This client was a technology company with 75 employees domiciled in Westchester County, NY.
Company management noticed an increase in the number of employees reporting stress, anxiety, and other mental health issues. Our team worked with the company's HR department to develop a survey to gather information on the employees' mental health needs and discovered that employees were experiencing stress due to workload, work-life balance, and financial concerns.
MBA Solution Presented
To address these issues, we suggested that the company consider enhancing its mental health benefits. Specifically, we outlined several strategies to accomplish this, including:
- Implementation of an Employee Assistance Program (EAP) An EAP provides employees and their families with access to mental health professionals who could help with personal and work-related issues. The EAP would also offer counseling, referrals to specialists, and other resources to help employees cope with mental health concerns.
- Upgrading the company’s existing telemedicine services By offering enhanced telemedicine services for mental health consultations, the company would provide employees with access to mental health professionals from the comfort of their homes or workplaces, reducing barriers to accessing mental health services.
- A promotion of the company’s wellness programs Through the promotion of wellness programs that focused on stress reduction, mindfulness, and resilience training the company would be helping to direct employees to resources where they could develop coping strategies aimed at improving their levels of mental health.
- Providing financial assistance for mental health treatment Companies that provide financial assistance for mental health treatment, such as covering the cost of therapy sessions, medications, and other mental health services would provide valuable assistance to employees who might otherwise be unable to afford mental health treatment.
After implementing the new mental health benefits program, the company noticed a significant improvement in employee mental health and well-being. With the correlated increase in employee job satisfaction and productivity, the company estimated an annual savings in excess of $32,000, net of program costs. Additionally, employees appreciated the company's efforts to support their mental health and well-being and felt valued as employees.