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

7 in 10 organizations plan to increase or reallocate mental health spend, renewing their commitment to employee wellbeing
Koa Health publishes new research on 2024 mental health trends revealing that the commitment to employee wellbeing is a primary focus for 2024
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Koa Health, a leading global provider of hybrid mental health care , today releases new data on mental health trends, combining results from an anonymized survey of 500 HR leaders at large organizations in USA, with comments and reflections from managers and mental health experts. To help organizations anticipate some of the key business risks, challenges and opportunities in 2024, Koa Health has compiled the research data into a concise executive summary.

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As the business mental health landscape continues to evolve, companies’ commitment to employee well-being remains a focus for organizations, especially those with workforces of 1,000 or more. Koa Health research, conducted in collaboration with 3Gem Research and Insights , reveals that protecting employees’ quality of life remains the primary motivation behind investment in mental health initiatives. This commitment marks a change in corporate consciousness, recognizing the link between a healthy work environment for both the individual and organizational success.

 

Although virtually all companies (98%) offer some type of mental health support, there is a notable discrepancy in the prioritization of mental health within company culture. Although a wide range of services are offered, only half of the companies surveyed perceive mental health as a primary concern (53%). This underscores the critical need to integrate mental health initiatives more deeply into company culture, beyond simply offering them.

 

Executive teams are keen to strengthen mental health support through various approaches. Their intentions include plans to improve the training of managers (58%) to promote their management of mental health issues in their teams; strengthening psychological safety in the workplace (53%); and encourage more open dialogue about mental health in corporate communications (52%). These strategies reflect a concerted effort to embed mental health support at various layers of the organization, with the goal of establishing a culture in which well-being is prioritized and normalized.

 

These conclusions provide a deeper understanding of the changing landscape of mental health in the workplace, highlighting both the progress that has been made and the challenges that still lie ahead in ensuring comprehensive and sustainable support for the mental well-being of employees.

 

“Today, the world seems to be jumping from crisis to crisis,” said Dr. Oliver Harrison, CEO and founder of Koa Health. “In these complex times, there is record demand for mental health support. As if that were not enough, the supply of mental health professionals is quite fixed due to the time and high cost of training these professionals. Therefore, digital technologies are on the rise: it is their time. At Koa Health we believe that the future of care cannot be 100% in-person (not feasible), nor 100% digital (low involvement, low impact). The future will be human-digital hybrid, and 2024 will see this model become globally scalable!”

 

Dr Anna Mandeville, VP Clinical Director (UK and Asia-Pacific) at Koa Health predicted: “In 2024 we will really focus on learning more about offering support that brings together digital and human care, in the best way possible. The goal of digital assistance should be to improve care and maximize its reach. Until now, there has been no alternative way to provide good support, beyond the patient appointment model.”

 

Stephen Dunne, Chief Product Officer at Koa Health added: “One of the challenges employers face once they have decided to invest in the wellbeing of their team is how to distinguish between services that look good and those that actually help employees. 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 look for companies founded by clinical specialists, with content developed by global clinical experts, and built on validated research.”

 

 

Discover more 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.

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