Financial Wellness & Productivity: Mental Health Includes Financial Health

New data suggest PTSD is driving stress levels up, reducing resilience and cognition, among employees in the COVID era

The Mental Health Index: U.S. Worker Edition (the Index) tells us that post-traumatic stress disorder is driving up stress levels and reducing employee resilience and cognition. The risk of PTSD compared to pre-COVID-19 levels: up 56 percent.

From Human Resource Executive: “This new data suggests that employees continue to struggle with mental health challenges as a result of the COVID era and that employers must remain focused on support,” says Colleen McHugh, executive vice president of the American Health Policy Institute and strategic adviser for HR Policy Association, which are among the partners involved with the Index. “Large employers are ever-sensitive to employees’ needs, developing new mental and behavioral health benefits in addition to other forms of support as most workplaces transition back to an in-person environment.”

Many employers have taken giant steps forward in their mental health benefits and support during the pandemic, and the smart ones are “moving toward long-term mental health planning,” said Katy Riddick of One Mind at Work, another of the partners behind the Index, on a webinar about the Index.

The right mix of benefits and resources to support the long-term mental health of your employees will recognize that financial health is mental health and that financial stress makes workers less productive. Solving for long-term mental health involves among other things solving for stress from everyday money worries, which have worsened during the COVID-19 pandemic.

The literature on financial wellness and productivity suggests that investing in Employee Financial Wellness Programs (EFWPs) offers a competitive advantage and can lead to improved mental health and productivity, reduced distractions, increased engagement, and enhanced organizational commitment.

While the literature is important, we also see these benefits and the personal impact our coaches are having everyday with our clients. As David says, “Working with TrustPlus personal finance coach Tiffany has definitely helped my mental health.”