Does the cost of a high impact EAP actually reduce an employer’s expenses and increase profit?
First, let’s acknowledge that a lot of Return On Investment (ROI) statistics are based on flimsy “research” conducted by service providers who are more preoccupied with sales than actual measurement.
That being said, over the last ten or twelve years more and more employers and their insurance carriers and have conducted real-world analyses of their own data. Huge studies have been commissioned or carried out by large and mid-size corporations, OSHA, the U.S. Department of Health and Human Services, the Hartford Group and others. Results are impressive, sometimes startling so.
For example, a meta-analysis of research studies, conducted by the U.S. Department of Human Services concluded: “for every dollar spent on an EAP, employers save between $5 and $16 per employee.”
Where do the savings come from? Cited are costs associated with absenteeism, disability, workers’ comp, FMLA and health care (including medication).
Even bare-bones EAPs positively impact the real and hidden costs associated with behavioral health problems including Type II (“lifestyle”) diabetes, obesity, the use of tobacco, depression, anxiety, substance abuse, alcoholism and unresolved family problems.
Our role with employer partners goes far beyond typical customer-vendor relationships. Working together, we can pull problem employees back from the brink, help teams cope with traumatic events and resolve issues that affect job performance and productivity.
To assess whether WorkWise can help improve your organization’s bottom line, please contact Dr. Louis Krupnick or Dr. Heidi Ardern to initiate a confidential and thoughtful dialogue.