An Employee Assistance Program Can Improve Your Company's Bottom Line
Employees that feel they have a support system for their stressors and personal problems tend to be happier and more productive. It’s a win-win for everyone involved, and it can improve your company’s bottom line.
An EAP, or Employee assistance program,
is a confidential benefit that helps employees manage their personal issues. These may include stress, depression, grief, substance abuse, marital or relationship issues, and other concerns that affect their work performance and general well-being.
It can also help employees deal with a variety of challenges outside of the workplace, including family relationships, physical or mental health conditions, and financial issues. For example, if an employee has a child who’s struggling with school or has to care for a loved one who’s in the hospital, they can use the service to get help finding a local provider and managing their health insurance.
In a world where it’s easy to fall prey to the stressors of life, an employee assistance program is a great way to show your employees you value their work and care about their well-being. It can reduce turnover, increase retention, and even save your company billions of dollars over time by helping to prevent and resolve problems before they become serious.
There are several types of EAP provider
, each with a different focus and scope. They range from management-sponsored programs, which are sponsored by a company or its executive leadership, to union-sponsored member assistance programs (MAPs), which provide support for members of the labor community.
A company that’s interested in offering an EAP may choose to either outsource it to an EAP vendor or hire an in-house team. The decision will depend on the size of your company, and what services you need to offer.
For example, a small organization with 50 employees might not need a full-time team of EAP counselors. They may instead prefer a flexible solution that allows employees to access the service when they need it, as long as they don’t exceed the limits set by the EAP vendor.
These services can be accessed via phone, online or via a mobile app, and all communications are private and confidential. They can also be bundled together as part of an overall healthcare package to help employers control costs.
The cost of an EAP depends on the type of service you choose and the number of covered employees. Some providers offer a monthly fee that covers a certain amount of sessions. Others charge a per-session fee that you pay based on the number of sessions you receive.
Regardless of which option you decide, it’s important to find a provider that offers the services your organization needs. This will be the most effective way to ensure that your employees have the support they need to overcome stressors and other problems that impact their work performance.
Make sure that your plan includes all the resources your employees need to address their issues, and be open about the process with employees in a non-judgmental way. The goal of the employee assistance program is to give your employees the tools they need to overcome their challenges, so that they can return to work healthy and ready to do their best for your business.For a general overview of this topic, click here:https://en.wikipedia.org/wiki/Employee_assistance_program