Investing in Employee Mental Health For Engagement And Returns

Now may be the most important time to be investing in the mental health of your team, for the benefit of not just your staff but yourself as a manager and your organisation as a whole. He’s a very small window into what’s happening in the world of workplace mental health:

81% of prospective employees are looking for workplaces that offer mental health benefits
Surveys are showing that 4 out of 5 employees believe mental health benefits are just as significant as physical health benefits
1 in 6 people experience mental health problems in the workplace
1 in 3 employees feel that mental health support in their workplace is inadequate and would like further support
48% of employees reported their mental health declining in 2022, a trend expected to continue
60% of employees have reported feeling emotionally detached at work
Happy employees are 13% more productive on average
61% of employees (UK-based) report leaving or planning to leave their workplace in the coming year due to poor mental health

With mental health having a profound impact on employees in the workplace, it is clear that investing in employee mental health in the right ways can equally have a profound impact on a company in a range of ways.

Mental health initiatives help with the employee engagement problem

Rising interest rates, a higher cost of living, and greater pressure on individuals and families – these are just some of the widespread pressures on employees alongside a variety of other personal and professional factors. Cumulatively, these stressors can easily leave employees with more distractions and concerns at work, and less overall engagement. Yet businesses want (and realistically, need) engaged employees given their elevated level of emotional commitment to their work and the success of their organisation. Engaged employees are those who tend to be more willing to go beyond their job requirements, collaborate effectively with colleagues and have a longer tenure with the company. This last point on tenure is particularly important, especially given the soaring costs of new staff acquisition and the current struggle most companies are having when it comes to attracting and retaining the right talent.

Prioritising mental health through additional avenues creates a work environment where employees feel better supported and valued. This is where companies offering mental health resources that go above the “norm” have the opportunity to support and improve employee engagement, and this is a key area that HealthNow is currently operating in with almost all of our onboarded companies allowing for the use of HealthNow funds towards the mental health service categories. This means that they’re enabling their employees to use their HealthNow funds to better their mental health in the way they want and need to, at the time they need it. This is also where many are choosing to take proactive measures for their mental health, instead of uptaking it “at the bottom of the cliff”, further supporting reductions in absenteeism and presenteeism.

The benefits of employee mental health investment are widespread

Alongside employee engagement, companies that are registered with HealthNow are seeing widespread benefits for both their team and themselves.

Actively prioritising mental health helps to remove the stigma from it, creating an environment where employees feel more comfortable discussing any concerns and seeking assistance when needed. This emphasis fosters a sense of trust, camaraderie, and belonging, contributing to enhanced workplace morale.
Employees who are being held back by mental health concerns may impact sales. With up to 70% of a customer’s buying experience being influenced by their perception of how they were treated, employees who are content with their mental health are best prepared to support sales and business in general.
A positive culture of mental health support is linked to a reduced turnover rate, with companies encouraging regular employee feedback experiencing a 14.9% decrease in turnover on average.
A mentally healthy workforce is more likely to exhibit enhanced creativity and innovation. Employees in a positive state of mind, supported by mental health initiatives, are better equipped to think outside the box, generate innovative ideas, and embrace new challenges.
Mental health directly influences an individual’s capacity to make sound judgments, resolve complex problems, and assume leadership roles. Prioritising employee well-being becomes an investment in cultivating resilience and robust leadership skills throughout the organisation.
Poor mental health is linked to greater absenteeism and sick days. One of the ways this can occur is by taking a toll on immune systems from stress, burnout and other factors. Here, investing in mental health helps support your team to be present, productive, and generating financial returns for your team.

HealthNow is currently collating data to be able to better manage the return on investment for the companies we partner with. While attaining key metrics on our impact on increased productivity, reduced absenteeism and presenteeism, improved employee retention rates and overall improved company culture pose some challenges due to the singularity of our role here, we continue to receive overwhelming interim feedback on the positive responses by teams and managers, alongside high utilisation rates of health services, including in mental health.

For more information about the benefits you stand to gain with HealthNow, see here.