State of Mind
United States

The background on October Health's State of Mind Report

The world is facing a growing mental health crisis.

In the United States, mental health challenges are escalating as diverse socioeconomic and cultural factors converge. Approximately one in five adults in the U.S. experiences mental illness each year, a situation compounded by a complex set of issues including widespread substance abuse, the pressures of a fast-paced and often inequitable economic system, and significant social polarization. While the U.S. has a relatively robust healthcare infrastructure, barriers to accessing mental health services remain significant. These include high costs, lack of insurance coverage, and geographic disparities that leave rural areas particularly underserved. Additionally, stigma around mental health persists, deterring many from seeking the help they need. To effectively address this crisis, the U.S. must enhance mental health funding, improve insurance parity for mental health care, and expand community-based services. Efforts to reduce stigma and promote early intervention, such as through workplace wellness programs and educational campaigns, are vital. Initiatives like those offered by October, which support mental health through digital resources, can play a crucial role in bridging gaps in access and providing timely support for individuals and communities.

Businesses are suffering without realising

Poor mental health has extremely significant costs to businesses:

• Lost productivity. Employees with mental health issues like depression, anxiety, or substance use disorders may be less productive and miss more work. This lost productivity results in lower output and revenue for businesses. Estimates suggest mental health problems reduce productivity and economic growth by up to 4% per year.
• Presenteeism. Some employees may come to work but not be fully productive due to poor mental health. This "presenteeism" still costs businesses money in the form of reduced performance and effectiveness. Presenteeism can be harder for employers to detect but can be even more costly than absenteeism.
• Higher healthcare costs. When mental health issues go untreated, they can lead to more severe health problems and higher healthcare costs. For example, untreated depression can increase the risk of chronic physical health issues, resulting in greater spending on healthcare premiums and services. Providing mental health benefits could help address issues early and reduce long-term healthcare costs.
• Recruitment and retention challenges. If a company does not provide adequate mental health support, it may struggle to attract and retain top talent. In today's market, mental health benefits and a supportive work culture are appealing to employees and candidates. When people's needs are met, they are more likely to join and stay at a company, which reduces costly turnover.
• Safety and risk issues. Poor mental health can impact judgment, focus, and decision making, which may put employee and public safety at risk in some jobs. Proactively supporting mental health and monitoring risks is important for companies where safety is a concern. Doing so could help prevent dangerous incidents and legal issues.