Employee benefits and retirement plan solutions Trends and Insights Support employee mental health and wellness: A step-by-step guide

Support employee mental health and wellness: A step-by-step guide

Employee mental health has been a top concern among businesses for years. Explore how you can make a difference—through work experiences, financial education, and access to benefits.

Woman in office environment smiling at a colleague.
2 min read |

You want what’s best for your team members. You also know that they do their best work when focused and untroubled. Unfortunately, that isn’t the reality for many employees, and employers like you are taking note.

According to Principal® research that polled leaders and employees at small to midsize businesses:

63%

Sixty-three percent of employees say their employers should be concerned about their mental health and wellness.

43%

Forty-three percent of small and midsize businesses are concerned about their employees’ mental health and wellness.

36%

Thirty-six percent of small and midsize businesses are interested in adding mental health benefits within the year.

What’s going on? Employees and employers agree that anxiety, stress, and depression play a significant role in worsening mental health; excessive workloads and lacking access to benefits also come into play. But it’s financial concerns—including inflation/rising costs of living and concerns about personal financial situations—that rank highest.

These factors span many categories of holistic wellness (beyond what we might typically think of as clinical mental health), and many are directly tied to workplace benefits and experiences. Which is to say: You have opportunities to help your employees and maintain workplace productivity.

We’re here to help you do it with a series of tip-based articles.

“My wholehearted belief is that if you want to focus on getting the best out of your people, you create an environment where you remove worries, whether it’s health and wellness worries or—equally as important—financial worries.”

Sri Reddy, senior vice president, Retirement and Income Solutions

4 ways to address wellness in the workforce:

1. Create a positive work experience.

From promoting healthy work-life balance to encouraging collaboration on the job, learn to address common workplace stressors without making a major financial investment.

2. Support employees’ financial wellness.

Financial problems aren’t just distracting; the stress can physiologically affect employee reasoning abilities and productivity. Explore what you can do to make a difference.

3. Utilize employee assistance programs (EAPs).

Discover the wide range of resources within an employee assistance program. Did you know you may be able to add one to a broader benefits plan at little to no additional cost?

4. Bring mental health and wellness initiatives to life.

Ready to implement changes to your workplace benefits based on the above? Here are a few approaches to doing so—keeping cost and transparency in mind.

What’s next?

Visit our small business resource center for additional content, webinars, and tools. Or contact a Principal financial professional to work through your business needs one on one.