The Cost of Poor Employee Mental Health
Wondering how to balance steady growth while maintaining company culture and providing a diverse, equitable, and inclusive workplace? A major player is employee mental health.
Mental health challenges in the workforce can lead to higher health care costs for employers. Meanwhile, the cost of implementing robust employee mental health benefits pales in comparison to the cost of a workforce struggling with untreated mental health issues. Some employers may not be aware, though, exactly how much mental health care drives up insurance costs.
For example:
One estimate showed that an employed person with depression has an annual average healthcare cost of over $10,000, which is more than twice that of an employee without depression ($4,584).
One study found that employees reported performing at 72% of their full capability in the past year when considering their mental health.
One of the major reasons for this is the cost of turnover. Of employees leaving full-time positions, 50% cited mental health issues as a major factor in their decision.
Calculating The Cost of Poor Mental Health
Linked below is our Mental Health Cost Calculator for Employers, which will give you a sense of what poor employee mental health is currently costing your team (about $5,550 per employee, per year!).
The Solution
The solution is twofold. First, make sure leadership is communicative and skilled in supporting those who are struggling with mental health. Second, help your employees through better access to therapy.
What is Samata Health?
Samata Health provides high quality, personalized mental health care to your team with zero barriers to access. Benefits of working with Samata Health include:
Usage-Based Rates - Unlike the other services, Samata Health only charges for sessions your employees actually use. No subscriptions, no minimums.
High Engagement Rates - The average engagement for traditional EAPs is 2-4% vs. Samata Health’s 21% rate.
Easy Onboarding for HR - Samata Health takes care of the admin work so that HR professionals get to be hands-off and attend to the many other hats they wear.
Continuity of Care - If your employees use all of their employer-sponsored sessions, they won’t be cut off from their therapist. Instead, they can keep booking through the platform through their HSA, FSA, and personal cards.
A Diverse Network of Therapists - One of the missions of Samata Health is to have a diverse network of therapists to match all of your clients needs.
Telehealth & In-Person Options - As long as it’s safe (cough cough COVID-19), clients can meet their therapists in-person or over telehealth.
If you’re interested in learning more, reach out to our team or request a free demo!
