Oct 22, 2021
The Cost of Mental Health In The Workspace
Many of us experienced mental distress at some point within the last few years. As of 2021, 19% of American adults are experiencing a mental illness. With the increase of mental illnesses across the country, employers are looking for mental healthcare for themselves and their employees. 46% of full-time American workers are suffering from mental health issues. Investing in mental health platforms such as Heritage CARES could save companies billions of dollars. Employers who support mental health will see a $4 return for every dollar invested in mental health treatment.
Mental illnesses such as depression can cost employers up to $51 billion per year in lost productivity. Absenteeism can increase due to emotional and physical discomfort from work-related stress and anxiety. The per capita of absences due to depression is $4,4426.59. Some workers may leave an organization for mental health reasons. It costs up to 40% of an employee’s base salary to hire a new employee with benefits. Providing mental health options could prevent job abandonment and increase presence within the workspace.
Mental health challenges often contribute to higher health care costs. A decrease in mental health can be a risk factor for chronic physical conditions, prompting the cost of health care to increase over time. Depression can cost employers an average of $10,000 per year in healthcare. Supporting mental health gives an overall sense of belonging to workers within an organization. Workers who have onsite access to mental healthcare are more likely to become more present and contribute to high morale. Platforms like Heritage CARES understand the importance of proper mental health within an organization, and they guide employers to create safe and supportive workspaces.
Many employers are researching digital mental health programs such as Heritage CARES, a proven virtual support program designed to help individuals struggling with stress, substance use, and suicidal ideation. Our platform easily integrates into existing Employee Assistance Programs (EAP) and other wellness programs. Our certified Assertive Community Engagement (ACE) and NAADAC credentialed peer coaches provide mental health support to employees and their families 24/7/365.
Learn more about how Heritage CARES can help increase savings for your organization at https://heritagehealthsolutions.com/employers/