The increasing importance of mental wellness benefits

The days of medical insurance, two weeks' vacation and a 401(k) being a competitive benefits package are long gone. Today’s employees demand a variety of options to support life balance, and mental health benefits are becoming an essential component.

Research shows that workers’ mental health is being challenged on multiple fronts:

• Employees citing financial concerns as a cause of lower mental health increased to 48 percent in 2023, from 31 percent in 2022¹
• 67 percent of employees are feeling the impact of recession concerns on their mental health²
• Three in 10 employees in the U.S. reported being burned out “very often” or “always” at work³
• Four in 10 employees revealed that their job had a negative impact on their mental health in the past six months³

And a disconnect between employer and employee perception of mental health in the workplace is another factor driving a need for additional attention on this benefit:

• 65 percent of employees say they are mentally healthy, versus 85 percent of employers reporting their employees are mentally healthy¹

Sharing these factors isn’t intended to overwhelm; in fact, Securian Financial is here to help. Our recently released study of mental wellness benefits examines today’s workforce, the connection between mental health and financial wellness, typical barriers to utilizing these benefits along with solutions, and much more. It’s designed to help employers optimize their approach and increase employee participation.