Supporting Employees Through Periods of Stress

Mental and emotional support have always been included in employee health benefits, but they have never been as important as they are today. The pandemic has introduced an entirely new and unimagined set of stressors to everybody's lives — one that colors and exacerbates every other problem that previously existed.

As a business leader you know that the wellbeing of your employees has a direct impact on the health of your business, so a big part of your job is to provide emotional support and make sure that they are taking advantage of the resources that you have made available to them. You may feel alone in this, but a Willis Towers Watson survey conducted in January revealed that 54% of employers who responded cited stress and burnout as their employees' biggest wellbeing challenge, and 62% indicated that employee mental health services and stress management are top priorities for their business. 

Those who are hoping the problem goes away on its own are choosing a risky path. Research done at Tufts Medical Center in 2018 — before the pandemic —  showed that healthcare costs double and even triple when physical disorders are combined with stress, and concluded that mental disorders are the single most expensive category of health problems.

Of course, naming the problem and committing to it is only half of the challenge. Knowing what steps to take is the other half. It's a good idea to consult with the company providing your health insurance coverage to see what suggestions they have, and what they are finding most impactful for other organizations. You can also consider how each of the individual stressors below may be impacting your workers, and devise strategies that help. 

• The virus itself – There are many steps that you can take as an employer to help protect your employees from stress cause by the virus and its related effects. Ensuring that employees have the time they need to get vaccinated or to take care of family members is a good start, and so is taking internal measures such as providing masks and other safety measures within the workplace. If your organization has been targeted by outside groups you can provide security, or where possible allow them to work from home.
  
  
• Job-related stress – Work has always been a source of stress, but the changes brought about by the pandemic have magnified many problems. Though employees who are working from home may feel that their quality of life has improved, there are studies that indicate that holding meetings over Zoom or attempting to communicate with others has increased anxiety and decreased levels of cooperation in some situations. It has also increased internal jealousies between colleagues who can and can't take advantage of remote work. Other employees are experiencing additional stress caused by staff shortages. The first step is to open the lines of communication and make sure that employees let you know how they are feeling so that you can take steps to make improvements. One strategy that has helped some companies has been the introduction and encouragement of physical exercise to boost emotional wellbeing and decrease stress.
  
  
• Family issues – Personal and family issues have always created stress for employees who need to care for young children or elderly parents, or who are simply struggling to find a viable work/life balance. The pandemic has made this infinitely more difficult, as schools and daycares have closed and even everyday activities like shopping and doctors' visits have become more complicated. Understanding the need for flexibility in work hours is key to alleviating employee stress and maintaining worker loyalty.
  
  
• Financial stress – The pandemic has introduced significant financial stress as costs have increased and family incomes have decreased. The more that your employees know about financial tools, personal budgeting, and savings strategies, the more confident they will feel and the less anxiety they will experience.

One of the most valuable tools that you have available are the Employee Assistance Programs (EAPs) that your health insurance coverage includes. Unfortunately, this aspect of your benefits is often overlooked, so make sure that you are familiar with it and that you are promoting its availability to your employees.

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All Articles by Sonu Shukla, CPA, CFP