According to the CIPD, money worries can cause absence from work, either from employees taking time off work to deal with these worries, or because they are too stressed to work at all. It can also cause presenteeism, where team members attend work but are not fully focused due to money worries.
The CIPD Good Work Index revealed that in 2025:
- 31% of employees said money worries negatively affected their performance
- This rose to 37% for those earning less than £40,000
- Even among those earning £60,000+, 22% reported the same
The impact goes beyond productivity:
- 19% said financial worries had affected their sleep
- 15% reported stress-related health problems
- 13% struggled to concentrate or make decisions
So, what can employers do to help?
When organisations talk about employee financial wellbeing, the conversation often starts and ends with salary. But pay is only one part of the bigger financial picture.
A health care cash plan can make a surprisingly practical difference to the everyday outgoings of employees. By helping people claim money back towards routine health costs, an employer paid cash plan such as Handy Health Cover, gives them access to support they may otherwise delay, overlook or automatically decide they cannot afford:
- It helps existing salaries go further: A cash plan can help reduce the amount employees spend on everyday health expenses such as dental treatment, eye care, physiotherapy and prescriptions. For employees the benefit is tangible: money straight back into their pockets. For employers, it can be a cost-effective way to add real value to a benefits package without committing to salary increases.
- It encourages preventative care before problems become costly: Employees may be more likely to attend dental check-ups, eye tests, health screenings or physiotherapy appointments when they know support is available towards the cost. This can help people deal with small issues before they become more serious, more expensive and more disruptive. From a workplace perspective, supporting earlier treatment may also help reduce absence and presenteeism.
- It provides access to services employees may not usually consider: Plans like Handy Health Cover provide access to benefits such as, physiotherapy, complementary therapies, private health diagnostics and more. These are services that some employees may not have explored before, assuming they were too expensive, too difficult to access or not relevant to them. A cash plan can help remove that barrier and make support feel more accessible.
- It even offers financial guidance, through an Employee Assistance Programme (EAP): Some plans, including Handy Health Cover, offer an EAP. This is a 24/7 confidential helpline, designed to help colleagues navigate workplace and personal challenges including information to help with financial issues such as debt management, benefits, tax and budgeting.
Financial worries can have a real impact on absence and day-to-day performance at work. While no single benefit can remove every financial pressure employees face, Handy Health Cover can help ease some of the everyday health costs that contribute to financial strain, giving teams practical health, wellbeing and financial support.
To support your team with Handy Health Cover, head to Employer Paid – Handy Health Cover. Cover starts from £4.15 per employee, per month.*
*The price shown is per employee, per month, applies where there are 700+ employees and there is no existing health cover in place. If you have an existing employer paid cash plan with a different provider, please contact us for a quote.
