The U.S. is suffering from a stress epidemic quite unlike any other, with recent studies showing that more than ¾’s of the population suffer on a regular basis from stress related to work.
Resulting in both mental and physical illness – or at the very least, exacerbating existing mental and physical health conditions – work-related stress can not only cause immense suffering for the individual, but for employers and entire companies, also. Stressed out employees typically aren’t as productive in their roles, and often struggle to work well as part of a team. For employers, this is of course bad news, and with mental health and stress related conditions taking up to as much as 8% of spending nationally on healthcare, it’s a financial headache, as well.
With this in mind, many employers now invest in the mental health and wellbeing of their workforces, both to reduce their costs overall, and help boost employee morale. Many more employees are asking for better benefits related to mental health, too, including stress, anxiety, burnout and a range of other issues.
But what are mental health benefits exactly?
Health insurance plans that are more comprehensive in nature and include therapy or counseling, are great for helping employees overcome work-related stress and other concerns. While EAPs, or an Employee Assistance Program, is a service that provides employees with general help and guidance for a range of problems, whether it be related to their finances, mental well being or conflicts outside of the workplace.
Should you offer your employees mental health benefits?
Offering mental health benefits to your employees can give them the additional support they need to fulfil their role more successfully, and in turn, help your business become more profitable.
If you’re still undecided as to whether to add this to your existing employee healthcare package, check out the following advantages of doing so below:
- It can help improve the overall health of employees
A healthy workforce, both mentally and physically, is generally a happy workforce, and what are happy employees, typically? A lot more productive! Not only that, but by investing in the mental wellbeing of your employees, you can help them be less susceptible to such physical conditions as heart disease and cancer, for example, and reduce the potential cost of long-term healthcare.
- It can put a stop to burnout
Seriously detrimental to a workforce, burnout is experienced by more than 70% of employees throughout the U.S., and often leads to high rates of employee turnover coupled with absenteeism; costing employers thousands of dollars a year. Mental health benefits can help employees deal with burnout, and help you retain your workforce and reduce absenteeism, among other advantages.
- It can boost productivity
Stress and mental illness can quickly make employees less productive, which can go on to cost businesses big. By helping employees learn to cope with stress and other work-related issues, they in turn will likely become more valuable workers, who communicate better, and ultimately, work harder for your company.
While offering mental health benefits to your employees has a plethora of advantages, it’s important to understand that without a healthy company culture, such healthcare packages are worthless. Ensure that your company culture is structured around the wellbeing of your employees, and you’ll find that any mental health concerns become easier to address.