ComPsych Corporation, a provider of mental health and absence management services, says a new study finds that mental health leaves of absence increased by a third in 2023 over the prior year. This continues a years-long trend: ComPsych data shows that from 2017 to 2023, mental health related leaves of absence have increased a stunning 300%.
This increase has largely been driven by female employees. In 2023 nearly seven in ten (69%) of mental health related leaves of absence were taken by women. Of these, a third (33%) were taken by millennial women, followed by Gen X women who accounted for 30% of mental health related leaves.
“Our data shows that millennial and Gen X women are most likely to need a mental health related leave of absence,” said Dr. Richard A. Chaifetz, Founder, CEO and Chairman of ComPsych. “HR teams must invest in resources and programming that relates to issues commonly faced by these demographics: from the pressures of managing teams, the stress of buying a home for the first time, acclimating back at work as a new parent, or worrying about care for aging relatives.”
“As the leader in the integration of mental health and leave administration, we have a unique view into how these two areas intersect,” continued Dr. Chaifetz. “It’s clear that proactively investing in employee mental health is a key strategy for HR teams trying to mitigate the cost and impact of employee leaves of absence.”
Thanks for reading CPA Practice Advisor!
Subscribe Already registered? Log In
Need more information? Read the FAQs
Tags: Payroll
