Top 4 Reasons to Prioritize Mental Health Benefits

Posted on: May 20th, 2024 by Our Team

From Stressed to Best: The Importance of Offering Non-Insured Mental Health Benefits

As a broker, it’s important to educate employer groups on the importance of reducing stress and anxiety and improving mental health for their employees, especially during Mental Health Awareness Month in May. Providing mental health support to employees like offering non-insured benefits that focus on mental well-being — can have a significant impact on productivity, but did you know a small investment can have a big ROI? 

According to a study by the World Health Organization, every $1 invested in mental health treatment yields a return of $4 in improved health and productivity. You can offer your clients mental health solutions through New Benefits — such as peer support, counseling sessions with a therapist, and more — for less than a dollar a day, depending on the benefits packages.

Supporting employees’ mental health not only enhances their well-being but also contributes positively to the company’s financial performance. Offering solutions such as peer listening, counseling sessions, or self-guided resources and services through EAPs empowers employees to manage their mental health effectively. Here are some key reasons why providing these benefits is essential, not just during this month but all year round:

Increased Productivity and Performance

Employees struggling with mental health issues may experience difficulty concentrating, making decisions, and meeting work demands. Life changes, such as welcoming a new child or grieving the loss of a parent, can cause unfamiliar or intense emotions that may affect employees’ performance at work. By offering non-insured benefits that aid in peace of mind and well-being, such as counseling services, wellness programs, caregiver support, and financial resources, employers can help employees manage stress and anxiety, leading to increased focus and productivity. 

Reduced Absenteeism

Mental health issues are a leading cause of workplace absenteeism. By providing access to mental health resources and support, employers can help employees address these challenges early on, reducing the need for time off and promoting a healthier, more engaged workforce. Offering virtual therapy sessions with a counselor or self-paced educational videos can be the key to transforming an employee’s experience from disengaged to motivated and present.

Improved Employee Retention

A work environment that focuses on employee well-being can greatly improve retention rates. According to a survey by the American Psychological Association, employees who feel valued by their employer are more likely to have higher levels of job satisfaction and engagement, and less likely to experience burnout. Employees who feel appreciated and supported in managing their mental health are likelier to stay with the company long-term. 

Cost Savings in the Long Term

While investing in non-insured mental health benefits may seem costly initially, long-term savings can significantly boost ROI. When you break down the cost, providing mental health solutions can be as affordable as less than a dollar a day—a small investment for a significant return. The National Alliance on Mental Health estimates that untreated mental health issues cost the country up to $300 billion annually in lost productivity. By preventing and addressing mental health issues early, employers can avoid higher healthcare costs associated with untreated conditions. 

Supporting employee mental health through non-insured benefits is a win-win situation for both employers and employees. Companies can foster a healthier, more productive, and engaged workforce by providing resources and support. Brokers can play a key role in helping employer groups recognize the value of reducing stress and promoting mental health by sharing these findings and encouraging investment in mental health support. Prioritizing mental well-being enables employees to thrive at work and in their personal lives, ultimately contributing to the company’s overall success. It’s time to make mental health a priority year-round in every workplace.