Second Crystal intermediary survey highlights major rise in key mental health concerns

11 May 2021

Results released at start of national Mental Health Awareness Week (May 10-16)

Crystal Specialist Finance (CSF) has published results of its second Health and Wellbeing Survey for the intermediary sector, with concern for mental wellbeing and working hours both showing worrying rises.

When asked ‘how would you rate your overall level of mental wellbeing’ 17.57% said the issue was of concern, up from 6.90% in August 2020.

People working over 45 hours per week also increased to 66.22% from 62.07% when asked ‘on average how many hours do you work each week’. The Government’s Working Time Directive states you can’t work more than 48 hours a week on average, certain jobs aside, based over a 17 week period.

On the plus side respondents’ levels of contentment have improved, although the largest percentage shift was into the ‘moderately happy category’.

The respondents were 95% directly authorised mortgage brokers and/or appointed representatives with the 5% balance being professional introducers, such as accountants and solicitors.

The questionnaire, which will be undertaken bi-annually, is part of CSF’s ongoing Health & Wellbeing Campaign which is looking to help individuals in the sector identify mental health issues and take the necessary steps to overcome isolation, stress, grief, financial worries and fears about the future.

The results have been released at start of Mental Health Awareness Week which runs from May 10-16. Hosted by the Mental Health Foundation, this year’s theme is ‘nature’ and the website provides resources, top tips, school packs and other ways to get involved, as well as a detailed Q&A page.

Jason Berry, CSF’s Group Sales and Marketing Director, said of the results: “The questionnaire has developed from our first research project in August 2020, and we have added a number of questions to better correlate and understand the findings.

“Worryingly almost 73% of those responding said their company did not participate in any mental health or wellbeing initiative, and 10% of all sick days taken in 2020 were as a result of mental health.

“While we are all very aware that the market is very busy right now and the survey comes on the back of a tough lockdown winter, businesses and individuals must realise that the lack of a proper holiday and excessive working hours can have a detrimental effect on their lives and livelihoods.

“I, and many of the leading financial service professionals who have joined the Health and Wellbeing Campaign, urge company owners, directors and managers to take the initiative, look how the last 12 months has changed working practices and consider what can be done to push mental health to the fore.”

Full findings can be viewed HERE.