Mental health in the workplace continues to gain momentum

Are you looking to join a financial services organization that places great importance on the mental health and well-being of its employees? If so, you're not alone.

The salary and insurance benefits provided by a potential employer are obviously top-of-mind considerations for job seekers. However, for a growing number of people the mental health benefits provided by a potential employer are also an important factor to consider in today's post-pandemic environment.

While a potential employer may provide great insurance benefits, that doesn't necessarily mean that mental health services are covered. And it also doesn't mean that organization's corporate culture is open and supportive of those employees in need of such services.

According to a recent survey conducted by nonprofit Business Group on Health of 152 large employers across varies industries, 77% of employers surveyed said they saw in 2023 a rise in mental health needs such as anxiety, depression, and substance use disorder. Another 16% of employers said they anticipate a rise in the future.

To address the issue in 2024, employers said they were looking to provide more options for support and reduce cost barriers to care to help broaden access to mental health services, according to the Business Group on Health's 2024 Large Employer Health Care Strategy Survey.

"Our survey found that in 2024 and for the near future, employers will be acutely focused on addressing employees' mental health needs while ensuring access and lowering cost barriers," said Ellen Kelsay, president and CEO of Business Group on Health, in a press statement announcing the survey results. "Companies will need to creatively and deftly navigate these and other challenges in the coming year, especially as they remain committed to providing high-quality health and well-being offerings while managing overall costs."

Further underscoring this point, a 2023 survey of more than 1,100 individuals conducted by The Conference Board found that 34% said their self-reported level of mental health was lower compared with the prior six months. Furthermore, nearly 70% of workers who reported decreased mental health also reported decreased levels of engagement in their job.

Commenting on the findings, Rebecca Ray, Executive Vice President, Human Capital, The Conference Board, said is a press statement, "This survey reveals that many workers are really struggling with their mental health. This could be due to a combination of factors both inside and outside of the workplace, but the fact remains that it can have an outsized impact on work performance."

Understanding an Employer's Commitment to Mental Health

If you are among those struggling with mental health challenges, there are several important factors to consider in your job search. For starters, are mental health services covered under the insurance benefits and, perhaps more importantly, how strong is the potential employer's support of mental health needs?

While you may not feel comfortable discussing your struggles with mental health during a job interview, it is reasonable to inquire about the potential employer's views on mental health, in general, and to ask some insightful questions to get more specifics.

Questions you might consider asking include, but are not limited to:

• How did the organization support the mental well-being of its employees through the pandemic?
• Is there anything built into the policies and procedures to support mental health and well-being?
• Is mental health talked about openly at your organization?
• Do leaders within the organization know all the resources to help support an employee in need of help, and what are some of the resources that you're offering?
• What happens if an employee does go out on a leave that is associated with behavioral health or mental health? How do you reintegrate that employee back into the workplace?

If the potential employer is able to provide any specific examples to illustrate how they have supported the mental health of employees that can be especially helpful in determining if the organization's corporate culture is the right fit for you.

The reality is that mental health is not just a public health issue, but is also a workplace issue. Joining an employer that cultivates a corporate culture of support and strives to eliminate the stigma associated with mental health is important for a growing number of job seekers. With the right job search tips at hand, you can land the job of your dreams. If you're interested in learning more about career growth opportunities, visit the American Banker job board.