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- Mental health toll on people and businesses - Since the start of the pandemic, 42% of employees felt their mental health has taken a toll, so it’s unsurprising that digital downloads for mental health needs have surged by nearly 200%. [MarketWatch]
- Cost of ignoring mental health - At the workplace, employees with untreated mental illness are prone to absenteeism and presenteeism. According to the WHO, depression and anxiety cost the global economy $1tn per year in lost productivity. [Forbes]
- Positive outlook for companies - A 2020 survey found that 69% of large employers already provide access to various digital mental health resources and apps, and that number will rise to 88% by the end of 2021. Addressing mental wellness pays off, as for every dollar a company spends on wellness programs, healthcare and absenteeism costs can fall by $2-3. [Nikkei Asia, Yahoo Finance, McKinsey]
- Practical considerations - For HR managers looking to use digital tools to manage their employees’ stress and anxiety, experts advise against choosing a tool or app based on metrics like user downloads. Instead, HR managers should look deeper and ask contextual questions like “what does providing an app for mental health of employees mean and what resources do they need to cope? [HBR]
🔍 More if you're curious...
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