As today is World Mental Health Day, companies are thinking about how to address this issue.
Results from the 2023 Workplace Wellness Survey published on Oct. 9 by the Employee Benefit Research Institute (EBRI) and Greenwald Research found that 74% of American workers are moderately or highly concerned about their workplace well-being. A total of 1,505 American full-time and part-time workers ages 21-64 were interviewed for the survey.
In addition, nearly three-quarters of the workers reported a similar level of concern about their emotional well-being or mental health and a quarter rate their mental health as fair or poor.
Key findings in the 2023 survey report include:
- One in three (29%) workers are highly concerned about their own workplace well-being, while another 44% are moderately concerned. Approximately one quarter (26%) of American workers are not too or not at all concerned.
- A third of workers report that they are highly concerned about their emotional well-being or mental health and a quarter rate their mental health as fair or poor.
- Workers are worried about how potential economic challenges will impact their finances. More than four out of five American workers are at least somewhat concerned that there will be a recession in the next year or that inflation will remain high for at the next 12 months.
- Four in ten workers feel at least somewhat prepared to handle an emergency expense of $5,000. Far more workers (70%) feel equipped to manage an unexpected expense of $500.
- Down slightly from last year and from 2021, 40% of employees are extremely or very satisfied with their benefits package and 22% are not too or not at all satisfied. At the same time, seven in ten agree at least somewhat that their benefits package is designed to meet their lifestyle and/or family needs.
- More than half of workers feel mental health benefits have become more important to offer in the past year and four in ten feel the same way about financial wellness programs.
- Health insurance is the most important benefit. Fifty-five percent of workers are satisfied with their health coverage.
- Nearly six in ten American workers struggle to balance work and caregiving responsibilities. Among caregivers assisting with activities of daily living or instrumental activities of daily living, three in four struggle to find balance.
- Six in ten employees do not feel financially prepared for being unable to work or reducing work hours to provide care. Caregivers are more likely to feel unprepared (64% vs. 56%).