What if we told you that you could offer your employees support for a variety of life challenges, in a way that was cost-effective, confidential, and beneficial?

If you haven’t heard of an Employee Assistance Program (EAP), let us introduce you to this corporate benefit that even small, local companies can afford.

What is an Employee Assistance Program?

An EAP is a suite of employer-sponsored services designed to assist employees and their family members with personal and work-related problems.

At the time of hire, employers can subscribe each employee to their EAP services. When an employee or their immediate family member runs into an issue that affects their work or their personal life, they can use the EAP as a resource for confidential guidance and counseling in a variety of areas.

Counseling is available to employees for a range of issues such as work-life balance, personal relationships, finances, and legal matters.

What are the benefits of an EAP?

Elevated company culture

As an employer, being able to support your employees in all aspects of their lives is powerful. By offering resources to help them deal with personal challenges they are experiencing – such as buying a car, improving physical fitness, or caring for an aging parent – you’re demonstrating that your organization supports them as people, not only as workers.

Decreased absenteeism

Employee absenteeism is a significant problem for many organizations. On average, absent employees account for about 3% of your workforce. If you could reduce that number by providing your employees with a way to seek help and get back on track, wouldn’t it be worth the investment? When employees receive support for their mental health and other personal challenges, EAPs contribute to a 25% reduction in absenteeism, due to fewer sick days and unplanned absences.

Employee retention

Happy employees who feel valued by their employers tend to stay at a company. Considering that the average cost of recruiting and training a new employee is around $4,700, your EAP will pay for itself many times over by retaining at least one employee.

Improved organizational performance

In one study, over 70% of employees reported improved productivity after using the EAP. Another study reported that employees utilizing EAP services had a 20% improvement in overall job satisfaction.

Reduced liabilities

An EAP enables you as an employer to lend a hand to your employees while also mitigating liability stemming from issues crossing over into the workplace. For example, by providing confidential counseling, EAPs can help improve mental health and enhance employee well-being, which can lead to fewer negative incidents such as discrimination, harassment, or workplace violence that could result in legal action.

How much does an EAP cost?

An EAP can come in a variety of pricing models that will have benefits to an organization depending on their size, the scope of services and utilization. A common model is Per Employee Per Month (PEPM) which involves a fixed monthly fee for each employee covered by the EAP and is ideal for organizations seeking predictable costs. Fees can run an employer $1 to $5 per employee per month, depending on services included. Employees will never have to pay a dime to access any of the services.

How simplicityHR by ALTRES can help

At simplicityHR by ALTRES, our HR Options and HR Advantage clients get an Employee Assistance Program as part of their package. No additional costs or hidden fees.