Recent data from the US Bureau of Labor Statistics reveals an eye-opening trend: in November 2021, a staggering 4.5 million individuals decided to leave their jobs, the highest number since December 2000.
This spike, part of what's been coined "the great resignation" coupled with "the great retirement," has companies scrambling for ways to hold onto their workforce. Beyond traditional perks like health insurance, innovative benefits are becoming a new focal point for boosting employee retention through enhanced mental health support.
Fostering Employee Health and Happiness
Employees praise an employer's supportive environment. Employees enjoy a variety of wellness perks at work, for example, massages and physiotherapy. They say, "It's done wonders for my overall health," they share.
They further appreciate the comprehensive nature of their benefits, "Knowing I have extra days for mental health or personal matters like moving house gives me peace of mind, even if I don't use them all."
Employees also mention their employer's wellness subsidies, which contribute towards gym memberships or similar services, as a testament to the company's investment in their employees' well-being.
Securing Employee Peace of Mind
Deidra Thompson, DNP, an academic at Walden University's nursing program, emphasizes the role benefits play in supporting mental health. Comprehensive health insurance, disability coverage, and retirement plans offer a security blanket that can mitigate stress and anxiety.
Thompson points out the value of such benefits for families, reducing the financial worries that can otherwise lead to mental health struggles. "Knowing your family is covered can lift a huge weight off your shoulders," she states.
Moreover, Thompson believes that benefits convey a sense of value to employees, which can significantly enhance job satisfaction. Free employee assistance programs are a prime example of how companies can show they care by offering critical support for mental health issues.
Healthcare workers and support staff, Thompson notes, have been the backbone of pandemic response efforts, and their need for comprehensive support is unquestionable. But the importance of work benefits extends beyond healthcare, contributing to a sense of meaning and purpose that bolsters mental health despite the strain that pandemic pressures have placed on workers across the board.
Autonomy in the Workplace
The conversation about benefits also extends to job autonomy. A woman in Ann Arbor, MI, who prefers anonymity, voices her wish for more recognition of the flexibility needed in administrative roles. She contrasts her mandatory on-site presence with remote work policies for higher-paid roles, feeling undervalued despite her contributions.
On a brighter note, Leslie from Canton, MI, recalls how Mercedes-Benz Financial offered a dedicated space for meditation and prayer, showcasing an inclusive approach to employee wellness.
Valuing Employees through Benefits
Psychiatrists link good job benefits directly to employees feeling valued. Adequate paid time off, flexible scheduling, and comprehensive health insurance, among others, can alleviate financial stress and enhance job engagement.
Psychiatrists point out that such benefits can decrease burnout rates, characterized by mental fatigue and a negative attitude towards one's job. They stressed that offering competitive advantages is essential for retaining current employees and attracting new talent.
The pandemic has shifted perspectives on work and life, underscoring the necessity of policies that address the rising tide of burnout and stress. "Employers are becoming more aware of burnout and are adjusting workplace policies to show they are listening," as per one of the psychiatrists interviewed.
Immediate action should be taken to improve well-being and recovery, advocating for a balanced lifestyle that includes relaxation and stress management techniques to foster resilience.
Conclusion
Insights from professionals and employees affirm the correlation between workplace benefits and mental health. Progressive companies are adopting new strategies to curb turnover and show they value their employees, realizing that such measures significantly impact job satisfaction and employee retention.