How Much is Mental Health Costing Your Compay?
Connor Patros | May 14, 2021 | Employers
The Rise of Mental Health Problems
Mental health problems are on the rise across the United States, with recent estimates suggesting a near doubling of problems with depression, anxiety, substance abuse, and suicidal ideation in working age adults.
Accompanying the increase in mental health problems are a variety of costly outcomes such as decreased employee productivity and increased healthcare costs. But until recently, it was challenging to accurately estimate how much mental health may actually be costing an organization.
The National Safety Council recently released a calculator that can assist companies in estimating the projected cost of mental health on their organization. We highly encourage you to explore this tool using the button below.
After providing a few simple inputs, such as employee size and location of the company, the calculator provides estimates of numerous costs -
- Missed days due to illness
- Turnover leading to re-training costs
- Emergency room visits - to name a few.
This resource gives companies a more concrete understanding of why providing low cost, scalable, and accessible mental health resources to employees is not only socially responsible, but is also fiscally responsible.
In addition to cost estimates, the report you receive from the National Safety Council includes information about other resources. These resources are broad and do not guide companies to a specific solution, but rather they try to help companies better understand what they could do to improve employee mental health. For example, one set of resources guides the user to an array of single-condition mental health survey tools, which
(a) one would need clinical expertise to understand how to select the most appropriate measures for their employee population; and
(b) were designed to assess a single problem area, which is very rarely how people actually present (many people experience difficulties across multiple areas).
A robust solution to address the national decline in employee mental health would assess the broad spectrum of possible problems that employees could experience and automatically connect employees to tailored, relevant, low cost solutions.
If you would like to learn more about Mindyra’s employee mental health solution, schedule a demo with our chief clinical officer, Connor Patros at Connor.firstname.lastname@example.org.