The modern workforce

The mental health landscape

Financial wellness and mental health

Common barriers

Bonus recommendations

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Mental Wellness Benefits

Exploring how employers can
optimize their approach and
increase employee participation

Addressing mental wellness in the workplace has never been more crucial. Employee burnout and the effects of the Great Resignation have called attention to the need for a better understanding of employee expectations and concerns about mental wellness.

With 78% of organizations either currently offering mental health resources or planning to in the next year,1 building and maintaining this class of benefits remains a high priority.

The dynamic and complex modern workforce

The four generations represented in this study all approach the topic of mental wellness differently:

What it
means for employers:

Mental wellness benefits are crucial for every generation. But because these benefits are expected from Gen Z and Millennials, employers should recognize that to attract and retain young talent, they must provide easily accessible
mental wellness resources.

Mental health coverage through medical insurance

A set number of free counseling sessions (EAP)

In-person counseling (outside work)

Top 5 mental wellness benefits ranked by importance to employees

Employees across generations are familiar with Employee Assistance Programs (EAP) and the services an EAP provides. Mental health coverage and counseling are the most common resources offered.

• Explore which mental health benefits are expected from employees
• Consider surveying the workforce and expanding mental well-being solutions
• Know that communication is key
• Remember that easy access to appointments make EAPs more intriguing and lead to higher participation

What it
means for employers:

Financial wellness and mental health are interconnected

It’s proven that financial wellness affects mental wellness. Safety and security
are at stake in both areas, so it’s no surprise one influences the other.

The impact on mental wellness is strongest when financial pressure is highest.
*48% of Gen Z find it has an extreme impact.

Poor mental health decreases motivation and focus at work.

When mental wellness takes a toll, the ability to complete tasks decreases.
And in turn, more resources from the company are needed to recover, negatively affecting finances.

Financial wellness and mental health are interconnected

Those who have the essentials covered feel
less of an impact on their mental wellness,
but still worry about finances as they prepare
for retirement.

What it
means for employers:

• Traditional benefits are not enough
• Employees recognize the need for
  — and expect — a mental wellness
  component in their benefits package
• Consider how mental wellness benefits
  intersect with financial wellness benefits
  for your employees

Securian Financial is ready to help build out your financial wellness program.

Employees report better mental health when their financial situations are manageable and they’re on track to meet long-term financial goals.

You might be thinking:
Yeah, we offer mental wellness benefits,
but almost no one uses them!

Mental health resources are a new concept for a lot of
employees. Even if you offer mental wellness benefits,
it’s common for employees to be apprehensive to use them.
Our study uncovered some common barriers and what employers can do to increase participation.

Barrier 1: Confidentiality

Misconceptions that employers know what services are being used and concerns around accompanying professional backlash creates wariness around utilization.

Boomer and Gen X employees are uncomfortable with counseling in general and are especially worried about the stigma associated with using these types of resources.

What employers can do:

• Reinforce confidentiality
• Detail how employee information is anonymous
  and safeguarded
• Educate older employees — especially those in leadership positions — about how important mental health benefits are for younger employees
• Communicate mental health benefits to older employees in a positive way
• Remember, every colleague's mental health is vital
  to the larger population

of younger Millennial and
Gen Z feel they don’t
have enough time

of full-time employees have mental health days off

You mentioned you haven’t taken
advantage of mental wellness
resources at your company.
Please tell us a little about why.

Barrier 2:
Younger employees
are overwhelmed

While open and eager to using these resources, Gen Z and Millennials are too overwhelmed to research logistics on how to actually take advantage of them, especially when they’re needed the most.

Burnout further dissuades Gen Z and Millennials, as it causes a lack of time and energy to use the resources.

What employers can do:

• Reposition unused time off for mental health resources
• Give employees the space to use mental health resources and normalize their use
• Consider ”Lunch & Learn” or other work time sessions to showcase benefits and explain how to access them

67% of employees who
haven’t used any mental
wellness resources feel they
don’t have a serious enough
issue to access these services.

Barrier 3: Benefits are undervalued

Employees undervalue the versatility of the services provided and feel they are only for the most urgent needs.

What employers can do:

• Prioritize communicating to employees about
  available resources
• Emphasize the range of benefits offered for a
  variety of situations — from more serious struggles
  to proactive measures

Bonus recommendations to increase utilization

Hearing about mental wellness resources from
managers and co-workers is the most effective
communication method, but currently, the
most used channels are emails from HR and
company websites.

Organizations are largely on the right track.
More Millennials and Gen Z are hearing about
these resources from co-workers and managers
compared to Boomers and Gen X.

An easier way to transfer care and access
to more diverse counselors will increase
program utilization.

After included sessions are used, employees
want to know they’ll be able to transfer care
if needed and have the desire to choose
from a variety of qualified counselors and
joining methods.

There is the greatest room for improvement
among mid-size and large employers.

There is a 95% statistical significance that
more Millennials and Gen Z, FTE at smaller
companies, and those working in tech have
used at least one of the mentioned mental
wellness benefits offered by their employer.
Mid- to large-size employers impact a greater
swath of the workforce, but bureaucracy and
less personal communication means benefits
may be less utilized.

Interested in learning more?

Reach out to your Securian Financial representative

All statistics cited are from the Optimizing Employer Mental Wellness Benefits: Exploring key barriers to utilization study.

Generational quotes provided were given by survey participants who were compensated for their time.

Securian Financial is the marketing name for Securian Financial Group, Inc., and its subsidiaries. Minnesota Life Insurance Company and Securian Life Insurance Company are subsidiaries of Securian Financial Group, Inc.