More Canadians are recognizing the importance of prioritizing their mental health. Despite this growing awareness, many workers still face barriers to accessing essential mental health services and support, with cost being a significant deterrent.
One out of five working Canadians lives with a mental illness each year. Yet, nearly two-thirds of Canadian workers rarely or never seek mental health support due to financial constraints. Three-quarters of Canadians say they’d be willing to use these services if affordability wasn’t a concern.
Mental Health Matters
Organizations depend on their employees to deliver on their missions and provide products and services essential for overall success. Prioritizing employee well-being is key for achieving business objectives and optimizing returns.
Over half a million workers are unable to work because of mental health issues. Mental health issues result in direct economic costs like healthcare expenses and disability claims, as well as indirect costs such as staff turnover. An analysis shows that poor mental health in Canadian workplaces costs about $50 billion each year. This includes about $6 billion in lost productivity due to issues like absenteeism.
Access to mental health benefits in the workplace can provide employers with a competitive advantage in attracting and retaining talent. Workers are demanding better mental health benefits as mental health awareness rises in the wake of COVID-19 pandemic related disruptions. Canadians aged 18 to 34 are more likely to leave their current employer for another that is offering what they would consider to be better benefits. Over 88 per cent cite mental health support as the most desired benefit, significantly ahead of other benefits like healthcare spending accounts or additional coverage options.
How Employee Assistance Programs (EAPs) Can Help
While investing in the mental health of the workforce is important, employers may wonder where to begin. Here are a few reasons why employers should consider offering an Employee Assistance Program (EAP) to ensure their workforce can access affordable and readily available care:
Improving Workplace Well-being
Investing in an EAP can lead to returns for employers in terms of productivity, absenteeism, and employee morale. By proactively addressing mental health concerns through an EAP, employers can create a healthier and more engaged workforce, ultimately driving business success. Contact us so we can work together to create strategies that work best for you and your team.
Suggested Reading
Maximizing Unused Mental Health Benefits in the Workplace
Mental Health at Work: Signs an Employee is Struggling
Additional Resources
The ROI in workplace mental health programs: Good for people, good for business