The Chartered Institute of Personnel and Development has launched guidance for employers to improve financial awareness in the workplace and reduce employee stress.
The guide also highlights the risks of a financially ill-educated workforce often leading to waste of reward packages that have been invested in due to lack of employee awareness.
The guide calls on employers to offer financial education to combat the danger of stress and anxiety-related underperformance associated with employee debt.
Charles Cotton, reward adviser at the CIPD, said: "Employers may think that the financial savvyness of their employees is not their responsibility. But the impact of not providing financial education can mean a workforce pre-occupied or overwhelmed by their own financial worries, and unable to appreciate the value of their organisation's pay, benefits and pensions package.
"A little financial education can go a long way. It can improve performance by giving employees the means to alleviate stress and pressure they're under because of financial difficulties."
Three quarters of employees reported that their workplace offered no form of financial support or advice to help manage their finances, CIPD research showed.
The same survey showed the most common workplace offerings were employee assistance programmes; access to an independent financial adviser; and workshops on financial self-management.
And 59% of employees reported they would only be able to survive for less than six months if main income was lost.
Dr Ros Altmann, director-general of Saga, said: "Financial planning in the workplace can be hugely beneficial to help people manage their money. Many people have no idea about financial planning and investment - it is not taught in schools or universities and there is often confusing jargon that puts people off engaging with the issue.
"Employers should not be expected to educate their workforce on these issues, but those who are willing to offer financial planning courses as an employee benefit could perhaps be incentivised to do so."
CIPD research was based on a survey of 2,000 employees and published in its Summer 2012 Employee Outlook Focus.
According to the CIPD and Simplyhealth Absence Management survey last year, stress was identified as the number one cause of long-term sickness absence.
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