News: Growing employee mental health needs to pose financial challenges for employers: Report

Corporate Wellness Programs

Growing employee mental health needs to pose financial challenges for employers: Report

As the world continues its journey of recovery from the pandemic, it is of utmost importance for employers to prioritise mental health assistance and resources for their workforce.
Growing employee mental health needs to pose financial challenges for employers: Report

About 77% of major employers saw a rise in the mental health needs of their employees, reflecting a substantial increase of 33 percentage points compared to the previous year. 

The 2024 Large Employer Health Care Survey conducted by the Business Group on Health unveiled that major employers observed an escalation in the mental health requirements of their employees. This marks a considerable increase from the previous year when merely 44% of employers indicated a growth in their employees' mental health needs.

The feelings of isolation and loneliness that individuals endured throughout the pandemic have had a profound impact on their mental well-being. As a result, employers are currently contending with the aftermath of these effects. 

The notable rise in mental health requirements has resulted in heightened expenses for employers, who are now confronted with the task of furnishing appropriate assistance and resources to cater to their employees' needs.

The escalating need for mental health services is impacting not only employers and first responders but also families who have experienced the loss of loved ones due to suicide. 

An article from KFF Health News shared the account of Deborah and Warren Blum, who suffered the heartbreaking loss of their 16-year-old child to suicide. In a departure from the conventional reluctance to discuss suicide in obituaries, Deborah Blum candidly addressed her child's mental health challenges in the notice of death. 

The mounting mental health requirements of employees and the related financial implications have become an urgent issue for major employers. As the nation navigates its recovery from the pandemic, it becomes imperative for employers to place significant emphasis on providing mental health assistance and resources to their workforce. 

By recognising and proactively tending to these needs, employers can play a pivotal role in enhancing the overall well-being and productivity of their employees.

Read full story

Topics: Corporate Wellness Programs, #HRTech, #HRCommunity, #Wellbeing, #MentalHealth

Did you find this story helpful?

Author

QUICK POLL

How do you envision AI transforming your work?

Your opinion matters: Tell us how we're doing this quarter!

01
10
Selected Score :