Mental Health Awareness Week: Support Your Team
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It’s Mental Health Awareness Week
This week is Mental Health Awareness Week, and at Lifetime, we’re passionate about advocating for better mental health, something we know is strongly tied to better financial health.
We know the rising cost of living is putting real pressure on employees. From soaring energy bills to food inflation and housing costs, financial strain is becoming a daily stressor for millions. For people already experiencing mental health problems, the impact can be even more severe.
According to research from the Money and Mental Health Policy Institute, people with mental health problems are more than three times as likely to be in problem debt:
- 72% of respondents said their mental health problems had made their financial situation worse.
- People with mental health conditions are over twice as likely to be behind on energy bills.
On the flip side, financial difficulty is a major contributor to poor mental wellbeing. Worrying about money can lead to sleepless nights, heightened anxiety, and even depression.
The Role of Employers and HR Professionals
Managers and HR leaders aren’t expected to solve every individual’s challenge, but the workplace plays a huge part in people’s mental and financial wellbeing. Employers are in a unique position to break the cycle by creating an environment where people feel supported, not judged.
Here are a few practical ways to start:
1. Reduce the stigma
Foster a culture of openness. Create safe spaces where people can talk about money and mental health without shame or embarrassment. Mental health first aiders, internal campaigns, and visible leadership support go a long way.
2. Provide meaningful support and tools
One-size-fits-all wellbeing benefits don’t cut it. People need tailored financial guidance that matches their situation, not generic tips or isolated perks. Whether it’s access to budgeting tools, confidential 1:1 financial guidance, or financial education workshops, these resources matter.
3. Prioritise social inclusion
Financial difficulty can lead to social withdrawal and exclusion. Inclusive workplaces make sure no one is left out – for example, by making work events accessible regardless of someone’s budget or personal circumstances.
4. Address work-related stress
Tight deadlines, unclear expectations, or a lack of flexibility can worsen financial anxiety. Regular check-ins, realistic workloads, and autonomy can help ease the pressure.
5. Watch out for harmful behaviours
Signs such as disengagement, presenteeism, or even frequent online searches about payday loans (if visible on work devices) may signal someone is struggling silently.
At Lifetime, we believe that better mental health often begins with better financial wellbeing. Our financial wellbeing benefit is helping employees understand, manage, and take control of their finances, we can break the vicious cycle – and help people thrive both at work and at home.
