Aetna Technology Industry Solutions provides whole health solutions that meet your employees’ unique needs.
High-tech companies rely on their employees to be sharp, innovative, collaborative and productive. But mental well-being issues like anxiety, depression and substance misuse can hinder employee performance. The business cost in loss of productivity and turnover is staggering.
According to the World Health Organization (WHO), mental well-being issues are the leading cause of disability. Depression alone is estimated to cause 200 million lost workdays and cost $17 billion to $44 billion annually.¹ In the worst cases, mental well-being issues can lead to death. Stress, one of the most common mental well-being issues in the workplace, causes an estimated 120,000 deaths each year.²
Even when employees with mental well-being issues can make it to work, there is still a negative impact on productivity. The Society of Human Resource Management (SHRM) found that 61% of workers report their productivity is affected by their mental well-being.3 When these issues make employees feel burned out, Deloitte found that more than 40% will leave their job.4 This turnover costs companies up to 50% of the employee’s annual salary5 to replace them. Taken as a whole, mental well-being issues are estimated to cost U.S. businesses $105 billion each year, mostly due to lost productivity.6
“Prioritizing employee mental well-being is more critical than ever before,” says LaMonte Thomas, Market President of the South Central Territory for Aetna. “By providing behavioral health benefits that cater to the unique needs of your technology employees, you can attract top talent and keep them healthy – ensuring the long-term success of your workforce and business.”
Benefits managers would be well served to shop health plans with enhanced behavioral health benefits. Not doing so could result in an increase of lost workdays, reduced productivity or costly turnover. There may be a light at the end of this tunnel. High-tech companies have a well-earned reputation for being on the leading edge of employee culture and compensation. They now have the chance to lead the way again by offering robust behavioral health benefits. Along with the cultural education necessary to ensure those who need the benefits use them without fear or self-judgment.
Aetna is the brand name used for products and services provided by one or more of the Aetna group of companies, including Aetna Life Insurance Company and its affiliates (Aetna). Information is believed to be accurate as of the production date; however, it is subject to change. Refer to Aetna.com for more information about Aetna® plans.
¹Centers for Disease Control and Prevention. Depression evaluation measures. April 1, 2016. Available at: CDC.gov/workplacehealthpromotion/ health-strategies/depression/evaluation-measures/index.html. Accessed August 26, 2022.
²The American Institute of Stress. 42 worrying workplace stress statistics. September 25, 2019. Available at: Stress.org/42-worrying-workplace-stress-statistics. Accessed August 26, 2022.
3Agonivo T. Society for Human Resource Management. Mental illness and the workplace. August 3, 2019. Available at: SHRM.org/hr-today/news/all-things-work/pages/mental-illness-and-the-workplace.aspx. Accessed August 26, 2022.
4Deloitte. Workplace burnout survey. Available at: Deloitte.com/us/en/pages/about-deloitte/articles/burnout-survey.html. Accessed August 26, 2022.
5Otto N. EBN. Avoidable turnover costing employers big. August 9, 2017. Available at: BenefitNews.com/news/avoidable-turnover-costing-employers-big. Accessed August 26, 2022.
6Mental Health First Aid. Mental health first aid for workplace. Available at: MentalHealthFirstAid.org/population-focused-modules/workplace/. Accessed August 26, 2022.
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