Since the pandemic, many employers have made significant strides toward reducing stigma around discussing mental health in the workplace. Yet, a new report on the deepening mental health crisis among Americans highlights that raising awareness and discussion is just a first step in many employers need to take.
Mercer’s new Health on Demand research found that nearly half of those surveyed said they’re dealing with stress related to finances or job security, made worse by rapid AI advances and tech disruptions. A blog post related to the report highlights the critical business impacts of employee stress.
One of the post’s authors, Peter Rutigliano, Mercer’s behavioral health business leader, notes the World Health Organization estimates that depression and anxiety cost the global economy $1 trillion annually in lost productivity. What’s more, mental health is the second greatest risk factor driving up global health costs.
Rutigliano says that with mental health increasingly affecting workforce health and productivity, organizations should prioritize holistic employee wellbeing that addresses both physical and mental health.
“Leading employers are moving beyond awareness to take concrete action,” he says.
A holistic approach to employee wellbeing includes reevaluating EAP services to ensure they reflect today’s priorities and resources, while training managers to recognize and support struggling employees.
Rutigliano adds that the most strategic employers can leverage mental health data from medical providers to identify trends and tailor targeted, on-demand benefits that truly meet the diverse needs of their workforce.
It’s work that many employers are open to taking on: The survey found that 64% of large U.S. employers say expanding behavioral healthcare access is a very important or important business strategy over the next three to five years. Nearly half currently offer or plan to offer mental healthcare options beyond telehealth, including nearly one-third that do or will offer in-person counseling.
Action on mental health: It’s ‘essential’
Rutigliano says it’s clear employers can no longer treat mental health support as a “nice-to-have” benefit; it’s now “essential,” particularly as Mercer research finds that nearly half of employees globally are concerned about their physical, mental or cognitive health. About 45% feel stressed most days at work, which Mercer notes contributes to higher turnover, burnout and absenteeism.
And according to Mercer research from earlier this year, about a quarter of U.S. workers would consider leaving their current employers due to insufficient healthcare or wellbeing benefits.
Beyond benefits offerings, Rutigliano says, employers that foster connection, encourage recovery time and train managers to recognize and respond to signs of stress can see stronger engagement and retention.
“Small steps like promoting digital downtime, creating peer-support networks and communicating available benefits consistently can make a measurable difference in how employees feel and perform,” Rutigliano says.
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