Why You Need to Talk About Mental Health in the Workplace and How Technology Is Changing the Way It's Treated Watch four leaders in the evolving space of employee health benefits talk about the changing landscape of mental health and associated insurance benefits in this panel discussion.

By Catherine Clifford

Opinions expressed by Entrepreneur contributors are their own.

Shutterstock

Employers don't want to think about it. Employees don't want to talk about it. But this invisible hand is directly affecting how productive your team is. And for business owners, that's directly affecting your bottom line.

That invisible hand is mental health.

An employee who is battling chronic mental health issues such as depression or situational issues such as work stress is going to be distracted. With the help of a new wave of technology-enabled healthcare companies, employers are starting to understand just how important it is that workers get access to care for both their teeth and minds.

Related: Reality Check: You Need to Care About More Than Your Business

Third-party healthcare technology companies give employees a private forum to talk about their mental health concerns. Those third-party companies are alerting businesses to the prevalence of mental health issues in their workforce, in some cases for the first time.

"We can bring data that says X percent of your population actually says they have issues with depression, and that surprises a lot of people," says Terrence Cummings, the director of business development at Stride Health, a San Francisco-based tech startup that helps independent workers of the gig economy get the health care coverage they need. "There has been a more important emphasis placed upon [mental health care] just generally where there might not have even been before because the problem wasn't known. It just wasn't surfaced."

Cheryl Swirnow, the CEO and co-founder of New York City-based Sherpaa, a nationwide online physician practice for large employers, says that her company has been fielding an increasing number of questions about mental health.

Related: Stress, Anxiety, Loneliness: How This Entrepreneur Lost Himself and Bounced Back Stronger

"When an employee first logs into our site, they tell us they are sick, they are hurt, they need a prescription refill, etc., and one of them is, "I have a mental health concern,' and that is our fastest growing bucket right now," she says. "We are seeing employers getting that information, understanding that their population -- while they might be "young and healthy' (air quotes) -- mental health might is a huge portion of what that is and they try to de-stigmatize that and provide access."

Cat Clifford, Andy Sekel, Terrence Cummings, Cheryl Swirnow and Jordan Goldberg (L to R).
Image credit: Liz Clayman | Talkspace

In addition to providing mental health coverage for employees because it makes them more productive, it's also a way to keep top talent happy. "At the end of the day, it's a retention tool. These benefits become important because if they are not offering them, and competitors are, they might lose out on some key talent," says Jordan Goldberg, the CEO and co-founder of stickK, a New York City-based startup that gets people to publicly sign a "Commitment Contract' with financial incentives to incentivize them to change their behaviors.

Related: Great Entrepreneur, Lousy Lover?

The three founders were speaking at a recent panel on the future of work benefits at the Talkspace Future of Therapy Conference in New York City. (I moderated the panel.) Talkspace is a New York City-based startup that provides therapy services via text and chat.

Watch this video to hear more about the evolution of workplace benefits. A wee note, this is a longer video (36 minutes!) than most of the videos we post, so get comfy.

Wavy Line
Catherine Clifford

Senior Entrepreneurship Writer at CNBC

Catherine Clifford is senior entrepreneurship writer at CNBC. She was formerly a senior writer at Entrepreneur.com, the small business reporter at CNNMoney and an assistant in the New York bureau for CNN. Clifford attended Columbia University where she earned a bachelor's degree. She lives in Brooklyn, N.Y. You can follow her on Twitter at @CatClifford.

Editor's Pick

'Catastrophic': Here's What You Should Know About the Debt Ceiling Crisis — And How a Default Could Impact Your Business
Lock
I Helped Grow 4 Unicorns Over 10 Years That Generated $18 Billion in Online Revenues. Here's What I've Learned.
Lock
Want to Break Bad Habits and Supercharge Your Business? Use This Technique.
Lock
Don't Have Any Clients But Need Customer Testimonials? Follow These 3 Tricks To Boost Your Rep.
Why Are Some Wines More Expensive Than Others? A Top Winemaker Gives a Full-Bodied Explanation.

Related Topics

Business News

7 of the 10 Most Expensive Cities to Live in the U.S. Are in One State

A new report by U.S. News found that San Diego is the most expensive city to live in for 2023-2024, followed by Los Angeles. New York City didn't even rank in the top 10.

Science & Technology

She's Been Coding Since Age 7 and Presented Her Life-Saving App to Tim Cook Last Year. Now 17, She's on Track to Solve Even Bigger Problems.

Angelina Tsuboi, a full-stack mobile and web developer who also happens to be a pilot, has always been solution-oriented.

Money & Finance

3 Ways to Create Multiple (Big) Streams of Income

Here are three ways to create multiple streams of income. These strategies require effort and resources but offer significant financial potential.

Growing a Business

6 Signs It's Time to Hire Employees for Your Startup

At a certain time, your business will begin to scale, and you won't be able to maintain the same output level if you don't have some help.

Leadership

The Real Reason Why The Return to Office Movement is Failing is Revealed in New Study

There is a vivid sign of the disconnect between employees and their workplace, a glaring indication that companies need to revise their scripts to improve their hybrid and remote work policies.