Lower payroll taxes/increase working capital and more productive workers and improved hiring and employee retention
Employers save on average $650 in payroll taxes per W-2 full-time employee annually with no out-of-pocket costs. These net savings increase working capital that can be used to sustain and grow an employer’s business. “When you create an environment of psychological safety and well-being, you create well-being capital, which boosts performance in healthy ways and enhances your bottom line. We are beginning to see data collected to validate the well-being capital model”.1 “Most adults spend at least a third of their employable years at work. The mental health challenges create a cost for employers. Our global survey finds that employees experiencing at least one mental health and well-being challenge (nearly three in five) report worse employee experience metrics. They are three times more likely to experience toxic behaviors and four times more likely to want to leave their organization.”2
1.Quoted from a McKinsey Health Institute (McKinsey Company) interview with Poppy Jaman CEO of MindForward Alliance October 6, 2022
To read the full article click on: Conversation on employee mental health with Poppy Jaman | McKinsey
2.Quoted from October 10, 2022 McKinsey Health Institute article: Present company included: Prioritizing mental health and well-being for all
To read the full article click here: Present company included: Prioritizing mental health and well-being for all | McKinsey
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