State of Mind
United States

The background on October Health's State of Mind Report

The world is facing a growing mental health crisis.

The mental health landscape in the United States faces significant challenges despite being more resource-rich compared to many other countries. High rates of mental health disorders, including anxiety, depression, and substance use disorders, affect a substantial portion of the population. Contributing factors include fast-paced lifestyles, social isolation, and high levels of stress from work, economic pressures, and societal expectations. Although the U.S. has a large number of mental health professionals, access to care remains uneven, with rural areas and marginalized communities often lacking sufficient resources. The mental health system is further burdened by a fragmented care structure and disparities in insurance coverage. Addressing these issues requires coordinated efforts to improve access to mental health services, increase funding, promote telehealth options, and boost mental health literacy to reduce stigma. Companies can play a crucial role by investing in employee mental health support, such as services provided by organizations like October, to ensure that mental health care is integrated into workplace wellness initiatives.

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.