10 Key Advantages EAP's Offer Your Clients
The pressure is on employers to offer competitive benefits, lower their costs and increase productivity. You can help them achieve all three goals by making the most of an EAP like the one included with The Standard’s group LTD insurance.
You can use the following statistics to help them see the value of offering and promoting use of an EAP:
- Companies with EAPs in place have, on average, 21 percent lower rates of absenteeism and 14 percent higher productivity rates, according to research from the Department of Health and Human Resources1.
- Research shows that for every dollar invested in EAPs, organizations can save between $3 and $52. That’s a pretty impressive ROI!
According to the Employee Assistance Society of North America (EASNA), "applied research studies show that EAP services can produce positive clinical change, improvements in employee absenteeism, productivity and turnover, and savings in medical, disability or workers' compensation claims. Often the largest area of financial savings associated with EAP use comes from improved employee productivity (reduced "presenteeism") and reduced work absence3."
Examples of employee work performance outcomes after EAP use cited by the EASNA report include:
- 57 percent of cases had improvement in ability to work productively after use of the EAP
- 50 percent of cases had improved absence and/or productivity at work
- 64 percent of cases with work issues as primary problem had improvement after EAP use; 46 percent of all types of cases had improved work productivity
- Number of “work cut-back” days in past 30 days was reduced from 8.0 to 3.4 days after EAP use
Ten Advantages To Employers That Add Up
The EASNA report concludes that most organizations with an effective EAP can experience the following benefits to their business:
- More productive employees
- Less absence among employees
- Reduced overall health care claims costs
- Reduced disability claims costs
- Better job climate and organizational morale
- More engaged employees and supervisors
- Less inter-group conflicts and team problems
- Better preparedness for critical events
- Less turnover of employees
- Greater ability to attract new employees
Bottom line, an EAP is a win-win for cost-cutting employers and employees who need extra help in tough economic times. By becoming an expert on EAP, you can help employers strengthen their benefits and get the most value for their companies and their employees.
1 Employee Benefit News: “Not Just Luck of the Draw”, September 1, 2008.
2 Association of Labor Management Administrators and Consultants.
3 EASNA Research Notes, 2009, Vol.1, No. 3 Attridge et al.