As Movember shines a spotlight on men's health, many workplace conversations focus on physical health checks, mental health awareness, or encouraging men to seek help when they're struggling.
These conversations matter. But there is another challenge affecting thousands of Australian men that receives far less attention. It sits quietly behind conversations about wellbeing, engagement, productivity and even workplace safety.
It's financial stress. And increasingly, the evidence suggests it cannot be separated from men's mental health.
Financial stress: the pressure nobody sees
It's 6:00am and Michael is already awake. Before the workday begins, he's calculating mortgage repayments, reviewing household bills and wondering whether the next interest rate rise or unexpected expense will push things even tighter. He has children approaching high school, ageing parents who occasionally need support and a growing sense that despite working hard, financial security feels further away than it once did.
By 8:30am he is at work. His colleagues see a reliable manager. His team sees a leader. His organisation sees a productive employee who consistently delivers results. What they don't see is the mental load he has already carried before opening his laptop.
Michael's story is not unique.
Across Australia, many men continue to show up every day carrying pressures that nobody sees. They attend meetings, lead teams, serve customers and meet deadlines while privately managing financial uncertainty, poor sleep, burnout and declining mental wellbeing. For employers, understanding this hidden burden has become increasingly important.
What male employees are telling us
Gallagher's 2026 Workforce Trends Report included almost 1,700 male respondents, representing 47% of the total survey population and providing a significant lens into the experiences of working men across Australia.
While financial pressure emerged as a challenge across all demographics, the findings take on additional significance when viewed through a men's health lens.
The research found that 55% of male employees in Australia are financially unwell. More than six in ten report losing sleep because of financial stress. One in three have taken on a second job, while 28% say financial concerns distract them at work. At the same time, close to one in four report experiencing burnout.
Viewed individually, these statistics are concerning. Viewed together, they tell a broader story. Many employees are simultaneously navigating rising living costs, reduced recovery time, higher workloads and declining wellbeing. For men who often feel responsible for providing financial stability for themselves and their families, those pressures can quietly compound over time.
Financial stress is often discussed as an economic issue. For many men, it is equally a health issue.
The connection between financial wellbeing and mental health
The relationship between financial stress and mental wellbeing is not merely anecdotal. Research from the Australian longitudinal Ten to Men study found that financial stress increases men's risk of mental health problems by 53%. Equally concerning, men experiencing moderate to severe depression become significantly more likely to experience financial stress later, highlighting a powerful two-way relationship between financial wellbeing and mental health.1
This finding helps explain what many employers are already observing in their workplaces. Financial pressure affects sleep. Poor sleep affects concentration, resilience and emotional regulation. Reduced resilience increases the likelihood of fatigue and burnout. Burnout can affect workplace performance, relationships and overall wellbeing. The resulting consequences can then create further financial strain, reinforcing the cycle.
When viewed together, Gallagher's Workforce Trends data and the Ten to Men research paint a compelling picture. Financial wellbeing and mental wellbeing can no longer be treated as separate workforce challenges. They are deeply interconnected.
Why men can be particularly vulnerable
While financial and mental health challenges affect people of all backgrounds, many men continue to face unique social and cultural expectations.
Traditional ideas around being the provider, remaining self-reliant and solving problems independently continue to influence how many men respond to stress. Although attitudes towards men's health have evolved significantly, many men still feel a responsibility to carry financial and emotional burdens on their own.
These expectations can create barriers to seeking support. Rather than discussing financial difficulties, some men absorb the pressure silently. Rather than accessing available resources, they may work longer hours, take on additional employment or simply push through in the hope that circumstances improve.
Over time, that approach can come at a cost. According to the Australian Institute of Health and Welfare, men are disproportionately affected by suicide, injuries, substance use and a range of chronic health conditions.2 These factors contribute to a greater burden of disease and earlier mortality compared with women.
Research from the Australian Institute of Family Studies' Ten to Men study also highlights that suicide remains one of the leading causes of disease burden among Australian males and that men account for more than three-quarters of suicide deaths nationally.3
These statistics reinforce an uncomfortable reality: many of the challenges affecting men's health become visible only after they have reached a crisis point. The opportunity for employers is to recognise and respond to the warning signs much earlier.
Why employers should care about men's health
There can be a tendency to view men's health as a personal issue. In reality, it has significant implications for workforce performance, organisational resilience and risk management.
When employees are distracted by financial concerns, struggling with poor sleep or experiencing declining mental wellbeing, organisations experience the consequences through lower productivity, increased absenteeism, presenteeism, disengagement and higher turnover. Gallagher's Workforce Trends research identifies clear links between financial wellbeing, productivity, engagement and retention, suggesting that employee wellbeing and business performance are more connected than many organisations realise.
For organisations operating in sectors such as construction, mining, transport, manufacturing and healthcare, the implications may be even greater. Fatigue, distraction and psychological strain can influence concentration, decision-making and safety outcomes.
At a time when organisations are increasingly focused on psychosocial hazards, mental health and psychological injury prevention, financial stress should not be overlooked as a contributing factor.
Employers cannot solve the cost-of-living crisis. They can, however, influence the level of support available to employees navigating it. The organisations that recognise and respond to wellbeing risks early are more likely to maintain workforce capability, resilience and performance over the long term.
From a business perspective, men's health is not simply a wellbeing conversation. It is increasingly a workforce capability, productivity and risk conversation.
Benefits matter more than ever
One of the strongest messages emerging from Gallagher's Workforce Trends research is that employees are looking for greater support in managing both their financial and personal wellbeing.
Importantly, employees do not experience benefits as products. They experience them through life events.
The employee worried about mounting debt values access to practical financial education. The employee losing sleep over household finances benefits from financial coaching and guidance. The employee experiencing anxiety may need timely access to counselling through an Employee Assistance Program. The employee concerned about protecting their family's future may find reassurance through life insurance, salary continuance insurance and broader financial wellbeing support.
When viewed through this lens, benefits become far more than a collection of programs. They become mechanisms that help employees navigate some of life's most challenging moments before those challenges evolve into larger health, performance or financial issues.
For men's health, this distinction matters. Many of the pressures affecting men originate outside the workplace but inevitably influence what happens inside it. The organisations making the greatest impact are those that recognise this connection and provide meaningful support before individuals reach breaking point.
Employee benefits should not be viewed as perks. They should be viewed as strategic investments in workforce resilience.
Effective employee benefit strategy
Movember provides an ideal opportunity for organisations to move beyond awareness and create meaningful change.
- Consider the broader strategy: The most effective organisations are approaching men's health as part of a broader workforce strategy rather than treating it as a standalone initiative. They recognise the relationship between financial wellbeing, mental wellbeing, leadership capability and organisational culture.
- Provide education and access: Providing access to financial education, budgeting support, financial coaching and retirement planning can also help employees build confidence and resilience during periods of economic uncertainty.
- Destigmatise mental and financial health: Practical actions may include normalising conversations about financial wellbeing and mental health, equipping leaders to identify early signs of distress, ensuring Employee Assistance Programs are visible and accessible, and integrating financial wellbeing into broader wellbeing and workforce risk strategies. Equally important is creating a culture where asking for help is viewed as a strength rather than a weakness.
According to Healthdirect Australia, recognising mental health concerns early and encouraging help-seeking behaviour can significantly improve outcomes. Mental wellbeing should be treated as an essential component of overall health rather than something addressed only during times of crisis.4
Similarly, the Australian Men's Health Forum continues to advocate for greater awareness, prevention and earlier intervention to improve health outcomes for Australian men.5
The lesson for employers is clear. Waiting until an employee is visibly struggling is often waiting too long.
Looking beyond Movember
Movember has played an important role in changing Australia's conversation around men's health. It has helped reduce stigma, encourage dialogue and bring important issues into the public spotlight.
The next step is recognising that many of the pressures affecting men's wellbeing begin long before a health issue, workers' compensation claim or mental health crisis emerges.
Financial pressure, poor sleep, burnout and mental strain are increasingly interconnected. Gallagher's Workforce Trends research highlights how widespread these pressures have become, while broader men's health research helps explain why they can be particularly significant for men.
For employers, this represents both a challenge and an opportunity. Organisations that recognise the relationship between financial wellbeing, mental health and workforce performance will be better positioned to build healthier workforces, stronger cultures and more sustainable business outcomes.
Behind every workforce statistic is a person. And behind many of those statistics is a man carrying more than those around him realise.
The organisations that understand this connection, and respond proactively, will be better positioned to create workplaces where people can thrive rather than simply cope.
Because the question for employers is not whether men in their workforce are experiencing financial or mental strain. The question is whether the signs are being recognised early enough to make a difference.
How Gallagher can help
Enabling your people to be better, means your business can start achieving its best. We specialise in maintaining the critical link between people's wellbeing and organisational success through people strategies that deliver results. When employees enjoy their work, appreciate their benefits and feel connected, your organisation thrives — boosting positivity, retention, performance and overall prosperity.
We can help you invest in and sustain a workplace culture offering growth and potential, bringing informed data, analysis and insights to help you anticipate and stay ahead of workforce trends and risks and achieve the outcomes that matter most. Connect with us today.
