How can employers make tangible changes to support mental health in the workplace? The topic of mental health and how work can negatively affect your mindset has been a popular topic of discussion in the last few years. Many companies want to help but aren’t sure what actions they should take. From simple steps, like encouraging an open environment for discussion and questions, to more in-depth changes, like offering wellness services, there are many ways you can begin the process of supporting mental health in your workplace.

This article from Forbes reviews some ways your company can start supporting your employees and create a safer workplace for everyone. By taking a look at your office culture, helping your team members identify mental health risks with confidential screenings, and training your managers on how to be supportive of a team member going through a mental health crisis, you can start to offer substantial changes.

There is a war for talent right now, and employers need to be competitive to get the best candidates. High salaries alone may not cut it, which means you need to get creative with the benefits you’re offering. Mental health, and how to support your employees, has been a popular topic of discussion in the business world. In a recent study, more than 40% of U.S. consumers reported that they had difficulty paying a bill. Those with lower incomes were much more likely to struggle with finances, but 18% of respondents with incomes over $100,000 also reported that they struggled with expenses. This demonstrates that all employees struggle with financial stress from time to time, no matter their income level.

So how can you support your employees with their finances if you’re already paying competitive salaries? You can offer benefits that strengthen their financial literacy. There are services like FinFit, that all PrestigePEO clients have the option of enrolling in at no extra cost, which makes finances simple. Up to 58% of FinFit’s clients report that they see an improvement in employee retention after offering this benefit. Below are just some of the top benefits of providing a financial wellness program to your employees.

Stressed workers aren’t efficient workers. Finances are a significant contributor to employee stress, and a Bank of America survey found that 51% of employees are more worried about their finances now than they were during the height of the pandemic. When you’re struggling with your finances, you may not be able to afford activities that can relieve stress, like a vacation, a massage, or even having a dinner out with friends. Our country has gone through a mental health crisis over the past couple of years and the companies that retain employees are the ones that are offering ways to support their team members. Happier workers feel more satisfied with their jobs, and workers that are supported by their company feel valued and are more likely to stay.

In the not-too-distant past, mental health issues were a taboo topic, especially in the workplace. Now we not only acknowledge that mental health is important and struggling with it is common, but we also have employers that want to care for their team members with resources and tools.  It is an amazing change for the better, and one that benefits both employees and employers.

According to a recent report, employees spend 25% of their workday worrying about money. When an employee is stressed about their finances, this doesn’t just affect their personal life. Often, this affects all aspects of their life, including their work. Therefore, financial stress impacts your bottom line and contributes significantly to employee burnout. A stressed employee may have strained relationships with their colleagues, is less productive, and produces lower quality work. Providing your employees with a financial literacy tool can ease these worries and improve productivity. When team members feel less stressed about finances, they can focus on their work and productivity increases. 88% of FinFit’s clients reported an increase in productivity after offering this benefit.

If an employee is anxious about their finances, they are more likely to have compounding health problems. Anxiety, depression, and insomnia can all occur because of severe stress. These are also contributing factors that affect productivity, and an employee suffering from these symptoms will likely have poor quality work. Further, stress can cause or worsen conditions like heart disease, gastric distress, high blood pressure, diabetes, and more. When you lower stress, you lower the chances of all these conditions, and you have a healthier and happier employee.

Many people who are in dire financial need don’t know where to start to rectify their situation. A tool like FinFit takes the confusion out of the equation. When the employee signs up, which all Prestige clients can do via the FinFit website, the FinFit app, and the PrestigeGO app, they will be presented with a variety of easy-to-read tools. They can get an overview of their finances, and FinFit will provide the employee with savings goals. Each month FinFit will let the employee know how they did with their budgeting goals and where they can improve. It can even guide the employee through tax planning and help the employee decide how much money to withhold. If they have any further questions, FinFit offers free financial coaching. By offering a financial wellness tool to your employees, you provide them with an amazing opportunity to understand and plan their financial future. You are also letting them know that you care about their wellbeing, and they are not just another employee.

To support your staff and attract talented candidates, it is important to offer well-rounded and comprehensive benefits. Think about the whole picture, not just the work your team delivers. If your employees have great benefits, retirement options, and are confident about their financial future, they will be well prepared to be productive and hard-working. Providing a financial wellness tool to your employees is a simple and cost-effective way to provide an amazing resource. If you are a current client and you would like to learn more about FinFit, please contact your Benefits Specialist. If you are interested in joining Prestige and want to hear about our financial wellness tool and our other Fortune 500 benefits, contact us at any time.

These past few years have been hard for many reasons, and it has increased awareness about the need for mental health services. More than ever before, workplaces are supporting their employees to ensure they have the support they need. Not only do these efforts create a healthier workspace for your team members, but they also increase employee retention, increase productivity, and improve your company culture.

This article from the Harvard Business Review goes in-depth on how workplaces have recognized the importance of mental health, how poor mental health can affect the workplace, and how companies can help.

Mental Health Awareness Month began in the United States in 1949 and was started by the Mental Health America (MHA) organization, also known as the National Association for Mental Health. According to youth.gov, “Mental Health Month was established to increase awareness of the importance of mental health and wellness in Americans’ lives, and to celebrate recovery from mental illness.” The DEI committee at PrestigePEO would like to acknowledge Mental Health Awareness Month by providing tips to promote a healthier work-life balance. Life may present you with challenges, but there are resources to help you through. Here are some tips to help you get back on track to a healthier work-life balance for you and your employees.

Blocking time for specific tasks will allow you to focus with minimal interruptions. It will also help you to set priorities and finish the job. This will mitigate procrastination and increase time management strategies by giving a clear sense of when a task needs to get done and what resources you need to complete it. Therefore, the overwhelming sense of urgency that any project brings is squelched and alleviates any anxiety to complete it.

There are always busy periods when you may need to work extra hours to complete a project, but if you’re consistently working hours after the workday is over, this can damage your work-life balance. Set a limit to how many after-hours you can commit to your company. Work with your manager on setting a schedule that works for you, and if your workload is overwhelming, you can work together to decide if adding a team member is necessary or if you should put certain tasks on the back burner while other more important items are completed first. Additionally, try not to check work-related communications after the workday is over or on the weekends. Being a hard worker is great but working constantly will contribute to burnout. You need time away from work tasks to rest and refresh yourself. Be gentle with yourself and mindful of your time and energy.

According to Canopy Health, “Disconnecting from work, especially from a stressful or demanding job, will afford your work staff a welcome reprieve from the daily grind, allowing them the chance to rest, relax, and rejuvenate.” PTO gives you time to rest and reset to continue working on a positive note with renewed energy. According to Allinahealth, “Studies have found that chronic stress can make it difficult to achieve certain tasks and cause memory problems. Taking time off can be like getting a tune-up for the brain, improving your mental health and cognition.” Use PTO to book a vacation at least once a year. Planning for vacations and taking PTO will give you something to look forward to. When returning from a vacation, you are more alert, refreshed, and productive.

Give yourself some time to decompress by walking outside during your lunch break or just for a few minutes. This will help to detox and refresh your mind. As a bonus, taking a walk is great for your health! It can prevent conditions such as high blood pressure and improve balance and coordination. It may seem like cramming for a deadline is the best way to get through your work but taking the time for a break can make a big difference in your productivity.

If your company has team events, join in! This year PrestigePEO is happy to announce our participation in the 3.5-mile Marcum Workplace Challenge. A group participation event will foster your relationship with your colleagues while supporting your company. If your company doesn’t have any events like this on the calendar, try suggesting one! Take a look at the community events in your area and see what could work.

If you feel overwhelmed with personal or workplace challenges, it is okay to ask for help.

There are resources available to you through your employer. One option is to find out if your company provides access to an Employee Assistance Program (EAP). An EAP can connect you with resources like counseling sessions, and they can provide referrals for additional support. If you are a client of PrestigePEO, please contact your HR Business Partner to guide you through the process. If you’re interested in learning more about the resources PrestigePEO can provide, reach out to us at any time.