Enhancing Well-Being: Integrating Mental Health into Employee Benefits Insurance Coverage
In the past, HR departments have focused on traditional employee benefits such as health insurance. However, with societal changes and shifting employee needs, HR trends are evolving rapidly.
Today, companies are realising that a healthy work-life balance is critical to employee satisfaction and productivity. Due to the growing prevalence of mental health concerns, employee well-being is now becoming a priority in the workplace.
According to the World Health Organization, 1 in every 8 people in the world struggle with a mental health disorder. In Singapore, the prevalence of poor mental health increased from 13.4% in 2020 to 17% in 2022, based on the National Population Health Survey 2022 by the Ministry of Health (MOH). Younger adults have the highest proportion of poor mental health at 25.3%.
Nevertheless, more people are willing to seek help with regard to their mental health, according to the survey. This is especially true as Singaporeans tried to cope with the stress brought on by the COVID-19 pandemic.
As a result, businesses are shifting their mindset to include mental health awareness in the overall employee experience. One concrete way to do this is to integrate treatment for mental health conditions into a company’s employee benefits insurance coverage.
Private health insurance plans cover mental health treatment for conditions ranging from mild to severe cases. As employers, it is crucial to be aware of insurance providers that offer such coverage and the cost it entails. Insurance brokers like eazy can help you assess different employee insurance options and choose one that best fits your needs and budget.
Benefits to Employers
The inclusion of mental health services in employee benefits packages can provide advantages to employers, such as:
- Enhanced productivity and reduced absenteeism: Employees who are mentally and physically healthy are likely to be more engaged and present at work.
- Attracting top talent and improving retention rates: Organisations that prioritise mental health and well-being enhance their employer branding.
- Possible reductions in healthcare costs and disability claims: Preventive mental health care can mitigate more severe health issues in the future.
Benefits to Employees
For employees, the integration of mental health services into their benefits packages has several advantages, such as:
- Better access to essential support and resources: It helps in managing and overcoming mental health challenges.
- Improved overall well-being and a healthier work-life balance: Employees can take better care of their health if there is adequate support.
- Openness about addressing mental health concerns: The stigma associated with seeking help for mental health conditions is reduced.
- A more holistic development within the company: Employees can focus on their progression within the company while caring for their well-being.
Incorporating Mental Health in Employee Benefits
Today's job seekers are recalibrating their priorities, looking beyond mere salary to a broader spectrum of benefits. There's a noticeable shift in employee attitudes towards valuing employers who prioritise well-being and work-life balance. In addition, flexible hybrid work arrangements and a supportive company culture are increasingly being used as motivating factors to attract talent.
Singapore’s Gen Z individuals, for example, are prioritising mental wellness benefits in assessing potential employers.
The evolution of employee needs reflects a deeper understanding of what contributes to job satisfaction and personal fulfilment in the modern workplace. But apart from insurance coverage, how can HR teams support employees' mental health?
Here are several ways companies can integrate mental wellness into their employee benefits packages:
Employee Assistance Programs: Offer confidential counselling services for employees dealing with personal or work-related issues.
Mental Health Days: Encourage taking mental health days as part of sick leave policies, recognising the importance of mental recuperation.
Wellness Programs: Initiate programs that promote overall wellness, including stress management workshops, mindfulness sessions, and physical fitness incentives.
Training for Managers: Equip managers with training to recognise signs of mental health struggles, promote open conversations about mental health, and provide appropriate support or referrals.
Mental Health Awareness Campaigns: Conduct regular awareness campaigns to destigmatize mental health issues, sharing resources and personal stories to foster a supportive community.
Resource Accessibility: Ensure employees have easy access to mental health resources and information, including contact details for professional support services.
Mindfulness and Relaxation Spaces: Create dedicated quiet spaces within the workplace for relaxation, meditation, or simply taking a break, which will help reduce stress during the workday.
Recognising the importance of mental health benefits is just the first step. The real change comes when employers actively incorporate these services into their benefits offerings.
At eazy, we guide our employees through the complexities of insurance to find the right coverage that meets their workforce's holistic needs. Including comprehensive mental health support in employee benefits packages ensures employers and employees have the resources to thrive.
For those looking to enhance their employee benefits with mental health coverage, our team is here to guide you through the process, ensuring your policies reflect the care and support your employees deserve. Contact us or visit our website to learn how we can help you find a suitable insurance policy for your employees.
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