Employee Assistance Programs (EAPs) have risen in popularity over the last couple of decades as a strategy for employers to create a healthier, stronger workforce, and in doing so, increase their bottom line.
When an employer offers an EAP benefits to its employees, research shows an increase in employee retention, a reduction in employee turnover and absenteeism, and an increase in employee morale and productivity.
Increasingly, EAPs are incorporated into an employer’s health benefits package. In fact:
- Due to their proven success, EAPs have seen considerable growth, with 35% of companies maintaining these employee services in 1985 to nearly 75% currently.
- EAPs have seen a benefit-cost ratio of up to 26:1 for employers, and have helped to provide employment stability for the work force, representing a significant return on investment.
- By providing an EAP, companies have seen a reduction of lost time due to inactivity and absenteeism by as much as 30%, and a reduction in accident and sick pay by as much as 60%.
EAPs help employees improve their overall well-being by providing services that encourage and support worklife balance, and inspire increased satisfaction and productivity.
By making EAPs available to employees as part of a company benefit package, employees are more likely to have the necessary tools and support to reach their full potential – at work, at home, and in life. This, in turn, increases the potential and success of the company as a whole.
For more information on EAP’s and the services that we offer as a provider, we invite you to visit Wellspring EAP online.