Mental health benefits have become a top priority for employees. But, offering mental health support does more than just help you attract top talent. It can help you increase efficiency, reduce errors, and retain your best team members. Let's explore the impact and how to get started.
Mental health after the pandemic
As the world begins to return to “normal” following the pandemic some four years later many issues from the pandemic still linger. One of the biggest takeaways from the last four years is that employers must recognize that their workforce needs assistance as they deal with stress, anxiety, depression, burnout, and other serious challenges.
Globally, an estimated 12 billion working days are lost every year to depression and anxiety at a cost of US$ 1 trillion per year in lost productivity. (World Health Organization). People are reflecting now more than ever on what matters in life and if their employer does not provide the necessary support system, workers are simply moving on to other jobs.
92% of American workers stated that working for an employer who cares about their mental health is very to somewhat important
Organizations across all industries must understand that this shift in the employee mindset is here to stay and they must either adapt and say goodbye to the status quo or they will find themselves constantly trying to replace their staff.
The impact of mental health in the office
Poor mental health and stress can negatively affect an employee in several ways. Some of the most common is decreased performance and productivity, engagement at work, communication, and a reduction in daily functioning and physical capability.
Mental illnesses such as depression are even associated with higher rates of disability and unemployment. Another survey found that the most common resources that employees wanted were a more open and accepting culture, clearer information about where to go, or whom to ask for support, and training. While countries like Canada, Australia, and the United Kingdom have made significant strides toward awareness and support for mental health in the workplace, the U.S. is only just beginning. With that in mind, there is limited research on the stigma and prevalence of mental health challenges in the workplace setting. Frequency is often measured either through diagnoseable conditions or general stress levels, which does not fully capture the extent of the mental health experience.
7 key insights on work-force mental health
The employee mental health crisis is getting worse.
Most employers are starting to prioritize workforce mental health.
Employers can break down barriers to care.
Employers overestimate their benefits’ ability to effectively address workers’ mental health challenges.
For employees, comprehensive mental health benefits are fast becoming a requirement—not a perk.
Working caregivers bear a heavier mental health burden— and need more support.
Workforce mental health requires an open, supportive culture.
31% of workers surveyed said their mental health has declined over the past year
A powerful new tool for employees AND employers
So, what can businesses and managers do to help their employees take care of their mental health today? And, just as importantly, how can they do it in a way that is affordable?
After seeing the gap in the market and the need for our clients, the Southern Benefits Group created our standalone EAP and other innovative programs that would allow companies to offer easy-to-access mental health benefits, while saving money for the business AND the employees.
This puts businesses in a position to compete with larger companies when it comes to employee benefits so they can attract and retain the best talent, and gives their employees the mental health support they need to be their best selves at home and at work.
We've also created our programs to be easy to implement so that the benefits can be seen right away, reducing the workload for the HR and leadership team.
Now what?
There is no denying that companies need to take action and provide the assistance that their employees need. Our unique programs allow them to do that flexible solutions that support their team, reduce costs, and compete with larger companies for the best talent.
Ready to help your employees AND save money for YOUR business? Give us a call. We'd love to help.
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