AXA Mind Health Report: Higher Work Stress Seen Among Millennials and Gen Zs

AXA Philippines, one of the largest and fastest growing insurance companies in the country, recently shared the latest results of its AXA Mind Health Report.

According to the report, there is a surge in stress, anxiety, and depression among Filipinos, yet mental health remains stigmatized and overlooked. Raising awareness and fostering open discussions are crucial to ensuring access to support and resources for all.

In this fourth edition, AXA and its market research partner IPSOS, focused specifically on understanding the working population’s mental health and wellbeing issues as well as providing actionable solutions to help mitigate them.

1. Prioritize Mental Health

The 2024 AXA Mind Health Report reveals alarming rates of mental distress among young Filipino employees, particularly 18-24-year-olds, who are disproportionately affected by severe anxiety, stress, and depression compared to older age groups. In fact, 48% of 18-24-year-olds and 42% of 25-34-year-olds reported suffering from mental health conditions, significantly higher than the total population (34%) and their older counterparts.

When it comes to employee expectations for mental health support, 83% of Filipino respondents agreed that mental health benefits and initiatives are very important and will influence their decision to stay in their current company. Specifically, 43% said that companies can better support them by providing access to mental health professionals, while 38% mentioned extended medical policy to cover mental health care.

2. Foster a Culture of Open Communication and Feedback

Many young employees feel unheard and undervalued in the workplace. Based on the report’s Mind Health Index which categorizes an individual's mental well-being into four distinct states: flourishing, representing the pinnacle of good mind health; getting by, describing those who may have some areas of good well-being but not enough to reach the state of flourishing; languishing, representing the absence of positive wellbeing; and struggling, reflecting the absence of wellbeing in most areas – a significant portion of under-25s is "languishing" or "struggling" with their mental well-being, often due to difficulty in acknowledging their own challenges or seeking assistance.

29% of the surveyed Filipinos said that training/coaching to managers on how to be a good people manager can help them have a better workplace experience. Two out of three would also ask support from their manager due to work impact on their psychological well-being. This means that employees are open to share their thoughts, ideas, and concerns, if given the opportunity such as during regular check-ins, one-on-one meetings, or team discussions. Actively seeking feedback and acting on it may also show employees that their opinions matter.

3. Promote Work-Life Balance

A third of the surveyed individuals in the study admitted experiencing burnout, with a higher incidence among the youth. This is because young professionals are more likely to find work demands unmanageable, making it difficult for them to keep up with the pace of change. Additionally, they may lack the soft skills needed to better manage their workload, as they are just beginning their careers.

Beyond offering flexible work arrangements, such as remote work options, flexible hours, and generous vacation policies, 38% of surveyed Filipinos said that it’s important for them to also have mental health care days, or any programs that encourage them to take breaks, disconnect from work during non-work hours, and prioritize their well-being.

4. Provide Opportunities for Raising Mental Health Awareness

The report further analyzes that younger generations are particularly affected by issues such as technology addiction, social media, body image, and uncertainty about the future. When these concerns are coupled with lack of proper guidance and awareness, they can lead to feeling lost and disengagement.

While learning and development training sessions for career advancement encourage employees to explore their interests and develop new skills, 49% of Filipino respondents shared that they also appreciate access to comprehensive mental health resources, including workshops that improve their mental health knowledge and practice. Such special well-being courses can help them better manage and understand certain psychological stress that they may experience at work.

5. Create a Positive and Inclusive Workplace Culture

Of the total respondents that experienced burn out due to work, two out of five were not satisfied with the way their company reacted or provided support. This shows how further companies still have to go.

The report also identified common obstacles to care among young people, including stigma, financial concerns, and apprehensions regarding confidentiality. This emphasizes the need for more young people to access the right support and find a safe space that can safeguard their mental well-being during this crucial phase of their lives. A workplace that openly celebrates diversity, encourages teamwork, and recognizes employee contributions, not only fosters social interaction and team building but also strengthens relationships and, ultimately, cultivates a sense of community.

Rea Villa, senior psychologist of Mind You, emphasized, “Initiatives like these not only provide immediate relief from stress but also play a crucial role in building psychological resilience over time. Regular access to counseling and mindfulness practices can significantly reduce the risk of long-term mental health issues, such as anxiety and depression, by equipping individuals with coping mechanisms and promoting emotional regulation.”

Through its partner, Mind You, an organization committed to providing cost-effective, accessible mental health support for both individuals and large working communities, AXA Philippines offers healthcare and critical illness plans that cover mental health counseling by licensed psychologists.

Within the organization, AXA recognizes the importance of employee well-being and has implemented various programs and initiatives to support its workforce. A range of Mind Health initiatives were made available such as access to free counseling services, stress management workshops, and mindfulness programs.

For more information about AXA Philippines' commitment to holistic well-being for all, visit https://www.axa.com.ph.

ABOUT AXA PHILIPPINES 

Established in 1999, AXA Philippines is one of the largest and fastest growing insurance companies in the country. It offers financial security to close to 2 million individuals through its group and individual life insurance as well as general insurance products. 

AXA Philippines is one of the first to introduce bancassurance operations in the country and is among the pioneers in the investment-linked insurance sector. 

AXA Philippines is a joint venture between the AXA Group, headquartered in France, GT Capital Holdings, Inc. (GT Capital), a leading listed conglomerate in the Philippines, and Metropolitan Bank and Trust Company (Metrobank), one of the Philippines’ largest financial institutions. It is duly recognized by the Insurance Commission and has the following licenses to operate: 2019/37-R and 2019/40-R. 

FOR MORE INFORMATION: 

Media Relations:                                            

Rochelle Rivera                         

rochelle.rivera@axa.com.ph 

Abbie Remo

abbie.remo@axa.com.ph