The impact of financial wellbeing on overall health and satisfaction

The UK’s satisfaction with general health is falling. In a recent survey published by the Office for National Statistics, it was revealed that just 58.6% of British adults aged 16 and over said they were somewhat, mostly or completely satisfied with their general health in 2011/12,. This showed a fall from 65.6% in 2010-11, and, most notably a drop of almost 10 percentage points from 68.3% in 2009/10.

People in the 45-54 age group were the most likely to be dissatisfied with their general health (38.3%) while in older age groups, dissatisfaction was at lower levels. In the 55 to 64 age bracket, 37.3% were dissatisfied, in the 65 to 74 group the figure was 33.3 % and for people aged 75 and over, 35.1% were dissatisfied.

People were not so satisfied with their financial situation, either. The average income in Great Britain in 2011/12 was £23,208, and the proportion of people in the UK who said they were satisfied with their income fell from 57.3% to 52.9% between 2010-11 and 2011/12. Around 10% of people said they found it difficult to get by financially. However, perhaps surprisingly in light of this area of financial dissatisfaction, the proportion of people who were satisfied with their jobs remained at around 77%.

Indeed, the level of satisfaction people have regarding general health and finances was not reflected in their attitude to life. The ONS survey, Measuring National Wellbeing, Life in the UK 2014, showed an overall rise in satisfaction in the UK, with figures suggesting that British people were mostly satisfied with their lives, despite falling incomes and failing health.

Some 77% of adults said they rated their life satisfaction at more than seven out of 10 in a survey carried out in 2012-13, and increase compared with the 75% who said the same in the previous year’s survey.

But while satisfaction in work and life remained relatively high, the level of satisfaction with general health showed that there is significant scope for improvement. Paul Roberts at IHC, commented: “What is fascinating is that general wellbeing is so high, which masks an overall drop in the reports of how people view their health. This has actually dropped significantly on both occasions the report was run in the past – falling from 68% to 58% in just 3 years.”

Speak about how you can support your staff and improve their health and wellbeing, call Paul Roberts on 020 7353 4099 and speak to your consulant.