What's Happening?
A new report highlights the deepening mental health crisis among Americans, emphasizing the need for employers to move beyond awareness and take concrete action. Mercer’s Health on Demand research reveals
that nearly half of surveyed individuals are dealing with stress related to finances or job security, exacerbated by rapid AI advances and tech disruptions. The report underscores the significant business impacts of employee stress, with depression and anxiety costing the global economy $1 trillion annually in lost productivity. Employers are encouraged to adopt a holistic approach to employee wellbeing, addressing both physical and mental health, and to expand behavioral healthcare access as a critical business strategy.
Why It's Important?
The mental health crisis poses a significant risk to workforce health and productivity, impacting business operations and employee retention. As mental health becomes a critical factor in driving up global health costs, employers must prioritize holistic employee wellbeing to mitigate these effects. By expanding mental healthcare access and offering targeted, on-demand benefits, organizations can address the diverse needs of their workforce, reduce turnover, burnout, and absenteeism, and improve overall employee engagement and retention. This strategic approach is essential for maintaining a healthy and productive workforce in the face of ongoing challenges.
What's Next?
Employers are expected to reevaluate their Employee Assistance Program (EAP) services to ensure they reflect current priorities and resources. Training managers to recognize and support struggling employees will be crucial in fostering a supportive work environment. Organizations may leverage mental health data from medical providers to identify trends and tailor benefits that meet workforce needs. As more employers recognize the importance of mental health support, expanding access to behavioral healthcare will become a key business strategy over the next three to five years.
