Monday, April 15, 2024
4 Ways to Support Employee Mental Health and Wellbeing. Employers should be proactive and create support systems to enhance overall organizational success.
Employers play a significant role in shaping the mental well-being of their employees. Recognizing and addressing mental health challenges not only benefits individuals but also contributes to the company’s overall success. A University of California, Riverside study found that organizations that invested in physical and emotional well-being saw a 5% increase in productivity.
Prioritizing employee mental health fosters healthier and more productive work environments.
In their 2024 Voice of the Workplace Report, mental health and wellness app Calm highlighted 4 key mental health trends that are shaping modern workplaces.
Here’s what to know about employee mental health at work — plus, how you can better support employees who may be struggling.
1. Consider financial wellness benefits to target a top threat to employee mental health.
Around 59% of employees grapple with heightened feelings of anxiousness and worry regarding their financial futures, according to Calm. Around 71% of employees report that financial stress adversely impacts both their professional and personal lives. Another 62% have scaled back their contributions to both their short- and long-term savings as a result of this financial strain.
As a response to these financial pressures, 52% of employees express a desire for access to a financial advisor directly through their workplace, according to a study conducted by Morgan Stanley. Furthermore, 48% of employees seek goals-based retirement investment planning from their employer, while 46% are eager for retirement planning tools and calculators.
By offering comprehensive financial wellness benefits, ensuring transparent communication about the services available, and providing ongoing education about these benefits to promote their utilization, employers can effectively address the challenges associated with employee financial stress.
2. Monitor technology burnout to safeguard employee mental health
In recent years, technological innovations such as AI, project management software and messaging and video apps have become integral to many workplaces. While these programs offer numerous benefits including heightened efficiency and increased flexibility, they also blur the boundaries between professional and personal life, exacerbating burnout among employees.
The pressure to remain constantly connected to the workplace, even beyond regular working hours, is increasing. Around 58% of employees report they are always available to work and 46% often extend their work into non-office hours, according to Calm data.
In light of the swiftly evolving technological landscape, it’s imperative to foster increased communication between employers and employees. Employers must establish clear guidelines regarding technology usage to safeguard employees’ well-being. This could entail disabling app notifications during non-working hours, promoting micro breaks throughout the day and granting employees the flexibility to decline meetings when necessary.
Employers can further support their workforce by implementing mechanisms to gauge and monitor employee well-being, such as quarterly pulse surveys that inquire about workloads and work-life balance. To aid employees in managing stress and anxiety on a day-to-day basis, employers might consider proactive resources like Employee Assistance Programs (EAPs) that ensure employees are well-informed about their benefits options.
Female employees consistently report higher levels of exhaustion and poorer mental and spiritual health compared to their male counterparts. They confront a multitude of unique challenges, spanning societal expectations, gender biases and structural discrimination, all of which can compound the strain on their overall well-being.
These experiences have considerable potential to erode women’s mental health. An overwhelming 90% of women identify family planning challenges as all-encompassing, profoundly impacting their mental well-being and ability to concentrate at work.
Many employees report an overall lack of support in the workplace concerning women’s reproductive health, with menopause, in particular, emerging as the least-discussed topic.
In recent years, there has been a noticeable uptick in employer attention towards family-forming benefits and the need for support felt by parents. By providing enhanced support for caregivers, employers can effectively mitigate exhaustion, retain valuable talent, and bolster overall business performance.
Furthermore, it’s imperative to acknowledge the disproportionate impact of workplace flexibility on women’s mental and spiritual well-being, as well as their exhaustion levels. Increasing flexibility measures, such as enabling remote work and granting more autonomy over schedules, can help support women’s holistic health.
Recognizing that women have diverse health needs extending beyond reproductive concerns, employers can explore avenues to offer comprehensive health and wellness benefits, fostering an environment where women feel empowered to vocalize their health-related needs.
4. Increase transparency and community to alleviate Gen Z’s mental health concerns.
Gen Z (which generally encompasses workers born between 1997 and 2012) is the generation grappling with the highest levels of stress and anxiety. When surveyed, nearly 75% of Gen Z workers reported feelings of sadness or depression, according to Calm. Moreover, Gen Z stands out as the loneliest generation, stressed about heightened career uncertainty, the escalating cost of living, financial instability and being overworked.
However, Gen Z also distinguishes itself by being 60% more inclined than other generations to advocate for accessible mental health support; over 75% actively push for a stronger emphasis on workplace benefits. As the first digitally native cohort, prioritizing transparency and fostering open access through two-way dialogues can empower Gen Z individuals to feel more in control.
Recognizing Gen Z’s inclination towards purpose-driven endeavors, outlining the significance of individual contributions and offering specific, constructive feedback underscore investment in their growth. Establishing a sense of community through opportunities for both in-person and remote meetings fosters a supportive environment. Employers can also implement measures such as mental health days and initiatives like Employee Resource Groups (ERGs) to champion wellness.
Employee mental health is an ongoing conversation and evolution. It’s critical to recognize these trends and take steps toward mental health advocacy to help not only individual employees but the workplace as a whole.
Best Money Moves is a mobile-first financial wellness solution designed to help dial down employees’ most top-of-mind financial stresses. As an easy-to-use financial well-being solution, Best Money Moves offers comprehensive support toward any money-related goal. With 1:1 money coaching, budgeting tools and other resources, our AI platform is designed to help improve employee financial well-being.
Whether it be retirement planning or securing a mortgage, Best Money Moves can guide employees through the most difficult financial times and topics. We have robust benefits options for employers, regardless of their benefits budget.
Our dedicated resources, partner offerings and 1000+ article library make Best Money Moves a leading benefit in bettering employee financial wellness.
To learn more about Best Money Moves Financial Wellness Platform, let’s schedule a call. Contact us and we’ll reach out to you soon.
Ilyce R. Glink, Founder+CEO
O: 847-242-0550x100
C: 312-933-3450
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