7 in 10 organizations plan to increase or reallocate mental health spend, renewing their commitment to mental wellbeing

New research from Koa Health finds business leaders are committed to improving their employee wellbeing strategy in 2024

BOSTON, MASSACHUSETTS, UNITED STATES, December 14, 2023 /EINPresswire.com/ --

• Protecting employees’ quality of life remains the top reason organizations are investing in mental health - the same as in 2023
• 79% of HR leaders saw an uptick in mental health benefits use in 2023
• 74% plan to authorize additional spending or reallocate existing budget for mental health
• 98% of employers offer at least one mental health solution or service, however, only 53% say mental health is a clear priority at their organization

Koa Health, a leading global provider of hybrid mental health care, today publishes new research on 2024 mental health trends, combining the results of an anonymous survey of 500 senior HR managers at large organizations across the US and UK with insights from business leaders mental health experts. To help organizations anticipate some of the key business risks, challenges, and opportunities that 2024 will bring, Koa Health has compiled this research in a concise executive summary.

Click here to download the report.

As the landscape of workplace mental health continues to evolve, the commitment to employee wellbeing remains a central focus for organizations, especially those with 1,000 or more employees. Koa Health’s research, conducted in partnership with 3Gem Research and Insights, underscores that safeguarding employees’ quality of life stands as the primary motivation driving investments in mental health initiatives. This commitment signals a shift in corporate consciousness, recognizing the link between a healthy work environment for both individual and organizational success.

Despite nearly all organizations providing some form of mental health support (98%), there exists a notable discrepancy in prioritizing mental health within organizational culture. While a wide array of services is offered, only about half of the surveyed organizations perceive mental health as a primary concern (53%). This highlights the critical need for a deeper cultural integration of mental health initiatives beyond service provision.

Executive teams are poised to fortify mental health support through multifaceted approaches. Their intentions include plans to enhance manager training (58%) for improved handling of mental health concerns within teams, strengthen psychological safety in the workplace (53%), and foster a more open dialogue about mental health in corporate communications (52%). These strategies reflect a concerted effort to embed mental health support across various organizational layers, aiming to establish a culture where wellbeing is both prioritized and normalized.

These insights offer a deeper understanding of the evolving landscape of workplace mental health, showcasing both progress made and challenges that lie ahead in ensuring comprehensive and sustained support for employees' mental wellbeing.

"Right now, the world seems to lurch from crisis to crisis,” said Dr. Oliver Harrison, CEO and founder of Koa Health.

“In these challenging times, we are seeing record demand for mental health support. To make this challenge worse, the supply of mental health professionals is quite fixed because of the time and cost to train someone. Happily, digital technologies are on the rise. At Koa Health we believe that the future of care cannot be either 100% human (doesn’t scale) or 100% digital (low engagement, low impact). The future is human-digital hybrid and 2024 will see this model scale around the world!"

Dr. Anna Mandeville, VP Clinical Director (U.K. and APAC Clinical Director) at Koa Health predicted: “In 2024, we will really lean into learning more about providing care through blending digital and in-person together, in the right way. The purpose of digital assistance should be to make care better and to increase its reach. Until now we have had no alternative way of providing good care, outside of the outpatient appointment model.”

Stephen Dunne, Chief Product Officer and Managing Director at Koa Health added further insights, “One of the challenges facing employers once they decide to invest in their team's mental health is how to distinguish services that sound good from those that really help employees. At Koa Health, we believe that quality of care is key and I believe that more and more employers have the experience and incentive to dig deeper when evaluating potential service providers. They will be looking for companies founded by clinicians, with content developed by world-class clinical experts, and backed by validated research.”

ENDS

About Koa Health

Koa Health provides a high-tech, high-touch approach to care that delivers mental health for everyone, whether they prefer digital-first care or would benefit from clinical services delivered by a human. Available to more than 3 million users worldwide, Koa Health addresses the full continuum of mental health needs—from prevention to treatment.

Backed by leading investors such as Morningside, Ancora Finance Group, Wellington Partners Life Sciences, and MTIP, Koa Health leverages deep clinical expertise, research, and technology to deliver effective and accessible care that adapts to users’ unique circumstances, leading to lasting behavior change and positive health outcomes across the full continuum of mental health.

With operations in Barcelona, the US, and the UK, Koa Health partners with leading clinicians and academics, including Massachusetts General Hospital, University College of London, the London School of Economics, and Birmingham and Solihull Mental Health NHS Foundation Trust.

For more information, please contact us at press@koahealth.com

Lily Schuck
Koa Health
+1 401-441-0567
press@koahealth.com
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