Employees are more stressed out than ever.
Worry, sadness and stress among workers is at a record high. This overwhelm is impacting every aspect of their lives, including doing their jobs.
According to the World Health Organization, depression and anxiety disorders cost the global economy $1 trillion each year and are predicted to hit $16 trillion by 2030.
That includes medical costs for treatment and mental health care, but also the cost of employees calling out sick, not being productive while on the clock and training new employees to replace ones who burn out or don’t feel supported.
Investing in mental health is obviously good for employees personally, but here are three reasons it’s also good for your organization's bottom line. According to the Made of Millions Foundation, every dollar put toward mental health promotion has returned three to five dollars for companies.
Happy workers make you more money. Here’s how:
1. Attract and retain top talent
Employees want to work for someone who cares. They want to feel supported and comfortable talking about mental health issues that may come up.
They also want an employer who leads by example and provides accessible resources, transparency and accountability. Investing in mental health will show both current and prospective employees the efforts you’ve made to take care of them making them less likely to leave. Training new employees is expensive, retaining talent means you’ll spend less money in the long run by keeping the employees you already have happy.
2. Higher levels of productivity + better customer service
Depression, anxiety and stress make it much more difficult for employees to focus. A project that could take two hours may take five or six when an employee’s mind is wandering or worrying. When you give them the tools to deal with their mental health, you open up time for them to focus on their jobs, thus increasing productivity.
This could be as simple as adding a “free hour” per week where they can see a therapist, workout, meditate or participate in your company’s wellness plan.
Promoting work-life balance will also allow employees to “turn on” and “turn off” which will allow for better costumer service. When employees are “on” they are focused, ready to work and happy to be there. When they’re “off” they can enjoy their personal time and not be worried about their jobs.
3. Spend less on medical costs
So far we’ve discussed the indirect cost of not investing in employee mental health.
There’s also, of course, the obvious costs. Health insurance contributions and pharmacy expenses, combined with treatment for long-term disabilities cost a ton of money. These are only made greater when the root of the problem isn’t addressed.
By getting ahead of and creating a plan for mental health among your workforce, you’ll see these expenses lessen.
Investing in mental health is just smart business. Encouraging work-life balance and creating a culture that supports, motivates and cares for employees is more important than ever.
Interested in creating a mental wellness plan? We can help.
We’ve cultivated a large network of experts who have helped us create innovative, productive and engaging wellness offerings. Each session is valuable on it’s own, but can also be combined to create a holistic approach to mental health and wellness. More than 75% of participants say they would recommend our workshops to their colleagues.
Here’s what a few of our clients have to say:
“There has not been a session I have attended that I have not loved. I am bummed when I can’t make a session. Your sessions have really helped me grow in many areas of my life! Keep up the great work!”
“Every class has been fun, innovative and has always offered new or enlightening information. Very much enjoy the interaction. Loved the early morning Yoga, the meditations as well as the monthly challenges.”
“LOVE the energy you put into us! Your team always comes out with something new each month and it makes the work place so much better! Thank you!”
Contact us today to see how we can support you, your tenants and their employees.