Financial wellbeing: survey results
11 September 2019
5
min read
Feeling confident about the choices you make now helps you to feel secure about the future. A QSuper-commissioned survey1 of more than 3,500 Queensland workers pinpoints the top financial concerns currently, and how employers can help.
The rising age of retirement and funding that retirement are among the top financial concerns of Queensland workers, according to a survey commissioned by QSuper and conducted in August this year. Financial concerns can have a productivity impact, with almost half (47%) of all workers spending up to 3 hours per week worrying about their finances at work.
Financial concerns of Queensland workers
Across the survey respondents, almost all (95%) admitted to having at least one area of financial concern. Overall, the financial concerns that affect more than half of all survey respondents are:
64%
– The rising age of retirement
62%
– Affording healthcare
61%
– Funding my retirement
61%
– Insurance costs
56%
– Changes to Age Pension entitlements/rules
56%
– Cost of petrol
52%
– My amount of superannuation
47% of workers have spent time worrying about their finances at work, and 30% have had difficulty sleeping due to financial stress. Additionally, 34% of respondents said they have avoided thinking about their finances as it upsets them.
How employers can help
Financial wellbeing means feeling confident about lifestyle and financial choices now, to feel secure about the future. Approximately two-thirds of workers would welcome their employer providing access to financial education and wellbeing programs, with almost half of all workers stating that it would raise their opinion of their organisation if this were offered.
Pleasingly, 38% of workers stated that their employer already does provide some financial wellbeing support. And overall across Queensland, 78% of workers who attended a financial education activity or event organised by their employer over the past year felt more positive.
31%
– Feel more positive about my financial future
25%
– Feel more in control of my current finances
22%
– Have made positive changes in my finances
22%
– Allowed me to set clear goals for my future.
QSuper support for employers
QSuper partners with you to provide tailored financial wellbeing solutions to your staff.
We offer a comprehensive workplace talks program that covers a range of finance topics to suit employees at any stage in their career. The talks run for 15-60 minutes, depending on the topic.
We also offer a number of online tools and resources for your staff, including videos, calculators, articles and QSuper FinFit.
Learn more about QSuper’s financial wellbeing resources and how we can tailor these to your workplace
Contact our team
1. Survey of 3,554 Queensland-based workers conducted in July & August 2019 by Ipsos, commissioned by QSuper.