How having a healthy workplace can benefit everyone

As employers think about the future of work, it’s clear the topic of employee mental health is becoming a business imperative, especially in the wake of COVID-19 and its unprecedented stressors. According to the World Health Organization, in the first year of the pandemic, global prevalence of anxiety and depression increased by 25%.

As a result, Americans are looking for help, and many are expecting their employer to provide the mental health benefit offerings they need. For example, industry research shows that more than three-quarters of employees (76%) believe their employer has a responsibility in ensuring they are mentally healthy and emotionally well. Therefore, with mental health top of mind for employees, there are opportunities for employers to consider as they rethink their mental health offerings.

The benefits can benefit everyone

Many core workplace benefits (e.g., medical, dental and vision) have traditionally focused on an employee’s physical health, but in today’s competitive job market, creating a culture and environment where employees can get the mental health support they need can be a differentiator. Not only is it the right thing to do, but it may even help with employee productivity, attendance and retention.

Financial stress and money worries can also severely impact mental health, according to a 2022 PWC Financial Wellness study. When compared with all other employees, those who indicated their money worries have impacted their mental health were seven times more likely to say that financial stress impacted their attendance at work, six times more likely to say it impacted their productivity at work and twice as likely to look for a new job.

Similarly, according to new research from Voya, nearly 6 in 10 (57%) Americans strongly or somewhat agree that their financial stability has a direct impact on their mental health. This can have a serious impact on a company’s ability to deliver on its business goals and serve its customers — having workplace offerings in place that support both the physical and mental wellbeing of employees can be critical to benefiting everyone.

Mental health offerings can have a lasting impact

In response to an increase in demand for mental health support, many employers have adjusted their workplace benefits accordingly. A 2022 survey conducted by Forrester Consulting revealed that 84% of employers plan to increase or enhance employee mental health benefits in 2023. However, despite being well intentioned, there appears to be a bit of a disconnect between how employers and employees view their mental health offerings.

According to the same Forrester survey, 74% of employees indicated that they want their employer to care about their mental health, but only half (53%) of employees feel their employers actually do — a 21-point gap. Unfortunately, both these numbers have dropped from 2021, when 87% of employees wanted their employer to care about their mental health, but only 66% felt their employer actually did care — maintaining this 21-point gap. Therefore, it’s important for employers to establish a culture of listening and develop comprehensive programs to create a formal feedback process to help your mental health benefits hit the mark.

Employees seek support from their employers

In addition to helping your employees stay healthy, productive and engaged, providing mental health offerings that your employees value can provide a competitive edge in attracting and retaining talent as well. For example, Voya research has found that half (50%) of employed Americans are likely to stay with their current employer if they offered mental health benefits or resources (such as mindfulness, meditation, mental health coaches/therapists, etc.).

The demand from today’s workforce is also becoming increasingly apparent as more than half (56%) of employed individuals strongly or somewhat agree that their employer has a responsibility in ensuring they are mentally healthy and emotionally well. Therefore, many employees consider these resources beneficial and important as the focus on mental health remains top of mind. So much so that nearly half (48%) of employed Americans strongly or somewhat agree that they would select a workplace benefit that provides more mental health support and resources if offered to them by their employer, even if it costs them more.

Furthermore, to providing greater flexibility, it’s important that employers invest in mental health resources by starting, continuing or expanding their workplace benefits. For example, Voya recently increased the counseling sessions offered to its employees from five to 10 as part of our Employee Assistance Program (EAP). There are also opportunities to frequently and simply communicate to your employees to help combat the stigma — and it doesn’t have to be complex. Offering solutions like tips for helping with burnout, acknowledging “awareness months” or providing counseling support are all areas to consider.

Related: 4 key elements for promoting workplace wellness

Starting a clear path to mental health needs to be modeled, enabled and reinforced repeatedly to employees to help remove any perceived stigma they might have. This includes encouraging leaders in your organization to be role models for this behavior. And as employers, recognizing that mental health benefits are an integral part of employee needs and a productive workplace culture, it is important to embrace them as having a healthy workplace — both physically and mentally — can benefit everyone.

Rob Grubka, CEO Workplace Solutions, Voya Financial