A third of UK employers think that high employee stress levels are a direct consequence of their staff not having enough savings, including pensions.
Money worries were considered to blame for health problems and absenteeism by some in the survey into finance and workers' wellbeing carried out by Close Brothers Business Barometer.
However, half of SMEs claimed to have the introduction of a financial education programme in their plans for the next three years.
The survey of 900 UK employers found that 34 per cent of UK employers believe high employee stress is related to financial concerns.
It found 25% have seen employee health issues arise due to money worries, and 14% have seen higher absenteeism for the same reason.
Only 17% of employers think that poor financial management by their staff has no impact on their business.
Despite this, nearly half of UK businesses (47%) do not offer financial education to staff or plan to do so.
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One in five businesses provide financial education to their workforce, and of those, 14% describe the service they offer as "limited".
Jeanette Makings, of Close Brothers, said: “It’s clear that employees are not saving enough, nor are they saving in the most effective way.
"This is true for both short and longer term financial planning including pensions.
"Employers are perfectly placed to help their workforce become more confident and competent in financial decision making, in turn having a direct impact on their financial, physical, and emotional wellbeing.
"Those who receive financial education find it useful in guiding their immediate, medium, and long-term saving decisions.
"This then frees up employees at work to be happier, healthier, and more productive."
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