Why Employee Assistance Programmes Are Not Simply A Nice Thing to Do
The employees of your company can make or break your business, making looking after your employees a crucial part of business success. Employee Assistance Programmes (EAP) is a programme that is designed to assist employees in resolving personal and work-related issues that could be negatively affecting their daily lives.
However, not enough companies are implementing EAPs due to the excess costs added to operations and the belief that it does not do anything beneficial for the business, but this is actually a misconception and EAPs actually benefit both parties! Research by Oxford University showed that happy workers are 15% more productive, and EAPs are a great way to keep employees away from their worries. Employees which are stressed or unhappy due to personal or work reasons can severely hamper any goals and affect future success.
An employee’s mental health and wellbeing will directly affect job performance, with some research estimating depression alone costing employers in the US up to $50 billion per year in lost productivity. Mental health disorders can cause both physical and emotional symptoms, causing employees to miss work and thus further negatively affecting productivity, further cementing a business’ need to address the situation now!
With Covid-19, business leaders are recognising EAP as a solution to increase employee engagement, reduce anxiety, help with mental health, and ultimately cut costs in the long-term. Enterprises are now including EAP into their business strategies and early adopters are already reaping the benefits during these difficult times. Business leaders should waste no more time in providing their employees with support, as unchecked stress can mount and become a disaster!
What Are the Main Benefits of EAPs?
Employees are the direct beneficiaries of EAPs but employers will indirectly benefit. Here are some of the main benefits:
- Increased Job Performance & Productivity: Everyone wants to feel valued and cared for. When employees are happy, they will be more enthusiastic at work resulting in better work performance and increased productivity. According to a study by Chevron, employers saw a 50% improvement in job performance after implementing an EAP.
- Positive Work Environment: EAPs foster a positive work environment, where all employees feel part of a large family. Receiving instant support anytime to solve personal issues will build trust between employer and employee, creating positive vibes throughout the company. Employees tend to arrive on time and sick leave generally decreases.
- Better Retention Rate & Cost-Saving: The cost of employee turnover is substantial, with some estimates at around 6 to 9 months of the leaving employee’s salary. Most workers are willing to stay at their jobs if they have a good relationship with management and are enthusiastic about the company. This will reduce the turnover rate significantly and help your business save a considerable amount in the long-term.
- Fewer Future Disputes: Many EAPs will provide outplacement services. This is particularly important in difficult economic climates as many companies are restructuring their businesses. If employees feel unfairly treated, they may become vindictive and the chances of litigation or labour disputes could increase. Outplacement exactly reduces the chances of this happening as you are helping them to new opportunities. To learn more about outplacement, click here.
Selecting the Right EAP Vendor
There are numerous EAP vendors on the market but selecting the right one for your company is crucial. When selecting a good vendor you should look for:
- If they’re are within your budget
- Their experience
- Testimonials from previous and existing clients
- What their EAP service covers
- Excellent customer service
- Locations served
Work culture can vary from country to country, so Employee Assistance Programmes should be customed to match the culture of the location. Depending on the country, employees will have different priorities and issues making a tailored EAP crucial for successful implementation.
If you are an Asia-based business, consider Links International’s Asia-centric Employee Assistance Programme. Links operates in multiple countries in Asia-Pacific and has extensive knowledge of the work culture in all the countries we serve. Contact us now to learn more about how we can tailor the perfect EAP for your business!
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Links International is an industry leader in innovative HR outsourcing with services such as payroll outsourcing, visa application, PEO/EOR Secondment, outplacement, recruitment and more! Contact us for more information on how we can help leverage your HR function.