An Employee Assistance Program (EAP) provides employers with a positive and proactive means of assisting employees who may be struggling with juggling personal and/or work-related issues. It involves the provision of personal counselling services, either in person or over the phone to help them work through their issues and result in a happier, more positive approach to their work. But did you know that an EAP can boost your business performance?
Here are six ways an EAP can boost staff and business performance and create a more productive and happier work environment:
- Decreased absenteeism and presenteeism and improved productivity
Stress is one of the leading causes of reduced productivity at work. When employees are distracted by personal or work-related concerns, their minds aren’t on the job. In 2016, it was estimated that the Australian economy lost $34 billion a year in lost productivity due to presenteeism. An EAP can help tackle such issues and keep employees positive and engaged in the workforce.
- Improved employee engagement and retention
Employees who have access to an EAP are more likely to be engaged in the workplace and more likely to stay with the same employer long-term.
Employees feel more connected to an organisation who has supported them through difficult times and see this as a valuable part of their compensation.
Happy employees are more likely to stay!
- Increased employer profitability
On average, every worker takes three days off a year due to stress.
According to a report by price Waterhouse Coopers, this costs the industry $11 billion a year. In contrast, employees who are at work, engaged and productive result in a return on investment for the employer and reduced claims costs. A 2017 study by Flanagan & Ots revealed that employers can expect a return on investment of 5-10 times what they initially invested.
- Improved management efficiency
Managers are not always qualified or comfortable offering hands-on support to employees who are struggling with personal issues and can be quite time- consuming. Employees who have access to EAP services are more likely to get the qualified assistance they require, which can free up a significant amount of time and energy for managers.
- Improved morale and happier employees
When a member of your team is struggling with personal or work-related issues, you may have to step in and pick up some of their workload. As a result, not only is your colleague struggling, but now you may be too. This doesn’t make for good morale and a happy workforce. Having access to an EAP enables employees to work through their issues and better themselves without adversely impacting on others, creating an overall happier and productive environment.
- Benefits to the employee
EAPs enable employees to have free access to mental health services to help them resolve any issues that are impacting their lives. In addition, they can remain confidential and set up at a time that is convenience, either in person, over the phone or online.
Employee assistance programs are a proactive and preventative approach that enable early detection and resolution of work and personal problems and improve your bottom line.