These days, everyone is feeling the pinch from continued high inflation and healthcare workers are no exception.
A Harris Poll released Wednesday afternoon found that most healthcare workers say inflation and financial stressors are detrimental to their mental health.
Nearly two-thirds of respondents said the stress surrounding their personal financial situation is having a negative impact on their sleep, with more than 50% saying that it has affected their mental health, self-esteem, physical health and relationships at home.
Almost 70% of healthcare workers said managing their finances is stressful, exceeding the amount of Americans who express the same sentiment (56%). Additionally, about two-thirds of healthcare workers said they live paycheck-to-paycheck, according to the poll.
Looking to the future, approximately 80% of healthcare workers are worried about macroeconomic headwinds like continued inflation or a potential recession that could create a further negative impact on their personal finances. More than 70% of these employees did credit their employers with caring about their mental and physical health as well as providing them the flexibility to manage their personal life during work hours.
“With the ongoing healthcare labor shortages plaguing this country, it’s very disheartening to see that so many of those who remain are struggling,” IntelyCare CEO David Coppins said in a statement. “With inflation and the holidays coming, we need to get smart about how we help our healthcare workers. Hiring bonuses and raises that are offset by rising living costs will not translate to building sustainable workforces.”
Other key findings from the survey include that 71% of healthcare workers would be more likely to remain at a job if their employer offered an on-demand pay benefit. More than 40% of respondents said that their employer does not provide adequate resources or benefits to manage financial stress.
The Harris Poll marks the latest research into the effects of sustained inflation on the behavioral wellbeing of Americans, with a particular focus on the healthcare community. Over the summer, Lifeworks released a report that noted many Americans are struggling to meet basic needs due to inflation and it has had a significant impact on their mental health.
The poll results were released during one of the most stressful times of the year for many Americans. A recent survey found that more than one-third of Americans said they’ve taken anti-anxiety medications to manage family stress during the holiday season.