As with any business decision, when looking into introducing an employee assistance programme (EAP) to your workplace, we know that ROI is going to be at the top of your mind.
Since their inception nearly 100 years ago, EAPs have transformed. From limited programs aiming to rehabilitate employees with alcohol addiction, to far more holistic and accessible programs that promote employee wellbeing and assist companies in supporting employees with mental health issues – both work-based and in their personal life.
Now, nearly half of the UK’s workforce have access to an EAP; the majority of Fortune 500 companies provide one, and more and more UK companies are following suit in order to drive employee satisfaction, productivity and job performance. But, how can you measure the impact of your new employee assistance programme?
As it happens, there is body of research that has been done on the effectiveness of employee assistance programmes and the extent to which it can benefit your workforce – not just in terms of well-being, but also productivity. Realistically, the ROI from your EAP is measured more on qualitative rather than quantitative data, however, research has found that 12.5 million days of work a year are lost due to mental health issues. That figure itself makes it clear why so many organisations have chosen to support their employee health and wellbeing with an employee assistance programme.
Not only will offering an EAP make your employees feel valued and supported, but it can also be integral in encouraging early intervention for mental health issues, such as stress, anxiety and depression. The programmes offer employees assistance and support – not only with work-related stresses – but also personal issues and extenuating circumstances that may be negatively affecting their workplace productivity and efficiency.
At CiC, we work with businesses of all sizes to help them effectively support their employees. We understand that ROI is important – particularly for SMEs. In reality, the real benefits of an EAP cannot be measured quantitatively. For example, businesses currently offering an employee assistance programme frequently report and increase in:
– Morale and camaraderie
– Employee engagement
– Employee satisfaction
Alongside a reduction in:
– Absenteeism (in 2016, 45% of sick days were mental-health related)
– Employee turnover
– Workplace grievances
Take a look at our blog to discover more about EAP benefits.
Last year, the ‘Thriving at Work’ report – commissioned by the Prime Minister – examined employer and employee attitudes towards mental health, in order to analyse the real cost of ill mental health for UK businesses. After reviewing over 200 employers, ‘Thriving at Work’ concluded that mental health issues cost employers between £33 billion and £42 billion every year, with the total impact on the UK economy ranging from £74 billion to £99 billion. The report also highlights the staggering statistic that, for every £1 invested in employee assistance programmes, a business’ ROI ranges from £1.50 to £9.
So, though the ROI of your employee assistance programme may not always be easy to measure, by offering it to your employees, you are not only safeguarding your business against the high cost of ill-health and low productivity, but you are also adding value to your workforce, supporting them both personally, and professionally – which is bound to benefit your business.
For more information on our EAPs and other employee assistance services, contact us today.