The U.S. is facing an increasingly urgent mental health crisis that’s affecting nearly every aspect of daily life — including the workplace. While mental health issues have been escalating for several decades, the crisis has reached epidemic proportions in recent years. This presents not only a profound human concern but also a critical business issue that demands an immediate and strategic response.
The statistics underscore the urgency: The National Business Group on Health reports a significant uptick in mental health needs among today’s workers — with alarming implications for the bottom line. According to the American Psychiatric Association, depression alone causes a staggering $210 billion annual loss to the U.S. economy, half of which is attributed to workplace absenteeism and reduced productivity.
Business leaders are on the front lines, witnessing firsthand the impacts of mental health issues on their teams. The once-clear boundaries between personal and professional lives have blurred as employees grapple with depression, anxiety, burnout and other mental health conditions, hindering their ability to perform and thrive at work.
As a result, companies are actively searching for innovative, evidence-based and cost-effective solutions. A McKinsey & Company report shows nearly 80% of employers are concerned about employee mental health, and about half consider it a top priority for their organization.
The great news is that employees who receive mental health treatment from licensed, qualified providers show rapid and significant improvements in symptoms — at home and at work. In fact, the World Health Organization reports a $4 return for every $1 invested in mental healthcare.
But it’s not enough to build these services into the company health plan and hope for the best. A study by One Medical and Workplace Intelligence revealed that, while 64% of U.S. employees reported mental health struggles, only 19% used their mental health benefits in 2022.
Business leaders can move the needle significantly by educating employees about their mental health benefits and encouraging them to use the services available. In Arizona, where extremely narrow provider networks, wait lists averaging 6-8 weeks and high out-of-pocket costs create major barriers to care, companies must seek out innovative solutions to ensure timely access to mental health.
Among the solutions, Denova Collaborative Health offers same-day virtual therapy and psychiatry visits coupled with in-person care when needed. This hybrid approach provides prompt access and enhances convenience and privacy for employees seeking care.
Beyond connecting employees with the services they need, it’s critical for businesses to foster a workplace culture that prioritizes mental wellness and reduces the stigma of seeking care.
This may include training for managers to recognize signs of distress among team members and provide resources for immediate support. It may also include a committed effort to build awareness of mental health issues at work and create an open environment that encourages dialogue and support. In the spirit of open dialogue, leaders can offer a channel for employees to provide feedback on mental health initiatives — and a willingness to adapt programs accordingly.
A major step forward in destigmatizing mental health issues, many companies now provide paid mental health days as part of their sick leave policies. Some also offer flexible work arrangements and formalized policies that support a healthy separation between work and personal life.
The path from crisis to care is paved with committed leadership and innovative solutions. Now more than ever, leaders are eager to address mental health issues and connect their workforces with the care they need. Not only is this the right thing to do for employees, but it’s best for the bottom line.
As CEO of Denova Collaborative Health, Graham Johnson and his team focus on timely access to mental and behavioral healthcare. With a deep bench of more than 300 licensed and qualified providers, the company offers same-day therapy and psychiatry visits and accepts nearly all forms of insurance.
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