Mental Well-Being Coaching is the Future
By Alex Simmons — Co-Founder & CEO
My Story
For most of my life, I lived on auto pilot completely unaware of the enormous possible benefits of taking care of my mental well-being. Like many people, it wasn’t something that was often talked about in my home growing up, if at all. As a high functioning student and competitive athlete, I found myself constantly faced with feelings of stress and anxiety. Coming out of college and working in the notoriously rigorous disciplines of investment banking and private equity, my belief that constant stress and burnout is normal and to be expected was validated. Except there was something that didn’t align. While my colleagues and I experienced similar emotional turmoil, very few would or could or knew how to address it. In hindsight, there was a complete lack of awareness around the tools and resources available to address our distress and improve our mental well-being.
My wife first introduced me to talk therapy, meditation and coaching. What a life-changing experience it has been and one I strongly recommend to anyone who reads this! In my own growth, I started to understand where my feelings of stress and anxiety were coming from – fears of not being good enough, potential failure, inadequacy, unworthiness and even shame. It turns out that my fears and others are an epidemic in Western society. Knowing this, I value my experience in developing life skills to respond to difficult thoughts and challenges. I appreciate that personal growth is a lifelong journey, but I’m extremely proud and excited about the progress I have made so far and the person I am becoming through this journey. As I continue to move forward, I look with great comfort at the incredible support system around me that allows me to continue growing in a safe space without judgment.
Current State of Mental Health in the Workplace
It’s important to note that I was introduced to my mental well-being journey outside of the workplace. In my experience, mental health in the workplace has been delivered through various Employee Assistance Programs (“EAPs”). This is how 75-80% of all companies take care of their employees’ mental health. While these programs certainly serve an important role in the workplace, EAPs are largely geared towards crisis management and intervention (focused on suicide prevention, major life traumas, etc.) rather than addressing day-to-day mental well-being needs. Consequently, there is a heavy stigma associated with using EAP services, as evidenced by an average employee utilization rate across the country of only 1-3%. Employees don’t want to be seen as “needing help” or “being crazy” in the workplace.
The Case for Investing in Your Employees Mental Health
As we continue to work through a stress & anxiety epidemic in our country, which has only been exacerbated by the many stressful events of 2020, it has never been more vital for employers to think critically about the mental health benefits they offer their employees. Just “checking the box” is no longer an option if you want to be able to recruit and retain top talent. Beyond recruiting and retention, poor mental health in the workplace is costing employers in the US an estimated $300BN annually related to rising healthcare costs, absenteeism, lost productivity and turnover. With Millennials and Gen Z’s now making up a majority of the workforce, it is clear that employees’ perception of mental health in the workplace is changing:
50% of millennials and 75% of Gen Z’s have left a job for mental health reasons (The American Heart Association national survey on mental health – 2018)
85% report that mental health benefits are important when evaluating a new job (Mindshare Partners’ Mental Health at Work – 2019)
90% of employees admit to performing better when their company supports their emotional wellness (15Five — The Next Generation Workplace 2019)
According to a recent survey by Optum Health, businesses are taking note of these trends and starting to take action:
87% of employers are concerned with the lack of employee access to behavioral health services
More than 80% of employers expect spending on health & wellness programs to increase over the next three years
88% of employers have plans to address the mental health stigma within a year
Why Boon Health Works
Boon’s mission is to make mental well-being more attainable in the workplace. Our philosophy is simple: consistent, goal-oriented, personal coaching relationships are the best way to proactively create mental well-being in the workplace and build a happy, productive, and engaged team. We partner with businesses by connecting their employees with ICF-Accredited coaches and masters-level therapists, creating a confidential one-on-one relationship for exploring the ins and outs of everyday life. We are the perfect complement to an EAP. Rather than targeting crisis intervention, our coaches are trained to handle everyday challenges that the modern-day employee is working through including general stress and anxiety, burnout, work/life integration, remote work isolation and professional development.
Don’t believe that Boon is the kind of resource that employees are looking for? Take a look at what we are seeing from our customers:
25%+ average employee utilization (compared to 1-3% EAP average utilization)
90% of employees using our coaching services sign up for multiple sessions with their Boon coach
50% of the employees using our service have NEVER USED COACHING OR THERAPY BEFORE
20% average increase in resilience score for every employee who uses their Boon coach for six sessions or more (measured by the CD RISC-10) survey
We have created an approachable means for employees to address what is going in their life in a way that doesn’t make them feel isolated or stigmatized. We are serving as a gateway for the employees to start taking care of their mental well-being before reaching crisis mode. We are also creating statistically significant improvements in resilience, which enables employees to be a more productive, engaged and overall happier version of themselves in the workplace. As mental health continues to become a core benefit employees value in the workplace, it is critical for businesses to offer programs their employees actually want to use and derive value from. We are confident that Boon, and our personalized mental well-being coaching platform, is the most productive path to get there.
