This year has been filled with anxiety for many. With consumer inflation at over 9% across the island, the cost of living has soared throughout 2022.
It’s undeniable that people will have difficulty, and some will find it impossible, to do the things that keep them well over the next year.
The rising cost of living is putting us all under enormous pressure. We need to release this pressure, for the sake of our lives, our families and our communities. So, what can you do to preserve and protect your mental wellbeing during this difficult period. Some positive steps include:
Financial distress can occur when worries about finances impact on a person’s overall wellbeing. One way to reduce this distress in your workplace is to improve your organisation’s approach to financial wellbeing. Financial wellbeing considers a person’s:
The people in a workplace are not homogenous. Everyone will have their own attitudes and concerns around finance, but a workplace that places value on financial wellbeing can work to understand the issues facing people within the organisation and develop initiatives to prioritise financial wellbeing – whether that’s ensuring a fair salary to ease immediate financial concerns or providing access to financial advice as part of a wellbeing package that looks to the person’s future.
Employers should be aware of the stress we’re all experiencing and make sure that people are regularly reminded of the financial and mental health services that are included as part of their benefits package.