Do you prioritize wellness in the workplace?

Mental health is one of the biggest deterrents of physical health, and is considered for many a taboo topic in the office.

According to an American Psychological Association study, 72% of Americans said they felt stressed about money, which can quickly turn into feelings of anxiety and depression, or in other words, a mental health disorder.

According to NAMI, 1 in 5 Americans experience a mental health condition each year, and 57% of those with a mental illness are not actually receiving any medical care. 

Common mental disorders include, but are not limited to:

• Anxiety
• OCD
• ADHD
• Depression
• Bi-polar disorder
• Eating disorders
• Personality disorders
• Post-traumatic stress disorder

What may lead to a mental health disorder?

• Lack of social support
• Divorce or separation
• Risk of domestic violence
• Job insecurity/loss
• Workplace or family conflict
• Financial stress

Mental health disorders aren’t usually the cause of just one event, but lifestyle and environment can be major factors in increasing one’s stress leading to a mental health disorder. Due to the pandemic, many of these factors may be prevalent in the lives of the people around us.

Let’s talk about a big one…financial stress.  

• More than half of employees cited financial health as their biggest concern (MetLife)
• 54% have at least $10k in debt (CareerBuilder)
• 4 in 5 reported living paycheck-to-paycheck (BenefitsPro)
• 37% have student loan debt between them and their spouse (CareerBuilder)
• 41% report struggling to pay bills almost monthly (CareerBuilder)

These statistics are from late 2019 or early 2020, before the pandemic transformed our lives…

In general, stress is cumulative and additive so one small area of stress can morph into many large areas of stress. 

So the stress overload from the government’s constant change in rules, isolation, unemployment, unpredictability in our routines, and lack of control is seemingly accumulating and leading to unnecessary thoughts and bad habits.

Does personal stress affect organization’s at large?

Absolutely.

This overwhelming feeling of stress negatively affects your employees’ productivity at work which is estimated to cost employers an estimated $250 billion per year in lost productivity and absenteeism. This doesn’t scream wellness in the workplace…

How do we overcome financial stress?

Be proactive.

Think about the benefits you, or your organization, provides. That list likely includes:

• Health insurance
• Dental/Vision insurance
• Retirement/401(k) plans
• Life insurance
• Paid time off

Why isn’t financial wellness listed there?

Because most organizations are reactive to financial wellness programs. 

If we change our thinking about financial wellness benefits to be more proactive, we can significantly reduce these numbers and increase the financial wellness literacy of our organization.

Wellness in the workplace isn’t just about healthcare or physical wellness programs; it encompasses much more. 

Financial wellness programs offer a dynamic and holistic approach to the personal financial problems while providing benefits your employees need. 

To learn more about TrueConnect’s financial wellness voluntary benefit, watch this quick demo.