The inextricable link between money and mental health

Jonathan Lewis profile picture

13 October 2020

Jonathan Lewis
Managing director of health and social care, Earnd


The last six months have been tough on many fronts. On World Mental Health Day, it feels particularly appropriate to consider the impact this year has had on the workforce and those on the frontline. Right now, we know that stress, anxiety and depression are some of the biggest challenges that NHS employees face.

One of the leading causes of stress is money – more directly, a lack of it. A recent report from EY found that 70% of people in the US and UK experience financial difficulty regularly. This makes them more likely to be distracted, take sick days and ultimately leave their job. It’s the delay between working and receiving pay for working that’s one of the biggest pain points for employees. It causes shortfalls that create financial stress and can lead to borrowing at high interest rates.

In addition to this, a recent study by Money and Mental Health found that 86% of people dealing with mental health issues said their financial situation had made their mental health issues worse. And 72% said their mental health issues had made their financial situation worse.

It’s clear that there’s an inextricable link between mental and financial wellbeing.

So, what can we do? Paying your staff more isn’t always an option, however improving their access to pay could be. EY’s report found that of the people who had experienced financial difficulty, more than half said it was due to bills or expenses falling before payday. It’s no surprise then that 80% of people would use on-demand pay to help them budget better and save more.

That’s how Earnd is currently helping NHS employers. We enable you to provide your employees with access to on-demand pay. There’s no fee and there’s no interest – just the money they’ve earned available when they need it. It’s sustainable and easy to implement, that’s why some NHS Trusts are already reporting that their employees feel better and more in control.

See how you can be apart of this change. 

We work with Earnd as part of NHS Providers Connect. Earnd, made possible by Greensill, provide an early payment service that is open to the NHS for free. This ensures individuals can access instant daily pay for the work they have done, as they earn it.

About the author

Jonathan Lewis profile picture

Jonathan Lewis
Managing director of health and social care, Earnd

Jonathan is the managing director of health and social care for Greensill and Earnd. He has had a wide-ranging career working in private, public and third sector organisations across advertising, social investment television and finance, as well as being a director/non-executive director of over 20 companies including several NHS trusts. As a NHS chief executive for six years, he understands workforce challenges facing the NHS and is particularly interested in how to improve the financial position of NHS staff, in particular lower-banded staff.

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