Missed work days due to poor mental health cost the U.S. economy an estimated $48 billion in lost productivity annually. Employers recognize the issue – and its implications. The Hartford’s 2024 Future of Benefits Study finds that 69% of employers report employee mental health negatively impacts their company financially, up substantially from 48% in 2020.
Employers are uniquely positioned to improve the health of their employees. The Hartford’s research found 29% of employees report feeling depressed or anxious a few times per week, an increase from 20% in 2020. The number spikes to 45% among Gen Z workers.
Today, employees expect their employers to support their mental health. In fact, 60% of employees saying their company should be providing more mental health tools and resources.
“Responding to the mental health needs of employees, especially the next generation of workers, continues to be a critical business strategy for employers,” says Adele Spallone, head of clinical operations for Workers’ Compensation and Group Benefits at The Hartford. “Mental health is just as important as physical health. Prioritizing mental health at work not only helps with burnout or absenteeism but cultivates inclusion and fosters innovation, leading to long-term success.”
Brokers are in a pivotal position to help design benefits packages for their employer clients and share best practices to help employers foster a company culture that encourages and supports employee holistic wellness.
Recommending a strong benefits foundation
Brokers can recommend a solid benefits foundation of traditional benefits, including health, disability insurance (income protection benefits) and hospital indemnity insurance (hospital cash benefits). Employee Assistance Programs (EAP) are also a central component of an employer’s offering, providing access to valuable resources as employees need them, including in moments of crisis.
Building on that foundation, brokers can suggest digital apps aimed at mindfulness, meditation, or online therapy. Also, they can recommend the addition of educational and wellness programs that are designed to reduce financial stress, increase physical activity, or improve sleep quality while providing essential mental health benefits.
Brokers can help their employer clients view mental health benefits as a key element of their recruitment and retention initiatives. The Hartford’s research found that 73% of employees said mental health benefits help a company attract and retain employees.
Creating a culture of support
Beyond offering a mix of benefits and tools that support mental well-being, employers must also create a culture that encourages employees to seek help when needed.
The Hartford’s research found that 39% of U.S. workers overall and 52% of Gen Z workers said the stigma associated with mental health prevents them from getting support.
“We are encouraged by the progress in dispelling stigma associated with mental health, but it unfortunately remains all too real in far too many workplaces,” Spallone said. “When businesses prioritize mental health discussions, employees feel supported and safe to get help. They can help dispel stigma, remove biases, and fight stereotypes by building awareness, acceptance and understanding.”
Brokers can play a critical role in helping employers adopt a whole-company approach – from the C-suite to frontline employees to mental health and create a supportive workplace culture. Best practices include:
- Mental health education and training: This helps frontline managers and employees to use more inclusive language, spot signs of distress and offer appropriate support.
- Year-round communication strategies: Employers can normalize discussions about mental health, build awareness of available resources and encourage employees to seek help.
- Flexibility: Organizations that offer mental health days or flexible work arrangements help employees get the mental health they may need or support for their loved ones with a mental health condition.
As trusted advisors, brokers play a vital role in designing benefits packages that address mental health conditions while strengthening communications with employees who need support, paving the way for better productivity and worker hiring and retention.
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries, including underwriting companies Hartford Life and Accident Insurance Company and Hartford Fire Insurance Company, under the brand name, The Hartford®, and is headquartered at One Hartford Plaza, Hartford, CT 06155. For additional details, please read The Hartford’s legal notice at www.TheHartford.com. © 2024 The Hartford
Ann Clifford is a freelance writer who translates her background in financial services marketing into specialized content focused on employee benefits and small business topics.
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
