Mental Health & Wellbeing: 2024 Benefit Strategies

Mental Wellbeing is taking center stage in 2024, providing one of the biggest opportunities for employers as the trend evolves. While absenteeism, presenteeism, quiet quitting, rust out, acting your wage, and employee turnover continue to grow as top concerns, employers must recognize that company success and productivity depends on the health and engagement of their workforce. Mental health is the backbone of what employers and employees need for a more supportive and nurturing work environment that prioritizes overall health and happiness. With the heightened focus on mental health support looking forward, employers should spend time thinking about what wellbeing means to them and how they can champion mental wellbeing with innovative strategies to better support their employees.

Annually, mental health conditions cost employers:

$100 BIL | 217 MIL

$100 billion in lost earnings and 217 million lost work days.
(National Association on Mental Illness , 2023)

7 in 10

7 in 10 employees say their mental health has stayed the same or worsened in the past year.
(
Calm Business, 2024)

61%

61% of employees have felt down, depressed, or hopeless recently.
(
Calm Business, 2024)

Mental Health Benefits

Mental Health Benefits will continue to be at the heart of what will establish companies as great places to work in 2024. They are not just a matter of corporate kindness, but a long-term business strategy. As employees’ mental health needs are getting more serious and complex, employers must make continuous efforts to address mental health challenges, stress, and burnout. By prioritizing mental health care and investing in healthier ways of working, employers can create supportive workplaces that foster deeper engagement, increased productivity, healthier employees, and enhanced wellbeing for the workplace overall.

Mental health services and behavioral health support can help employees that are struggling with PTSD, bipolar disorder, ADHD, severe or chronic depression, anxiety, and other mental health diagnoses that are impacting their overall well-being.

Lifestyle benefits expand the definition of mental health care by helping employees create healthier routines for their minds and bodies.

Therapy sessions, counseling, and psychiatric consultations can be provided by employers as part of health insurance plans for comprehensive mental health benefits.

24/7 support programs will become standard practices in a wellbeing-focused workplace. Theses valuable benefits that can provide employees with always-on support include virtual health coach offerings (for mental health, fitness, and nutrition coaching), virtual therapy, mental health hotlines, apps for meditation and mindfulness, and programs focused on building resilience and improving coping strategies.

Mental health training programs are designed to educate and support workplaces in handling mental health challenges. Managers and employees can learn how to identify, understand, and respond to warning signs of mental illnesses, behavioral issues, and substance use disorders. Training should include education on how to offer impactful resources to employees in need, direct employees to appropriate services, communicate access to care, learn mental health literacy, and empower workers to speak up and share their own struggles.

Mental Wellness Plan

Mental Wellness Plans should be dynamic (evolve based on feedback, changing needs, and best practices), involve employees, and continuously communicate the organization’s commitment to workplace wellness initiatives (specific to the needs and culture of the organization). A comprehensive and successful mental wellness plan often includes these elements:

  • Clear endorsement and visible support from leaders in management.
  • Mental health policies that destigmatize seeking help and outline procedures for sensitively and confidentially handling mental health issues.
  • Education for both employees and managers to raise awareness, reduce stigma, recognize signs, and offer guidance on providing support.
  • Mental health resources such as access to Employee Assistance Programs (EAPs), counseling services, stress management workshops, hotlines, and online mental health platforms.
  • Mechanisms to gather feedback from employees and periodically evaluate the effectiveness of mental health programs to make necessary adjustments.
  • Crisis response protocols to handle mental health crises or emergencies, including immediate support services or contacts.
  • Increased access to mental health services including more options for support, expanded mental health offerings, lower cost barriers to care, specialized mental health treatment from chosen vendors, and flexible work schedules that encourage employees to seek care during regular work hours.

What Additional Strategies Can Be Used to Improve Mental Wellbeing?

Company Culture is vital to every workplace, no matter the industry or size, because a culture of wellbeing is one of the driving forces behind high-performance talent retention. To ensure the workplace is supportive of mental wellness and not inadvertently toxic, employers must develop a company culture rooted in connection, learning, and trust.

  • Cultivate a non-toxic, inclusive culture of care with team-building activities, mentorship programs, self-help resources, career advancement opportunities, and leadership training.
  • Focus on practical, hands-on manager and supervisor training, as it is a critical part of a mental health strategy. Investing more in training and accountability measures will ensure that managers can become transformational leaders who are equipped with the skills needed to retain and engage employees. Training should focus on:
    • People management skills.
    • Empathy and emotional intelligence.
    • How to communicate about mental illness, create a safe environment for discussing the topic, and assist employees who seek help for any issues.
  • Build a psychologically safe and healthy work culture to meet the expectations of employees and help everyone in the workplace. If employers can create a comfortable space where employees feel safe discussing their ideas and raising potential concerns, employers will build more trust with staff and bring more transparency to the organization.
    • Afford mental health days.
    • Make workloads reasonable.
    • Consider the basic humanity of the worker.
    • Commit to using inclusive and non-stigmatizing language.
    • Encourage regular, open, and honest conversations for employees to manage and share valuable feedback on critical aspects of the work experience (such as what improvements and changes can be made to revamp company culture, create tighter internal bonds, and foster a better sense of belonging for all employees).

Positive Workplace Environments are a high priority for employees in 2024. By focusing on creating a transparent, empathetic, and safe workplace environment, employers can promote mental wellbeing and support development.

  • Address the issues of work overload, workplace violence, bullying, harassment, and poor managerial support to decrease the risks of psychological distress, burnout, and other debilitating employee issues. It is the employer’s responsibility to create work environments that support emotional wellbeing and prevent damaging work-related mental health challenges. Efforts to fix overwork culture (such as increasing visibility into team workflows) will create workplaces where employees feel more able to manage workloads and see a future for themselves within their organization.
  • Prioritize employees by taking time out of the day to offer up feedback, directions, expectations, gratitude, celebration, and recognition of big and small accomplishments. Recognize employees for who they are, not just the work they do. To suit the unique needs of each employee, take the holistic approach of asking every individual if they are happy in their position, how they can be helped, and what support they need from the company. Recognition helps to further a sense of trust and ensure that employees feel encouraged to do their best.
  • Proactively train employees and managers in psychologically safe work environments. Being psychologically safe means employees feel comfortable asking for help, sharing ideas, expressing concerns, taking risks, or admitting mistakes without fear of negative consequences. This will create happier employees and help retain high-performing workers, attract more talent, maintain worker engagement, boost productivity, and increase output. Employers can foster a psychologically safe work environment by:
    • Reflecting on leadership styles, accommodating dispersed employees, and demonstrating concern for employees.
    • Offering workshops and peer-led programs to cultivate a more supportive and stigma-free workplace for discussing mental health and wellbeing.
    • Providing a workplace environment where employees feel seen, heard, valued, cared for, and supported.
    • Raising awareness for psychological safety by allowing employees to feel secure in talking and being vulnerable in front of others.
    • Teaching supportive behaviors and practices that foster trust and transparency around health and wellness topics (such as burnout and stress).
    • Creating opportunities for open feedback and dialogue so employees can be themselves in the work environment.

Recovery-Friendly Workplaces (RFWs) allow employers to be proactive in increasing encouragement to seek treatment. Organizations should be prepared to provide support for workers who are struggling and facilitate opportunities for employees in recovery to enter, or re-enter, the workplace. RFWs play an important role in preventing and addressing SUD (including the opioid overdose crisis) by seeing SUD recovery as a strength to be celebrated instead of a weakness to be hidden and reducing the chance of injury and the subsequent use of opioids. Employers can use the DOL’s recovery-ready workplace toolkit for resources to assist in preventing and responding more effectively to employer substance misuse, as well as guidance for assessment, planning, implementation, and monitoring of RFWs.

Work-Life Balance is an important strategy to implement if employers want to support mental wellbeing by preventing and alleviating burnout. Toxic workplaces, long hours, understaffing, lack of recognition, interpersonal conflict, and unclear workplace policies are contributing to employee burnout. When employees have time for relationships, healthy behaviors, family, and themselves they are equally effective at work, set better examples, and feel less stress in the workplace. So, to help employees maintain a happier and healthier work-life balance, employers can offer:

  • Flexible work arrangements.
  • Realistic Workload Expectations.
  • Designated downtime.
  • Expanded employee assistance programs.
  • Open communication channels that allow employees to voice their concerns and see support as needed.

Financial Wellness Programs that include financial education, wellness resources, and support can help contribute to a more secure and stable workforce. Money and inflation are top stressors for employees this year, and the financial stress of debt can significantly impact their mental and emotional health, while also impacting workplace productivity, retention, and morale. Employers can help reduce employee financial stress by extending their wellness programs with financial support such as emergency savings, cashflow change navigation, debt management, proper health insurance and benefits, significant life event preparation, retirement savings, virtual personal financial planning meetings, tuition reimbursement, seminars, and EAPs to navigate financial challenges. Financial wellness is a critical component of mental wellbeing and can be a competitive offering.

Family-Building & Reproductive Health Benefits have proven to be highly valued among employees who are looking to start or build their families. These family-friendly benefits make employees feel welcomed and supported in the workplace, while improving engagement, productivity, retention, attendance, morale, and mental health. In the next year, many employers are expanding family-centric benefits to meet employee needs, remain competitive, and retain diverse, multigenerational talent.

  • Pregnancy loss/maternity leave demonstrates an employer’s compassion and understanding of the emotional and physical toll of such loss, offering individuals the time needed for healing and recovery.
  • NICU leave shows that an employer recognizes the unique challenges faced by parents with infants in neonatal intensive care, providing essential support during a critical period.
  • Pregnancy, lactation, postpartum, and menopause support allows companies to acknowledge and alleviate the often-overlooked health impacts of these conditions on female employees. Testosterone deficiency treatments can do the same for male employees.
  • Fertility benefits, adoption benefits, surrogacy benefits, family planning assistance, preconception planning, high-risk pregnancy care, and paid family/parental/adoption leave ease the financial burden of reproductive health journeys for all types of family structures.

Caregiver Support will help caregivers thrive in 2024. Care benefits include:

  • Paid time off.
  • Child or elder care stipends.
  • On-site childcare services.
  • Specialized support for special-needs children.
  • Flexible scheduling and remote or hybrid work options.
  • Leader training plays a key role in the overall success of a caregiving support system, empowering managers to feel prepared to meet the needs of their employees and provide support.
  • Caregiving platforms provide access to advocates who often offer community and expert emotional support when things feel overwhelming, help employees find back-up and emergency care for children and elderly family members, and raise overall awareness of the caregiving burden.
  • Working mother benefits can include pregnancy support groups, mentor programs, fully equipped nursing rooms, extended paid parental leave, transition back to work programs, and college savings plans.

Environmental, Social, and Governance (ESG) metrics can be used to measure mental wellness in the workplace so that organizations can improve their response to employee needs. Measurements can include:

  • Turnover date.
  • Recognition program engagement.
  • Absenteeism and presenteeism tracking (employees at work but not fully productive).
  • Evaluations of current wellness initiatives to find ways to improve them.
  • Quarterly employee satisfaction surveys (with questions related to mental health, the type of support needed in the workplace, the impact of culture on mental health, and the benefits that employees find most valuable and necessary for their overall wellbeing).

Holistic Highlight

Holistic Wellness is not just a trend, it’s a fundamental shift in how employers approach employee care. Adopting a holistic approach considers the entire employee and aims to create a work environment that nurtures every aspect of employee wellbeing to foster a sense of balance, resilience, and productivity. More holistic experiences will become crucial to attract the next generation of quality workers. If employers want to cut costs and focus on the attraction and retention of ideal talent, they must prioritize holistic employee wellness.

  • Introduce policies, perks, and programs that support the full spectrum of employee needs and focus on whole-employee health. Holistic wellness programs encompass nutrition, fitness, mental health, and stress management.
  • Create a supportive culture that encourages education, respect, open conversations, and utilization of available resources by providing mental and financial wellbeing benefits in health and wellness initiatives.
  • Offer thoughtful, family-focused solutions to provide working parents with a program they need to make life inside and outside of work successful. Such benefits create a supportive, inclusive environment where employees are valued as individuals holistically and can thrive both personally and professionally.
  • Align benefits with employee expectations. Benefits that provide a sense of caring allow employees to feel appreciated and are more likely to stay. In other words, happy and healthy employees are more satisfied, engaged, productive, and loyal. Expand benefit offerings to include:
    • More valuable insured coverage with enhanced access to care to support preventive care and routine medical needs.
    • Support services (behavioral health, stress management, counseling, coaching, virtual care, and telemedicine).
    • Reward programs and ongoing reminders of employer appreciation.

SOURCES: BenefitsPRO; Employee Benefit News; Zywave

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