For the team at monday.com, wellness benefits are an opportunity to target a crucial intersection of work and life: stress.
According to the American Psychological Association, the average American rates their stress levels at a five out of ten. The long-lasting effects of the pandemic have also played a role in stress levels, especially in the workplace. A 2023 survey from the Business Group on Health revealed that 77 percent of employers noted an increased need for mental health services in the workplace, with an anticipated 16 percent increase for 2024.
To get a better understanding of how today’s businesses are addressing employee well-being, Built In NYC checked in with monday.com’s Benefits Manager Ashley Mercurio and benefits experts from MassMutual, Headway and Click Therapeutics for an overview of their wellness offerings
MassMutual is a life insurance and financial services company that helps customers secure their future and protect the ones they love.
What are some of the key ways MassMutual invests in the well-being of your employees?
At MassMutual, we focus on providing holistic and flexible benefits. We know there’s much more to our employees’ lives than the work they do for us, and we honor that. That means we have core benefits like medical, dental, 401(k) and generous vacation time, but we go far beyond that to offer meaningful benefits that support our employees’ full, unique lives. For example, we offer a $5,000 annual charitable contribution match and paid time off for employees to volunteer for causes they care about. We also offer resources like health coaching and fitness classes, both onsite and virtual. We’re always seeking to increase the breadth and flexibility of what we offer, ensuring our benefits meet employees’ diverse needs at each stage of life.
Part of this is empowering employees to prioritize who and what is most important to them. From bereavement leave where employees can define who their loved ones are, to generous caregiver leave, we want employees to be there for the ones they love.
This is just a snapshot of some of our benefits. It’s not about industry standards — it’s about supporting all employees’ well-being in ways that are meaningful to them.
“It’s not about industry standards — it’s about supporting all employees’ well-being in meaningful ways.”
The last couple of years have been especially taxing on people's physical and mental health. How has MassMutual adapted or expanded its benefits offerings to support employees' needs and meet them where they are?
Mental, physical and financial health are core components of our flexible and holistic well-being strategy. We offer MassMutual employees and members of their households access to a range of free, confidential mental health resources. As an example, all employees and members of their household have access to virtual and in-person counseling and coaching resources through a personalized care plan.
There’s also our $1,250 annual “Well-Being Wallet” to support employees on their wellness journeys. The results have been phenomenal. The diversity and flexibility of what is eligible is critical. We believe in giving employees the resources and the freedom to choose the most fulfilling wellness path for them.
HOW MASSMUTUAL EMPLOYEES INVEST IN WELL-BEING
In 2023, nearly 90 percent of MassMutual employees spent their “Well-Being Wallet” funds on things like:
- Physical health: gym memberships, exercise equipment, etc.
- Mental health: art supplies, spa treatments, etc.
- Financial health: student loan payments, 529 plan contributions, budgeting software and child/eldercare expenses
Monday.com provides a work operating system that helps teams work together and promotes a culture of transparency and empowerment.
What are some of the key ways monday.com invests in the well-being of your employees?
Wellness is a key vertical of our people strategy in the Americas at monday.com. Now more than ever, we are noticing that a company’s benefit offerings are a major factor in a person’s decision to join or stay at an organization. We look at it from a holistic perspective –– not only taking into account our employee’s physical health but also mental and financial well-being.
“We look at it from a holistic perspective –– taking into account our employee’s physical, mental and financial health.”
Beyond the open enrollment period, we host wellness and benefits-related events throughout the year to remind our people of our vast benefits offerings and keep them engaged. From wellness fairs with fun activities that promote healthy lifestyle choices to hosting quarterly financial wellness sessions with our third-party vendor, we’re always looking at benefits from a holistic perspective and trying to incorporate our offerings into our day-to-day.
The last couple of years have been especially taxing on people's physical and mental health. How has monday.com adapted or expanded its benefits offerings to support employees' needs and meet them where they are?
At monday.com, we take employee feedback very seriously and conduct surveys to see how we can update or improve our benefits offerings. For example, last year we saw an uptick in interest in mental health offerings, so we revamped and enhanced our mental well-being perk to provide 12 free sessions with a mental health professional to all employees in the United States, as well as free Calm app subscriptions.
We go beyond the standard benefits offerings to prioritize mental and physical health, with all of our global offices designed with well-being, tranquility and comfort in mind. For example, meditation rooms have been a staple in monday.com’s offices around the world –– it's a great place for our employees to use them as they need for reflection, quiet time and small catch-up sessions. Moreover, in our New York City office, we offer weekly yoga and sound meditation classes to support mental clarity and emotional balance and club sports teams to empower our employees to stay active.
Headway is a healthtech company that offers a platform for customers to easily access mental healthcare with fewer financial barriers.
What are some of the key ways Headway invests in the well-being of your employees? Be specific.
In 2023, Headway’s people team overhauled our benefits offerings by listening to and incorporating employee feedback and partnering with benefits brokerage partner Nava. Headway expanded our family leave policy from 13 to 16 weeks, introduced a partnership with Carrot which offers fertility and family forming benefits, increased our employer contribution to healthcare premiums for family plans and rolled out employer-paid life insurance and disability insurance.
In addition, we expedited benefits eligibility for new hires to ensure they have coverage on day one of employment versus having to wait until the following month.
Other ways that Headway invests in our employees is by offering flexible PTO, an annual work-from-home stipend, a monthly telecommunications stipend, an annual professional development stipend and a monthly commuting reimbursement for our two offices in New York and San Francisco.
The last couple of years have been especially taxing on people's physical and mental health. How has Headway adapted or expanded its benefits offerings to support employees' needs and meet them where they are?
As a company whose mission is to build a new mental healthcare system that everyone can access, Headway strives to live our values by ensuring that employees have affordable and easy access to mental healthcare. We do this through a few ways: In addition to providing standard offerings such as an Employee Assistance Program, Headway generously reimburses out-of-pocket therapy costs for employees, up to IRS limits, to minimize the expense of mental healthcare. Headway also encourages employees to block their therapy session times on their calendars during the work day to ensure that all employees have the space they need to attend their sessions and prioritize their mental health.
“Headway strives to live our values by ensuring that employees have affordable access to mental healthcare.”
Click Therapeutics delivers safe and effective software prescription medical treatments to patients in need.
What are some of the key ways Click Therapeutics invests in the well-being of your employees?
Our company understands that a healthy, engaged workforce is a productive and successful one. That's why we offer a robust benefits package designed to support our employees across multiple areas of well-being. Our lifestyle spending account, a wellness fund, provides flexible resources employees can use for a wide range of health-promoting expenses, from gym memberships to ergonomic home office equipment. Additionally, our mental health-focused community resource groups create a safe space for employees to connect, share experiences and advocate for resources that support mental well-being within the workplace.
“Our company understands that a healthy, engaged workforce is a productive and successful one.”
We believe in continuous growth and support both personal and professional development. Our unlimited PTO policy allows employees to take the time they need for rest, relaxation and attending to personal matters without unnecessary time tracking. Additionally, our professional development stipend empowers employees to enhance their skills and knowledge through courses, conferences and other learning opportunities.
The last couple of years have been especially taxing on people's physical and mental health. How has Click Therapeutics adapted or expanded its benefits offerings to support employees' needs and meet them where they are?
Recognizing the strain of recent years, our company has prioritized proactive steps to support employees' holistic well-being. We understand that well-being extends beyond traditional benefits, which is why we've introduced initiatives like quarterly sound baths, both in-office and virtual, to foster relaxation and mindfulness. Additionally, to ease the everyday burdens that impact mental focus, we've partnered with a vendor specializing in childcare, eldercare and pet care assistance.
Furthermore, we've made significant investments in physical health and family well-being. We've upgraded to United Healthcare, one of the largest provider networks nationwide, increasing access to care. Our company offers fully paid parental leave and a dedicated fund to support employees on their family-forming journeys. Finally, to emphasize preventative care, we cover the cost of One Medical membership for every employee, ensuring accessible and convenient primary healthcare services.
