What is an Employee Assistance Program (EAP)?
Written by: AEIS
Understanding What an Employee Assistance Program (EAP) Is
At its core, an employee assistance program (otherwise known as an EAP for short) is a type of "work-based intervention program" that helps employees resolve some of the problems they may be dealing with in their personal lives.
In essence, an employee's personal problems will eventually impact their work performance. Likewise, offering a benefit like an EAP is a great way for employers to attract and retain top talent. Therefore, offering an employee assistance program becomes a way to accomplish a number of important goals, all at the same time.
What is Covered By an EAP?
Mental Health Resources
One of the major elements covered by an EAP has to do with psychological disorders that an employee may be experiencing. They don't necessarily have to disable an employee's life with the proper care and management. Employees may not have the resources needed to accomplish this on their own, so an EAP can help them.
Work-Related Stressor Counseling
Apart from financial matters, work-related issues are one of the major things that contribute to the stress an employee may be feeling. An EAP can provide them with the unique steps and tools they need to properly cope with whatever it is that they're dealing with.
Substance Abuse Resources
When treated with care, substance abuse issues like alcohol or drug use can get employees the qualified help they need to retake control over their lives. If nothing else, it can be a way to help stop a progressive disease like alcoholism from getting worse.
Financial Counseling
If an employee feels like they're overworked and are still struggling to make ends meet and provide for their family, it will ultimately lead to them being spread too thin. Their performance in the workplace will suffer, which will only exacerbate their issues. The right EAP can go a long way towards preventing this from happening.
Legal Aid
If an employee is going through a complicated legal matter like a messy divorce, an EAP can help give them access to the legal resources they need to see things through to the most satisfying conclusion possible.
Key Benefits of EAPs
Improves Employee Mental Health
Mental health issues are not uncommon, and the more access people have to the resources needed to manage them, the less likely they are to make mistakes, do poor-quality work, or even take unnecessary sick days.
Improvers Employee Retention
It's no secret that access to high-quality benefits like an employee assistance program helps to make workers more engaged. When they feel like their employer genuinely cares about them, that feeling is reciprocated. The more engaged someone is with their job, the less likely they are to go looking for another one - thus helping significantly with any retention problems you've been experiencing.
Attracts Talented Workers
Even more so than salary, many top-tier employees consider benefits packages when deciding who to work for. If you offer a high-quality employee assistance program and a lot of your direct competitors don't, this can give you a major advantage when it comes to finding new candidates to fill available positions.
Improves Employee Productivity
Finally, one of the major benefits that come with offering an employee assistance program has to do with the major improvement that it can make to employee productivity. The better someone is at managing the various issues going on in their lives, the more time and attention they'll have to do the best work possible. They'll also be far more engaged with their workplace, which makes them more productive on average.
Types of Employee Assistance Programs (EAPs)
There are two types of EAP options that we offer:
- Embedded EAP: This type of EAP is connected to your ancillary lines carrier. Typically, if you have three or more ancillary lines, such as dental, vision, and life, with a single carrier, they will offer you an embedded EAP at no additional cost.
- Standalone EAP: This option allows you to shop the market and select the best EAP for your employees at an additional cost.
Is an EAP Right for Your Business?
To determine the best Employee Assistance Program (EAP) for your business, consider the unique needs of your workforce and your goals for offering such a program. Evaluate what your employees are experiencing and what you aim to achieve. This will help you select the most suitable EAP for your situation.
Tips for Implementing an EAP
The number one thing you need to do after implementing an employee assistance program is to let your employees know that it is available. People won't participate if they're unaware that it exists in the first place.
You should also offer a wide range of services in an effort to help the highest number of employees possible, not just a select few. Likewise, make it clear that everything that takes place within the employee assistance program is strictly confidential. Nobody has to worry about their personal matters being exposed to the entire business for all to see.
Reach Out to AEIS for a Free Consultation
At AEIS, we're prepared to leverage our decades of combined experience in employee benefits and related matters to your advantage. We know that you want to do whatever it takes to help your workers and offering a high-quality EAP is a big part of that.
To find out more information about what an employee assistance program is and what it entails, or to get answers to any other questions that you might have, please don't delay - contact the team at AEIS today and schedule your free consultation so that you can take the next steps.
We're here to help.
Schedule a free phone consultation today.
P: 650.348.6234
E: team@aeisadvisors.com
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