It’s important to ensure the workplace is a healthy environment where employee wellbeing is at the heart of your business culture, and an Employee Assistance Programme (EAP) is your secret weapon.
We understand that life is difficult, anxiety trauma, substance abuse and sleeplessness all exist, in turn causing our jobs and quality of work to suffer. Which is why having a highly skilled and fully trained team of professional counsellors on hand to guide your staff through any situation is vital to their wellbeing.
Here are just 5 of the many reasons that your business must have their own employee assistance programme:
1. Investing in an EAP can yield a high return on investment
For every £1 invested in an employee assistance programme; companies can see a return of between £1.50 and £9. This return is due to a number of factors including a decrease in the number of sick days taken by employees, and an increase in individual productivity in the workplace.
2. EAP can boost your employee wellbeing initiative
In 2017 CiC approached senior HR professionals to gain their insights. Here are a few of the top stats:
– 47% believed that there wasn’t enough budget being assigned to staff wellbeing.
– 37% agreed that there was a lack of staff and managerial training.
– 51% thought there wasn’t enough personnel to support wellbeing initiatives.
– 31% stated there was not enough support or a lack of awareness from the heads of the organisation.
Our research showed that investing in an EAP can increase awareness and promote support for employee wellbeing across your business, allowing more resource for other areas of your organisation’s initiative.
3. Mental Health Costs UK Businesses £99 Billion A Year
Currently, 450 million people suffer from mental health conditions around the world and a huge 25% of the global population are affected by mental health issues at some point in their lifetime. In the UK alone, 70 million workdays are lost each year due to mental health, losing the UK economy up to £99 billion.
How does this affect you? In another of our blogs, we reviewed the Thrive Report commissioned by the Prime Minister. This report revealed that mental health issues could cost employers up to £42 billion every year. Investing in an employee assistance programme can certainly provide a return on investment.
4. It’s Best Practice
Having an employee assistance programme is simply best practice for your business. The happier your staff are, the better quality work they are going to produce for you, and it makes your business a more attractive workplace for new talent – an added employee benefit. Employees will want to work for a company that cares about them, making yourself known as an employer of choice. If you can’t afford your own, or you think you are too small, employee benefit schemes provide access to EAPs.
5. Reducing Other Costs
Although an EAP is not a health insurance plan, employee assistance programmes offer information about mental health counselling and other many other features. Our EAPs also include support for dependents with elder and child care. These features can reduce health care and health insurance costs as many of similar features are included within your EAP.
To ensure your business doesn’t miss any opportunities to support employee wellbeing, invest in CiC’s employee assistance programme, support and advice services. Our comprehensive employee support programmes will give your staff access to specialist guidance, information and advice for positive mental health and wellbeing. For more information, call us on 020 7937 6224 or complete our short enquiry form.