Research by the MHFA England found that over 50% of UK employees say financial worries negatively affect their performance at work and 45% say it disrupts their sleep.
Financial stress is not just something employees leave at home. It’s something that impacts an employee’s focus at work too. When people are distracted by money problems, their performance drops and it’s a real issue for managers. Supporting your team through life’s challenges, whether that’s money troubles, personal issues or career uncertainty becomes necessary.
So, how can you help your team stay productive and engaged? At Manager Diary, we understand that being a manager isn’t about just managing projects and deadlines. So let’s dive into how great managers are supporting their teams, not just in work, but in life.
Leadership Beyond Tasks: How Managers Are Supporting Their Teams
Becoming a great manager starts with listening, empathising and understanding. Here are some ways you can support your team beyond work:
1. Empathy in Leadership
Being a manager isn’t just about hitting targets anymore – it’s about connecting with your team. Employees who feel cared for by their managers are over twice as likely to be engaged at work. (Source: Gallup)
Empathy goes a long way. When employees know that you’re not just interested in their work but also care about their wellbeing. It helps build trust within the team. If someone on your team is struggling with something, even just knowing you’re there to listen can help them feel more supported. It’s simple, really. You don’t have to be a therapist, just someone who gets it.
2. Emotional Responsibility
As a manager, it’s expected to show up for your team emotionally, not just professionally. Studies show that 40% of employees feel more stressed if they don’t get enough emotional support at work. You don’t have to solve all their problems, but showing you care makes a huge difference. Asking how they’re doing and giving them space to talk about challenges, whether work-related or personal, helps them feel heard. When they feel heard, they feel supported, which leads to a more motivated and loyal team.
3. Why It Matters for Team Culture and Productivity
The link is clear: when your team feels supported, they work better. Employees who trust their managers and feel looked after are more engaged and productive. It’s about creating a culture where everyone’s wellbeing matters. When people feel they can talk openly it builds trust, which is the foundation for great teamwork.
Money Matters: How Financial Stress Affects Work and What You Can Do
Financial woes affect everyone, from managers to employees, and helping them navigate these stressors makes for a great manager.
1. Financial Stress and Performance
Financial stress isn’t just personal but a workplace issue too. 45% of UK employees report that financial stress causes them to lose sleep, leading to fatigue and reduced productivity at work. When someone’s distracted by money worries, it’s hard for them to stay focused on tasks. The reality is, if someone’s worried about paying bills or dealing with debt, it’s going to be tough for them to perform at their best.
As a manager, you need to be aware that financial stress can seriously affect how your team shows up. It’s not just something they can leave at the door.
2. Supporting Financial Wellbeing
While you’re not a financial advisor, you can still encourage employees to create a financial plan. Encouraging employees to use resources which helps with budgeting, saving and planning, can help them focus on their tasks and boost productivity. Offering access to financial wellness programs or guides to financial planning, to help employees get their finances in check shows that you care about more than just their work.
3. Setting Boundaries Around Financial Conversations
It’s important to know your limits. You can be supportive, but you’re not expected to be someone’s financial planner. If an employee is facing serious financial challenges, you can offer resources, but know when to step back and point them in the direction of a professional. Setting those boundaries helps keep things professional and ensures your team gets the help they need from the right people.
Leading Through Change: How Managers Can Lead Through Career and Life Transitions
Many employees face uncertainty in career and life. Guiding and mentoring helps them navigate these changes. Here is something you can do to help them through these.
1. Career Uncertainty
Career changes, whether it’s a promotion, a new role, or the fear of losing a job, are stressful. Employees feel disengaged during times of career uncertainty. A lot of the time, employees are looking for reassurance during these transitions. A little guidance and reassurance from you can go a long way in helping them stay focused, staying engaged and boosting morale.
2. Supporting Career Growth
Employees are always looking for opportunities to grow and a manager should help them do that. Whether it’s with a promotion, skill development or a career change, a good manager can guide them through the process. Offering feedback, creating growth opportunities and supporting their career goals show that you care about their long-term success, not just the next project. When employees feel like they have room to grow, they’re more motivated and more likely to stay engaged. Try this Practical Guide for employees to develop on the professional level.
3. Helping Through Life Transitions
Life doesn’t stop just because someone’s at work. Whether it’s a new baby, a sick family member, or a health issue, employees go through major life changes that affect their work. Offering flexible hours, remote work options or just understanding goes a long way. You don’t have to solve their problems, but offering support during these times shows you care.
Practical Tips for Managers: How to Offer Support Without Overstepping
Try these practical tips for employees navigating difficulties and boost productivity and overall morale.
1. Create Space for Conversations
Set up regular 1:1 meetings where employees can talk openly. Create a safe space where they feel comfortable sharing what’s going on in their personal lives. Even if they’re just venting about something small, listening goes a long way in building trust. Employees who feel heard are more likely to engage and perform better.
2. Know When to Refer Employees to Professionals
You don’t have to solve every problem yourself. If an employee needs help with financial planning or mental health issues, point them in the direction of the right professionals. You’re there to support them, but there’s only so much you can do. Refer them to experts when necessary and make sure they know where to turn for the right help.
3. Be Clear and Transparent
Be open about what resources are available and set clear expectations around work. When employees know what they can expect from you, it creates a sense of security. This helps them feel more confident about reaching out for support, whether it’s personal or work-related.
Resources for Managers and Employees:
Finli.co.uk
Financial management tools for employees.
Mind.org.uk
Mental health resources for managers to support employee wellbeing.
NHS.uk
Resources and guidance for improving mental health in the workplace
Mentalhealthatwork.org.uk
Tools, training and resources to create mentally healthy workplaces
Healthassured.org
Employee Assistance Program (EAP) offering confidential support for employees dealing with personal or work-related issues
ManagerDiary.co.uk
For personalised coaching sessions, training and workshops.
Conclusion: Leading with Empathy and Clarity
Being a great manager today isn’t just about managing projects, it’s about helping people navigate life too. Financial stress, emotional wellbeing and career transitions all impact how employees show up at work. As a manager, your role of supporting your team through these challenges requires listening, offering guidance and creating a supportive work environment.
When you lead with empathy, set clear boundaries and make resources available, your team will thrive. Not only will they be more engaged and productive, but they’ll also be more loyal and committed to the company. So, start leading beyond work. Your team, and your bottom line, will thank you for it.
