More and more businesses are starting to recognise the benefits brought to their employee’s health and well being by offering an Employee Assistance Program (EAP).
Employee Assistance Programs are having a positive knock on effect directly to businesses, through staff attendance and importantly, productivity.
An EAP is a work-based intervention. It is designed to enhance the emotional, psychological and general well being of employees and their immediate family members.
This proactive and preventative approach enables early detection, identification and resolution of work and personal problems.
So just how effective are Employee Assistance Programs?
Previous research has shown that EAP counselling client satisfaction is generally around 95%.
This correlated with marked improvements in employee absenteeism, productivity plus identified a positive impact on Workers Compensation.
And the turnover for business owners? Flanagan & Ots 2017 study revealed that employers can expect to receive a Return On Investment of 5-10 times that of what they initially contributed. That’s for productivity alone!
Measuring improvements from Employee Assistance Programs
The following improvements were found over a 6 week period of 1000 EAP clients –
- 86% in emotional well being – at any given time, an estimated 20% of the workforce is struggling with personal problems that impact their job
- 50% in work moral and motivation – Employee satisfaction has been correlated with a positive adherence to company culture and guidelines
- 45% in work-life management – a failure to manage a work-life balance is the main reason for employee termination. EAP programs promote happier, long-term employees
- 36% in absenteeism
- 27% in work relationships
- 24% in work productivity
EAP benefits can also be assessed by measuring –
- Human capital component (savings in reducing absenteeism and turnover and improving productivity and engagement/morale)
- Health care value component (workers compensation and salary continuance insurance savings)
- Organisational value component (savings across safety risks, employee grievances and legal claims as well benefits in providing employee concern and support).
What are the benefits for employees?
- Free access to mental health services for you, your relationship and your family to identify and resolve any problems impacting your life
- Confidential – your employer does not have to know it was you (or someone from your family) who has accessed the EAP unless you choose to disclose this with them
- Convenient (sessions can be accessed in person, via phone or telehealth such as Skype)
For businesses looking to set up an EAP
Any investment, be it time, finance or training in emotional and psychological well being is just that – an investment.
The initiative of a company that is truly concerned about the well being of their employees by offering an Employee Assistance Program shifts the paradigm and changes the business culture.
EAPs facilitate a working environment where productivity, service quality and business management are at a point higher than ever before.
To set up an EAP for your business, ask your HR rep to shop around and get some quotes. Remember that small businesses may not necessarily have to pay annual fees for services that are not being utilised. Your EAP provider should be a good match for your business size.
If you would like further information on Vision’s Employee Assistance Program, or general information on how EAP’s work, please contact us today.