With the COVID-19 pandemic and importance of equality coming front and center, people all over the world face increased uncertainty and complex emotions.
The challenges run the gamut. The shift to remote work has brought new stresses with things like childcare and homeschooling, and questions as to how and when workplaces will reopen.
Our mission within Workday Ventures is to be a force multiplier for innovation by accelerating the growth of emerging enterprise software companies, including companies focused on employee wellness. We look to these early-stage ventures for insights as wellness strategies become even more prevalent in supporting employees during such a fast-changing and dynamic environment.
Supporting Positive Mental and Physical Well-being
A focus on employee wellness, now more than ever, has to include both mental and physical well-being. Given stay-at-home orders, we are heartened to see an increasing demand and embrace of virtual healthcare for both aspects of care.
In a recent interview, Stephanie Tilenius, CEO at Vida Health, shares that, “Everyone is looking for virtual mental healthcare right now.”
Vida Health, a Workday Ventures portfolio company that offers a network of digital therapists, clinicians, health coaches, certified diabetes educators, and nutritionists to companies like Boeing, Cisco, PayPal, and Visa, says it has seen 15% to 20% week-on-week increases in mental health and stress-related appointments since mid-March, and a 30% to 50% boost in new client interest.
According to Tilenius, just under one-fifth of a company’s employees typically have a mental health disorder, as evidenced on health insurance claims. In recent weeks, that number has risen to between 60% and 70%. “Everybody’s got some level of anxiety with this pandemic,” she said.
Tilenius calls the COVID-19 crisis a “wakeup call” for virtual care. Given continued desires to physically distance even as formal orders relax, virtual care becomes an increasingly convenient and effective way to deliver care. According to Vida, by month seven of using the Vida platform, participants showed an average reduction of 84% in depression scores and an average reduction of 72% in anxiety scores.