Employers ‘need to help staff with debt problems’

It is vital that employers attempt to support staff who are having debt troubles.

This is the opinion of the Consumer Credit Counselling Service (CCCS), which has claimed such colleagues can play a significant role in helping employees who are struggling to cope with their finances.

The charity called for organisations to encourage staff with money worries to seek help immediately as delaying any action can result in more serious consequences.

Delroy Corinaldi, external affairs director at CCCS, commented: “The UK’s personal debt problem is likely to get far worse over the next year and employers are in an important position to help staff who have a debt problem.”

He added that employers could provide information on notice boards and in staff magazines to help those in need.

Peter Law, president at R3, recently stated that unemployment can act as a trigger for personal insolvency because the two are closely related.

By Joe Shervin