Financial pressure rises for Australian workers as burnout climbs

Financial pressure is continuing to weigh on Australian workers, with new research pointing to growing stress and declining confidence in economic security.

The latest ELMO Employee Sentiment Index, based on a survey of more than 1,000 Australian employees, found that 40% do not earn enough to meet their financial needs. This is despite 72% saying they are fairly paid for their work.

Confidence in personal economic security has also fallen sharply over the past six months.

Financial stress reaches the workplace

The findings suggest financial pressure is increasingly affecting employees at work.

Burnout has risen from 39% to 44% in six months. The share of employees who have gone to work while feeling unwell has also increased.

It rose from 36% to 41%.

"The broader cost of living crisis is changing what financial security looks like for Australian workers. Pay matters, but so does certainty,” said Joseph Lyons, ELMO Software Presiden

With organisational stability now second only to remuneration when people choose an employer, there's a clear message for businesses: employees are looking for confidence in what comes next,” Lyons added.

The data also shows a gap between pay satisfaction and financial security.

While most employees believe they are fairly paid, many still struggle to cover their financial needs.

Job security concerns ease

Concern about redundancy has fallen despite the decline in economic confidence.

The proportion of workers worried about losing their jobs fell from 39% to 34%.

At the same time, confidence in personal economic security dropped from 37% to 28%.

The figures suggest workers may feel less concerned about immediate job loss while remaining uncertain about their broader financial position.

AI remains a source of optimism

Employees remain relatively positive about the impact of AI on their jobs.

Around 68% believe their skills are specialised and unlikely to be replaced by AI or automation.

Another 66% believe AI will help them in their current role.

However, 29% believe their role could be replaced within the next five years.

The findings point to a mixed view of AI. Workers see potential benefits, but some remain concerned about longer-term job security.

Workplace support comes under focus

Financial pressure can also affect employee wellbeing and performance.

"Employers can't influence inflation or interest rates, but they can influence how supported employees feel while living through economic uncertainty," said Dr Amantha Imber, organisational psychologist, AI consultant and ELMO partner.

"Financial pressure rarely stays at home. It influences energy, concentration, wellbeing and ultimately performance at work. Organisations that acknowledge that reality and invest in practical support are more likely to build resilient, engaged workforces."

Recognition remains relatively strong

Despite the financial pressures, employee sentiment towards employers remains broadly positive.

Three in four employees, or 75%, said they feel recognised for their contributions at work.

The findings suggest the issue is not necessarily workplace fairness.

Instead, broader affordability pressures are shaping how employees experience financial security, wellbeing and work.