How to Reduce Stress in the Workplace: 3 Tips to Start

How to Reduce Stress in the Workplace: 3 Tips to Start

How to reduce stress in the workplace: 3 tips to start. May is Mental Health Awareness Month and here are three ways employers can reduce stress, boost morale and attract talent for better employee morale and a more productive workplace.

Forty-eight percent of employees have cried at work when stressed out, according to a recent report by Ginger. More than 80 percent of employees say they are stressed on a regular basis and 45 percent of workers under 40 are extremely stressed on a daily basis.

Stress has a significant impact on morale and productivity in the workplace. Employees report that they are fatigued, anxious, lacking focus and engagement, irritated with coworkers, producing lower quality work, missing work and missing deadlines.

Less than 30 percent of the workforce seeks professional help for stress. Others cope with stress through self-help books, or worse, a third of employees don’t do anything. More than 90 percent of workers believe their employer should care about their emotional health and 85 percent look at behavioral health benefits when evaluating a new job.

Reducing stress and supporting mental health in the workplace is a win-win. There are three areas where organizations have an opportunity to tackle stress, boost morale and attract talent.

Boost Benefits to Reduce Stress

The good news is that 50 percent of employees are more likely to do something proactive about their emotional and mental health than they were 5 years ago. The bad news is that even if an organization offers behavioral health benefits, employees might not be able to use them. The most common barriers to care are high copays for mental health services and a lack of providers who are in-network.

Employers are getting creative to break through some of these barriers. Ocean Spray, which makes cranberry drinks and sauces, recently announced that it will waive behavioral health copays for its roughly 2,000 employees beginning this summer.

Other organizations are striving to give employees access to more providers who are in-network by adding onsite behavioral health clinics or telemedicine providers that offer on-demand teletherapy or telepsychiatry.

Reduce Stress with Office Environment

There are many elements of office design that can either increase or decrease stress. A recent study found that natural light or views of the outdoors were the most sought after office design perks, outranking onsite cafeterias, fitness centers and onsite childcare. Another study looks at how different colors can affect employee productivity and communicate messages about your brand.

Employers can also create a workplace culture that’s less stressful by encouraging employees to take five minutes a day to be less stressed. Whether it’s spent meditating, taking a walk, journaling, taking deep breaths, grabbing a coffee, or googling ‘ways to reduce stress’, it’s five minutes where employees can tune into themselves and get back to work with renewed focus and productivity. It’s only five minutes and it demonstrates to employees that you genuinely care about their emotional wellbeing, even if they don’t participate.

Flexibility to Reduce Stress

Half of workers report missing at least one day of work per year due to stress, anxiety, or some other emotional or mental health challenge. Organizations that offer more flexibility around scheduling can give employees an opportunity to slow down when they’re stressed out.

Flexible work arrangements provide employees with a certain flexibility in determining when and where they work. The two most common flexible work policies are work from home policies and unlimited paid leave policies. When an employer develops a new flex work policy it’s best to find the mid-point between organizational demands and workforce needs.

More on Stress and Mental Health in the Workplace:

Stress, Money and Millennials: Where’s the Pain Point?

How High is Work-Related Stress and What’s Causing It?

How to Support Mental Health at Work

Zombie Employees: Who Are They and What Do You Need to Know?

What’s the Best Move When Your Employees Are Stressed About Healthcare Costs?

Revealing Research on Financial Stress and Productivity

Research Says Employees Want Financial Wellness Programs

Research Says Employees Want Financial Wellness Programs

A recent study from Bank of America shows employees and employers agree that financial wellness programs have positively impacted them and their companies.

The research is in, and employees want financial wellness programs. A recent Bank of America study found that 91 percent of employees who participate in financial wellness programs say those resources have helped them. Similarly, 95 percent of employers who offer those programs agree that these support systems have been effective in reaching their company’s goals.  

Financial wellness programs provide tangible benefits to the businesses that offer them, including greater employee satisfaction, improved productivity, lower turnover rates and potentially decreased company healthcare costs.  

Lisa Margeson, head of retirement client experience and communications at Bank of America Merrill Lynch, said companies are increasingly providing these programs to their employees because they realize it’s the right thing to do. Financial wellness, she said, is becoming more comprehensive.

“Financial wellness is more than just planning for retirement,” Margeson said. “It is really becoming more of a holistic conversation with employers and employees about all of the financial priorities that individuals can benefit from understanding, being educated on and planning for.”

But here’s the problem — less than half of employees are offered financial wellness plans, and when they are, only 31% of those employees participate. Employees don’t take advantage of these resources for a variety of reasons. Some don’t understand how to use or find their programs, desire more personalized help than the platforms offer or are simply too busy to utilize them.  

The best way to increase participation, according to the study, is to offer cash incentives or discounts to participants.

Participation in these programs is key for many members of the workforce, as nearly 40 percent of employees report feeling financially unwell. These workers say they’re prevented from achieving fiscal wellness because they’re afraid of making mistakes, or are uncomfortable thinking about finances, among other barriers.

“Employees who don’t feel they’re financially well are most concerned about short-term goals…like managing their immediate debt or budgeting skills,” Margeson said. “Employees who do feel financially well are most concerned about longer-term goals, so preparing for retirement and good savings habits.”

Employees agree that the most helpful resource in improving financial wellness is advice from a professional, which is included in some programs. But specificity is key. Employees want these programs to address their specific goals, and offer a way to evaluate their unique financial health. Seventy percent say they would be comfortable sharing financial info as a part of an employer-offered financial assessment.

The report recommends offering financial wellness programs as a distinct benefit separate from other benefits such as 401(k) plans and health plans. To drive engagement, it recommends employers provide tangible rewards or incentives for employee participation, establish baseline engagement levels and measure improvement. You can bring financial wellness to your workplace with Best Money Moves. Best Money Moves is a mobile-friendly, online financial wellness platform that offers comprehensive financial education to employees of all ages. Our nationally-certified Money Coaches provide personalized advice to your employees about a myriad of financial situations. We run contests with cash rewards to incentivize your employees to use our system, and offer budgeting tools and calculators to help them manage their financial wellbeing. Click here to learn more about Best Money Moves and whether or not it might be right for your company.