Building robust employment pipelines and a mentally resilient workforce means investing in children’s mental health.
75% of mental disorders begin before the age of 24
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We hear a lot about the mental health crisis facing many young workers today, along with the responsibility of employers to provide meaningful support in overcoming these challenges. A less common connection is that for many of these young people, the mental health issues they struggle with have been part of their lives, in one way or another, since childhood.
It makes sense that kids don’t magically end their mental health issues with high school and college. Today’s students will grow up to be tomorrow’s workers, and if we fail to support their mental health at an early age, that need will only grow.
So how serious is the mental health crisis among children? “It’s not new—it’s been growing for years,” says Joan Steinberg, president of the Morgan Stanley Foundation and CEO of the Alliance for Children’s Mental Health Advisory Board.. “Approximately 1 in 5 children have a mental, emotional or behavioral disorder. Last year, more than 2.7 million young people in the US experienced major depression, with 60% of youth experiencing a major depressive episode untreated.”
Fortunately, there is hope. I recently caught up with Steinberg to discuss Morgan Stanley’s new $20 million commitment to children’s mental health—and how business leaders can take a proactive approach to protecting their future workforce in this area. Here’s what we looked at.
The employment relationship
Steinberg points to a myriad of factors contributing to the mental health challenges of today’s children. “Kids face increasing pressure to perform at school, present their best online, meet family expectations, face financial hardship and enter an increasingly challenging job market for guidance,” she says. “Furthermore, the pandemic has affected children’s well-being in many ways, as have increased screen time, interactive digital environments and increased family internet use.”
The chilling thing is that 75% of mental disorders occur before the age of 24. “According to the CDC, children who face mental stress at an early age may face complex challenges as adults, including difficulty forming healthy relationships, difficulty with finances and maintaining employment, and an increased risk of depression throughout life Steinberg says.
The bottom line is clear: building robust employment pipelines and a mentally resilient workforce means investing in children’s mental health.
“Not addressing these issues — especially early on — can have a huge ripple effect in our society,” Steinberg says. “From a business perspective, serious mental illness is estimated to cost the U.S. economy more than $190 billion in revenue.”
But more importantly, the result of these unresolved struggles is the loss of life. “CDC’s preliminary data for 2022 indicates more than 6,000 children and young adults ages 10-24 died by suicide in 2022,” says Steinberg. “This is unacceptable – and we all need to change this trajectory for the better.”
A new commitment
To build mentally resilient children, Steinberg believes we need to give them the tools to navigate their emotions, cope with stress, and understand how their mental state affects their daily lives.
“At Morgan Stanley, we are doubling down on our commitment to these causes with a special focus this year on early intervention and prevention methods,” she says. “Through our Alliance for Children’s Mental Health, we help build systems in schools and colleges, early learning centers and doctors’ offices that enable them to better address the needs of young people and drive positive change. To date, our work has benefited over 37 million children, caregivers and educators around the world.”
For parents who play a major role in supporting their children’s mental health, Steinberg offers two tips that can be implemented immediately:
1. Practice active listening.
“Create an environment at home where your kids can come to you and feel like they’re going to be heard,” she says. “Active and non-judgmental listening helps children feel safe to voice their concerns before they become bigger problems. It also allows parents to see how their children are doing, help them deal with their problems and escalate to professional help when needed.”
2. Lead by example with your own mental health.
“Listening and encouraging additional healthy habits—like eliminating screens, a balanced diet, exercise, and a good night’s rest—is just as productive as modeling them,” urges Steinberg. “It can be difficult at times, but if we want to ensure a healthy future for our children, we need to take a step back and look at how we are providing a healthy future for ourselves.”
Protecting the future workforce
If the idea of roughly 20% of your future workforce having a mental, emotional or behavioral disorder doesn’t appeal to you, now is the time to start investing in the mental health of the youngest generation.
“Collaboration is essential,” says Steinberg. “We are calling on other donors and corporations to invest in youth mental health and help close the significant funding gap. The last few years have made it clear how dire the situation is. The youth mental health crisis cannot be solved quickly, but it deserves and requires our concerted action right now.”
That involvement can take many forms, whether it’s starting a new program or seeing how mental health overlaps with the philanthropic or advocacy work you’re already doing. The important thing, Steinberg says, is to take action now.
“Advocacy and philanthropic funding are vital as we strive to improve early identification and intervention, access to care and equity in mental health and ultimately ensure a brighter future for our next generation.”
Children’s mental health should be an issue we can all rally around – for the good of our children, our communities and our larger economy. Together we can build a brighter future for the next generation.
