Mental health trends and predictions for 2024, according to Lyra

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Employees' mental health needs are getting more serious and more complex, but employers may not have to look very far to make significant improvements for 2024. 

According to a new report by virtual mental health care platform Lyra Health, 36% of benefit leaders believe employees struggled with severe or chronic depression in 2023, up from 22% in 2022. Leaders are also acknowledging that employees are struggling with PTSD, bipolar, ADHD and other mental health diagnoses that are impacting their overall well-being. 

While employers have made continuous efforts via benefits to address poor mental health and burnout among their employees, it's important to take a look at the workplace itself, says Joe Grasso, senior director of workforce transformation at Lyra Health. Beyond benefits, employers should focus on manager training, and fix a culture of overwork that can lead to burnout or other debilitating employee issues.

"The work environment itself can be a positive and negative factor affecting mental health," Grasso says. "It is [employers'] responsibility to step in and address work overload, workplace violence, bullying and harassment and poor managerial support, which can all increase the risks of psychological distress and burnout." 

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Eighty-three percent of employees say they suffer from work-related stress, and 25% list their job as the top stressor in their lives, according to the World Health Organization (WHO). Unaddressed, chronic work stress can impact an employee's home life, as 76% say work impacts their personal relationships. Additionally, the WHO estimates that globally, 12 billion work days are missed due to stress each year, a cost of $1 trillion in lost productivity and absenteeism

Fortunately, it appears that leaders are getting the memo that efforts to address these issues must be company-wide, and start from the top: 93% agreed manager training was a critical part of a mental health strategy, up from 68% in 2022. Additionally, 68% of benefit leaders plan to offer workshops and peer-led programs to cultivate a more supportive and stigma-free work environment around discussing mental health and well-being. 

"Employers need to invest more in training and accountability measures that ensure managers can become transformational leaders who are equipped with the people management skills needed to retain and engage employees," Grasso says. "Organizations can also encourage regular conversations between managers and their direct reports to manage and share valuable feedback on critical aspects of the work experience." 

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But not all training — or benefits — will be effective across an entire population: Leaders told Lyra their top priority for 2024 is to implement or expand their benefit programs to support BIPOC and LGBTQ employees. Twenty-nine percent said achieving DEI goals was a top challenge for them to address in the new year. Instead of treating mental health as one-size-fits-all, it's important to acknowledge the individualized nature of mental health, Grasso says. 

"More companies want to deepen the DEIB conversation beyond the basics," he says. "That includes matching their diverse workforces with specialized care for unique mental health challenges, and providing greater awareness of mental health needs beyond acute disorders." 

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Combined, these efforts will create workplaces where employees feel more able to manage workloads, and see a future for themselves within their organizations, Grasso says. And leaders are on board: 82% agreed it's their responsibility to create work conditions that prevent these damaging work-related mental health challenges. 

"Employers who understand the challenge of treating the mental health of their employees are those who recognize that a workplace culture of well-being and high performance go hand-in-hand," Grasso says. "More than ever, employees are demanding that their workplaces champion mental well-being. To the extent that those demands motivate employers to provide more support through benefits and healthier ways of working, it's a win for employee wellness and a win for employers' bottom line."

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