Embedding health and wellness insurance schemes in every organization…

Solving today’s behavioural health challenges faster and effectively

With remote working fast becoming the norm, depression, anxiety, and other health issues are increasing fast due to lack of social contact, according to multiple expert studies. Empathetic and adaptive leaders who prioritize behavioural health as part of their talent strategy will be the ones who attract and retain the very best specialists and skilled workers.

Behavioural health: The financial costs of social isolation

A 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, Google, and LinkedIn are just a few high-profile global companies that 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 on people’s health and wellness.

Consider that during the Covid-19 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

These results are directly linked to a global study of over 2,700 employees across more than 10 industries that Qualtrics and SAP undertook between 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 and negative impact on well-being. As professionals find themselves away from the day-to-day routines, increased isolation while juggling multiple commitments results in behavioural health and wellness issues for many.

How tech can help employees’ health and wellness

Providing health and wellness 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 connections, communities, and structured engagement in order to thrive professionally. Younger millennials and Gen Z employees also benefit from being able to learn on the job from their more experienced colleagues.

If well managed, digital technology advancement provides opportunities for continuous well-being driving efficiency and unexpected growth as long as the right tools, techniques, and approaches are considered and deployed for those motivated employees that need them most.

Digital behavioural health and wellness propositions have become much more prominent – and urgent – due to Covid-19. The digital behavioural health and wellness market includes countless funded startups who have received millions in investment each. It covers video consultations, health marketplaces, and collaborative ecosystem services, including doctors, hospitals, and therapists among the few. As a result, there are a host of potential tech-based solutions that people-concerned leaders can turn to.

The Health and Wellness Venture Labs

Understanding how to approach health and wellness – among other health issues – in a preventative and holistic manner is top of mind for many established organizations. This is especially the case as remote working creates a compelling need for volumes of professionals to be “always-on” resulting in new emerging risks.

Designing health and wellness strategies to meet new expectations while also nurturing employees’ personal goals and corporate growth is fast becoming a priority. Alchemy Crew dives into those challenges that are core to your commercial health and wellness clients. We uncover the immediate gaps affecting users’ behavioural needs, identify a series of best practices for digital implementation and deploy socially-friendly tech ventures for a quick resolution.

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Discover how our Virtual Health & Wellness Venture Labs can help your leaders scale up growth via targeted digital HealthTech schemes…