The Mental Health Crisis: A Whitepaper on the Importance of Investing in a Quality EAP
The Mental Health Imperative
Employers seek competitive benefits to attract and retain employees, but budgets don’t go as far as they used to. Inflation is posing a challenge: benefit costs increased by an average of 6% in 2023, averaging $12.77 per hour, or 29.6% of total employee compensation, according to the U.S. Bureau of Labor Statistics.
Despite budget constraints, employees seek new and better benefits, which are critical to both retention and recruitment.
Topping the benefits’ wish list is the imperative for more robust mental health assistance to ad-dress issues such as stress, anxiety, and burnout.