According to CBInsights' State of Mental Health Tech 2021 Report, mental health technology funding soared last year, with companies bringing in $5.5 billion globally across 324 deals. That amounts to a 139% climb from 2020, when startups scooped up $2.3 billion across 258 deals. A surge of interest in mental wellness services during the pandemic has created new opportunities for businesses. The report found that the pandemic has been a major driver of growth in the mental health tech industry, with investors pouring billions of dollars into startups offering everything from online therapy to workplace wellness programs. And it's not just big tech companies that are getting in on the action: a number of insurance companies and healthcare providers are also launching their own mental health offerings.
In the past, we used to only worry about physical health and safety. Now, thankfully, we're moving towards a time when people are starting to understand that good mental health is also important. Every workplace on the planet involves people. And when you put people together in one place, the mix of personalities, money, priorities, and pressure can start to cause tension. Good mental health is important for everyone. Leaders have a lot of responsibility. Not only are they responsible for their own mental and emotional wellbeing, but they're also responsible for the wellbeing of their team. And, of course, they're also responsible for achieving results that investors are happy with. It can be a lot to juggle, and it's no wonder that so many leaders struggle with mental health issues. Leaders play an important role in safeguarding the mental health of people in the workplace. Leaders control the flow of work and set the goals and expectations. As a result, they have a direct impact on the stress levels of those they manage.
The good news is that there are things leaders can do to mindfulness of mental health for their team. One of the most important things is to create a culture where it's okay to talk about mental health. This means normalizing the conversation and creating an environment where people feel safe to speak up about their struggles. It also means being open about your own mental health journey and setting the example for others. When leaders are mindful of their own mental health, it sets the tone for the rest of the team. Leaders who can strike the balance between promoting mental health and achieving results will be more successful in the long run.
Mental health is often viewed as something different from physical health, but in reality, they are very closely linked. Just as our physical health can suffer from poor diet and lack of exercise, our mental health can be adversely affected by stress, anxiety, and other negative emotions. And just as we take steps to maintain our physical health, we should also make an effort to care for our mental wellbeing. When we do so, we not only improve our own lives, but we also create a more positive environment for those around us. By addressing mental health as we do physical health, we can all benefit.
By Dean Miles
Keywords: Startups, Business Continuity, Mental Health