THE BUSINESS CASE
Mental health and wellness has emerged as one of the critical issues of our time and has only been compounded by the COVID-19 pandemic, the visibility of equity and social justice issues, and the overall economic instability across the globe. As the data shows, untreated and undertreated mental health is a heavy financial burden, especially in the workplace.
DEMAND IS UP
Today, 1-in-3 workers say that they would sacrifice pay for a workplace that provides better mental health benefits. Moreover, nearly half of employees say they demand more mental health support from their employer now than they did just 1 year ago
BENEFITS ARE CLEAR
94% of HR professionals believe that offering mental health resources can improve the overall health of employees, knowing exactly which policies and practices to implement for maximal return on investment is challenging
CHALLENGE IS WIDESPREAD
84% of workers surveyed experienced at least one mental health challenge over the past year, with those just now emerging into the work landscape showing the highest rates of strain.
INVESTMENT PAYS OFF
88% of HR professionals believe that offering mental health resources increases productivity and preemptively investing in workplace wellness programs, mental health benefits, and psychological and physical safety can save employers 25% or more on healthcare related costs.
Business as Usual Comes at a Cost
The cost of doing nothing about workplace mental health and wellness is significantly higher than investing in evidence-based prevention and treatment. Failure to support employees’ mental health not only weighs on the employees themselves, but it also weighs heavily on an organizations’ bottom line. Businesses can no longer afford the status quo.
76% of people believe companies should be doing more to support the mental health of their workforce
85% of people say their mental health issues at work negatively affect their home life (and vice versa)
70% of people reported more stress and anxiety at work in 2020 than any other previous year
*Source: Mental Health in America: A 2022 Workplace Report, SHRM
The Upside
Investing in workplace mental health and wellness increases retention, recruitment, and productivity; lowers absenteeism, disability leave, and medical costs; and reduces employee-related risks and potential liabilities.
Every $1 investment in promoting mental health has a $3 – $5 return
Source: Creating a mentally healthy workplace: Return on investment analysis. PwC, beyondblue, Australian Government National Mental Health Commission, and The Mentally Healthy Workplace Alliance.
Our People, Our Responsibility, Our Movement
The HR profession has always had a role in addressing mental health and wellness and in 2021, there is an unprecedented need for leadership and vision. SHRM Foundation embraces mental health and wellness as the future of work and understands this is just the beginning of a movement poised to shift the workplace paradigm around this most important issue.
SHRM Foundation is leading the charge toward transformational change by empowering business leadership and HR professionals to eliminate the stigma around employees’ mental health, invest in innovative wellness strategies, and create more supportive work environments through three key offerings:
- A platform for thought leadership supporting mental health and wellness in the workplace to accelerate a movement around removing the stigma of mental health from the workplace
- A portfolio of resources which includes innovative tools to create supportive and inclusive workplaces, including training modules, educational resources, HR ally certification, and more
- A first-of-its-kind Workplace Mental Health & Wellness Summit 2021 in the workplace, specifically for CEOs, CHROs to interact with experts, exchange ideas, and start the paradigm shift
We have the motivation, experience, and solutions to help executives and HR leaders in organizations of all sizes address the mental health and wellness of our most treasured resources: Our people.