National Stress Awareness Day Sees Brits Plan To Work All Hours As The Credit Crunch Worsens, UK

Main Category: Anxiety / Stress
Also Included In: Public Health;  Mental Health;  Psychology / Psychiatry
Article Date: 05 Nov 2008 - 5:00 PDT

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One in four adults (25 per cent) plan to work longer hours during the next six months and one in eight intend to take on a second job, despite the workplace being a major source of stress, according to research from Friends Provident released on National Stress Awareness Day (5 November).

Almost two thirds of people (61 per cent) say they feel more stressed, run down and prone to illness than they did three years ago - and more than one in 10 (11 per cent) of these busy and pressured Brits say the majority of stress they experience comes from work, specifically their bosses and colleagues.

In addition to raising stress levels by putting in more hours at work, millions of Brits aren't even benefitting financially. The Britain Under Pressure report reveals that UK adults are working an average of seven hours unpaid overtime every week - losing out on a combined £23 billion a year.

Mark Jones, head of protection at Friends Provident, said:

"Our research shows the credit crunch is having serious implications on the nation's workforce, with people working and worrying more. These are tense times, and working longer - often for little or no financial reward - will add to people's stress levels. Stress can have serious ramifications on long-term health and wellbeing, and the lifestyle impact of living a stressed and busy lifestyle - poor diet and lack of exercise in particular - is adding to the problem."

As the credit crunch worsens, Brits are following a pattern they've resorted to before: more than a quarter of people (27 per cent) have put more time in at work when they've been concerned about money in the past. And as people forecast working longer in the coming months, the UK is likely to retain its record for the longest hours working in Europe at 43.5 hours a week (compared to 38.2 hours a week in France and 39.9 in Germany).

The Britain Under Pressure report also pinpointed the factors adding to stress in the workplace:

- Two fifths (40 per cent) of people claim they don't have enough time to get things done and because of this, one in three workers don't take their full holiday entitlements due to pressures at work;

- The stress factor is further escalated with people being able to easily work from home - 40 per cent of people admit to "not switching off" outside work and more than a quarter (27 per cent) say they worry a lot about work outside of working hours.

Friends Provident, working in association with Doctor Rob Hicks, an authority on stress and its impact on health, have created a fact sheet to help consumers understand and manage stress. The fact sheet is available (from Wednesday 5 November) at http://www.friendsprovident.com/customer and provides hints and tips to help people feel more relaxed, reinvigorated and able to cope with what work and life throws at them.

The research:

The Britain Under Pressure research and report was commissioned by Friends Provident and is based on independent research undertaken by The Next Big Thing in August 2008.

The research for the Britain Under Pressure report was undertaken using two focus groups. A OnePoll survey was also conducted by 72 Point in August 2008 and surveyed 2,713 adults across the UK.

The fact sheet is available from http://www.friendsprovident.com/customer

About Friends Provident

Friends Provident is a leading UK financial services group and a constituent of the FTSE100 Index. Founded in 1832 to alleviate the hardship of Quaker families facing misfortune, Friends Provident remains committed to achieving high standards of corporate behaviour and accountability. http://www.friendsprovident.com

In the UK, Friends Provident provides a range of protection, pensions and investment products for individual customers and corporate clients.

Friends Provident International operates across territories in Europe, Asia, and the Middle East.

Friends Provident wholly owns the Luxembourg-based company Lombard International Assurance, which specialises in the use of life assurance as a specialist wealth management structure for high net-worth investors.

About Friends Provident Protection Business

Friends Provident has been writing term assurance since the company's foundation in 1832 and income protection business since 1882.

Our award winning eSelect system offers online underwriting for term assurance, critical illness and waiver of premium, capable of accepting on ordinary rates or with special terms.

The majority of Friends Provident's new protection business is transacted online. This process allows end-to-end online electronic processing and account servicing ranging from new business quotations to new business tracking.

Source
Anna Murray
Senior Account Manager
Consolidated PR
22 Endell Street, London WC2H 9AD

Friends Provident Protection Business

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