Mental Health: Know the Costs and Deliver the Solutions

Most employers want to take care of employees. But taking care of employees doesn’t only help the individual worker. It can also protect your client’s bottom line.

How Mental Health Conditions Can Impact Company Finances

An employee working with unaddressed behavioral health issues may be paid for hours they complete at a lower level of performance than the organization needs.

Mental health conditions are impacting a significant part of the U.S. workforce. And unfortunately, that number has grown over the last year. In 2020, the percentage of employees with mental health issues rose from 39% to 46%. Those suffering from a serious mental illness increased from 7% to 11%.*

This situation can be difficult for employees, and also lead to a real monetary cost for an organization.

How? The U.S. Bureau of Labor Statistics reports that the average wage of a U.S. worker is $990 per week. If only one employee is less productive for 20 hours each week, an employer could lose $495 per week. Imagine how that number grows with almost half of the workforce experiencing mental health issues.

This graphic shows how productivity lost due to mental health issues can add up over a year.

Help Clients Support Employees and Achieve Business Goals

Bringing in the right disability carrier is key. Be sure to recommend a carrier with experience and a proven track record. That requires taking a look at their mental health experts. You'll want to consider what methods they’ve developed to help employers manage these issues.

Sharing data and resources is a good starting point. Our Behavioral Health Resource Center features research, insights, tools and tips to help employers better understand employee mental health concerns. Ensuring your clients have knowledge of the issue will prepare them to achieve more positive results when they partner with a disability carrier.