Fri, 12 March 2021 | demographics health
One year into the COVID-19 pandemic, a new study shows younger workers (ages 18 – 40) are struggling the most with mental health and substance abuse. Fifty-nine percent of Millennials and 71% of Gen Z workers now report mental health issues as compared to 22% of Boomers and 35% of Gen Xers. Serious mental illness jumped from 10% to 16% of Millennials since the pandemic began, compared to a 3% increase in Gen X workers and a 1% increase in Boomers. The latest data comes in an effort to understand the state of workplace behavioral health since the start of the COVID-19 pandemic. The Standard and Versta Research conducted the 2020 Behavioral Health Impact Update to complement the original 2019 Behavioral Health Impact Study, released prior to the coronavirus outbreak.
Data from the 2020 study shows Millennial and Gen Z workers are more likely to miss work for mental health treatment, and many avoid treatment because of work concerns. While half of workers overall report problem use of alcohol, drugs or prescription medication over the past year, Gen Z in particular struggles with addiction or substance abuse affecting their work.
“Millennials and Gen Z have helped change the conversation around mental health, and it’s time to meet them where they are,” says Melissa Oliver-Janiak, senior director of Benefits and HR Service Center at The Standard. “Employers must break down old stigmas and provide employees with easily accessible support to improve physical and mental health.”
According to the study, younger workers, especially Gen Z, were found to be the least knowledgeable about work resources and benefits they can turn to for help. Offering comprehensive employee benefits options that directly address mental health and substance abuse issues, and regularly communicating those benefits are ways employers can create supportive workplaces that promote behavioral health.
Source: The Standard
News and insights about consumer and demographic financial trends
The Hidden Cost of Idle Cash: What the Vanguard Survey Reveals About America’s Savings Habits
Consumers Growing Cautious Amid Rising Inflation and Economic Uncertainty
US Taxpayers Say Tax Refunds are a Financial Necessity
Consumer Pessimism Grows Despite Stable Long-Term Inflation Expectations
Economic Uncertainty and Inflation Impact Retirement Prospects for Americans
AARP Survey Reveals Alarming Retirement Savings Trends
Hispanic Consumers More Optimistic About Finances
Homeowners Facing Increasing Insurance Rates
U.S. Foreclosures Increase In First Quarter
Consumers Perceive Less Buying Power Despite Lower Inflation