, notes that the inability to afford everyday necessities such as food, fuel, and housing costs can lead to severe mental health problems. Women appear to be disproportionately affected, with 64.38 percent of female respondents indicating that their mental health has been impacted by rising living costs, compared to 53.40 percent of men. Notably, male respondents have also reported an increase in financial stress, with 53.4 percent in the current survey, up from 50.65 percent the previous year.
Income levels play a crucial role in the extent of financial stress experienced. Among those earning less than £15,000, 66.17 percent reported deteriorating financial health. This concern extends to those earning between £15,001 and £25,000, where 64.16 percent felt a negative impact. Geographically, the North East of England is the worst-affected area on the UK mainland, with 62.58 percent feeling the strain. Only Northern Ireland recorded higher levels of distress.
Industries like Sales, Media, and Marketing are among the most affected, with a staggering 75.76 percent of employees in these sectors acknowledging the adverse effects of the cost-of-living crisis on their mental health. The findings underscore the urgent need for organisational change to combat these issues. Managers are urged to focus on four key areas: ensuring pay equality, providing equal opportunities for promotion, fostering a transparent workplace culture, and offering access to mental health support.
Gosia Bowling, national lead for emotional wellbeing at Nuffield Health, emphasised the importance of these measures, stating that they can significantly improve employees’ mental health. These recommendations aim to address the structural issues within workplaces that contribute to financial and mental stress.
The data from Nuffield Health’s survey paints a concerning picture of the mental health crisis exacerbated by the cost-of-living pressures, particularly within the media and marketing sectors and the North East of England. Immediate action by employers and industry leaders is essential to address these challenges and provide comprehensive support to affected individuals.