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Improving Employee Retention
business SPOTlight
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Improving Employee Retention
Boon Health: a go-to resource for businesses looking to retain top talent.
STACY GITTLEMAN CONTRIBUTING WRITER
Launched on the precipice of the pandemic and the ensuing Great Resignation, Birmingham-based Boon Health is a new employee-retention tool that is serving at the intersection of mental well being and professional development. The company’s diverse team of certified coaches are working with more than 50 companies across the country, ranging from the Detroit Lions to the Mars Agency, a global marketing firm.
Boon was founded by Alex Simmons, 31, a CPA who became accustomed to stress, anxiety and burnout through his work in the high-stress environments of investment banking and private equity. “When I was working in investment banking, I came to realize that everyone was stressed and burnt out, and my employer at the time didn’t have any resources to take care of us besides an old, antiquated Employee Assistance Program,” he said. “That is when I found meditation, therapy and coaching outside of work — all of which had a transformational impact on my life and made me realize there was a massive void in the workplace around companies taking care of their people. Enter Boon!”
When it comes to mental health benefits, Simmons said about 80 percent of mid- to large corporations have employee assistance programs. But these programs address employees’ needs only when they reach a crisis mode, such as severe mental illness, suicidal thoughts or substance abuse and addiction. Think of it as a dental plan that doesn’t cover routine preventative care until a patient needs a root canal.
Crafting a new business model, the 2019 graduate of University of Michigan’s Ross School of Business launched Boon to offer an approachable, customized coaching platform that facilitates personal and professional growth.
Just as he was building his network of certified coaches, the pandemic struck. In the thick of the pre-vaccine phase of the pandemic, corporations faced high turnover rates of employees adjusting to remote work and coping with stress, burnout and a lack of professional development resources. “Boon is is all about resilience: How do we help the people in the company as well as the companies perform at their best potential?” Simmons said.
“Either because of the stigma surrounding mental health or the mere fact that most employees don’t know they have this benefit, the employee assistance program is meant to be more
