Embedding health and wellness in every organization…

Solving employees’ mental health challenges effectively

With remote working fast becoming the norm, depression, anxiety, and other mental health challenges are likely to increase due to lack of social contact, according to multiple expert studies. Adaptive leaders who prioritize mental health in their organizations will be the ones who attract and retain the best talent.

The mental and financial costs of social isolation

A recent Gartner CFO study reveals that 74% of those surveyed intend to shift some or all of their employees to remote work permanently. JP Morgan, Linklaters and Google are just a few of the high-profile global companies who have already done so. Yet while many organizations have the technology to move people to remote working, only a few have thought through the consequences for people’s mental health.

Consider that during the pandemic:

  • 75% of people said they felt more socially isolated
  • 67% reported higher stress
  • 57% felt increased anxiety
  • 53% said they felt more emotionally exhausted

This is according to a global study of over 2,700 employees across more than 10 industries undertaken by Qualtrics and SAP during March and April 2020 (source: HBR).

Research also indicates that employers lose around 32 days annually due to reduced productivity for every depressed employee. This could cost companies as much as $44 billion per year.

While employees have been asking for greater flexibility to increase work-life balance for years, these and other experts confirm that remote working can also have a deep negative affect on well-being. As professionals find themselves away from the day-to-day routines, increased isolation while juggling multiple commitments results in mental health challenges for many.

How tech can support employees’ mental health

Providing mental health support to thousands of professionals is no longer a nice-to-have; it’s now a requirement.

Many employers already recognize this, along with the exceptional circumstances that remote working creates. Most individuals need access to social connection, communities and structured engagement in order to thrive professionally. Younger employees also benefit from being able to learn on the job from their more experienced colleagues.

If well managed, advances in digital technologies can provide opportunities for efficiency, success and well-being as long as the right tools, techniques and approaches are considered and deployed for those employees that need them most.

Digital mental health propositions have become much more prominent – and urgent – due to Covid-19. It is a market space that includes countless funded startups who have received an average of $1-2 million in investment each, and covers video consultations, health marketplaces and collaborative ecosystem services, including doctors, hospitals and therapists. As a result, there are a host of potential tech-based solutions that adaptive leaders can turn to in this area.

The Health and Wellness Reinvention Engine

Understanding how to approach mental health – among other health issues – in a preventative and holistic manner is top of mind for a large range of organizations. This is especially the case as remote working creates a compelling need for some professionals to be “always on” and new risk types emerge.

Designing strategies to meet new expectations while also nurturing employees’ personal goals and corporate growth is fast becoming a priority. Alchemy Crew dive into those challenges that are core to the commercial health of a client’s business, we uncover the immediate gaps affecting team productivity and identify a series of best practices and socially-friendly tech ventures for quick resolution.

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Discover how our Health & Wellness Reinvention Engine can help incumbent players protect the health and productivity of their teams…