Whatever the cause of employee stress, the high absenteeism and poor productivity that often results can impact a company’s bottom line. An Employee Assistance Program (EAP) can help employers address employees’ personal problems before they affect their health and performance. Here are some telling statistics about EAPs:
- There is a 5:1 return on investment for EAP costs with 85 percent of the savings due to decreased medical claims. Many illnesses are stress related and can be appropriately assessed and treated with an EAP program.
- A 1990 study found that, for every EAP dollar spent, there was a $5-$16 savings.
- In recent studies, there were 14 fewer sick days after an EAP program was implemented. Average mental health and substance abuse claims costs were also reduced by 23 percent.
- Studies show a 37 percent reduction in medical costs after even brief counseling interventions.
An EAP offers short-term confidential counseling, employee education, a guide to community resources, and when appropriate, mental health referrals to help employees with serious problems. Most EAP providers will work closely with employers to develop a program that will address their unique needs. A program should complement an employer’s existing medical plan and reduce unnecessary insurance claims, while dealing with problems that affect employee performance. Company size shouldn’t be an obstacle, since many EAP companies offer a flexible approach to designing your EAP program and are able to service both large and small companies. Many have groups of counselors and specialists throughout the area and can meet with your employees near their home or workplace.
Because fee structures are based on the number of employees and the type of services your company needs, an EAP program can be affordable for any employer. Many EAP companies will charge on an as needed basis or will offer a flat rate based on the number of employees you have. In addition, EAP services are available to all immediate family members living in the home at no extra charge to the employer or the employee.
For more information or to set up EAP services for your company, contact BJC EAP or call 314.729.4030 or toll-free 888.505.6444.