What would be the gains and cost to your company by having an EAP provider?
Mental health is not only a couple of buzzwords but has become a key part of many discussions in the 21st century. Especially considering the world we are living in currently, the isolation, uncertainty, and abrupt changes has put mental issues at the forefront of the population’s consciousness. The conversations have become destigmatized, and an increasing number of people are taking time off for mental health days. So, while the conservation is positive, the reality is mental health issues are impacting the financials of company.
What are the negative impacts of mental health issues?
Many employers have expanded their leave and sick days to include mental health days. This has allowed individuals to take time off to focus on their mindset and wellbeing. One in five employees is impacted by poor mental health in Australia. In the economy, this costs Australian businesses over $10 billion every year. Mental health unfortunately is not always solved by taking a day of absence. Mental health conditions are a complicated collection of genes, circumstances, life events, and triggers. They can therefore, impact individual members of the workplace and their peers, for extended periods of time.
What is EAP counselling?
Employee Assistance Program Counselling is a service employers can provide for their employees. It allows them to support the mental health and well-being of their employees in their work and personal lives. In some cases, employers chose to extend short term psychological assistance to family members of employees.
What can EAP counselling help with?
One of the main benefits of EAP counselling is the flexibility. Due to the nature of the program, it is fully customisable and adaptable to your place of business. You can get in touch with the licensed counsellors and find what arrangement can best work for you. In addition to in person counselling sessions, you can also have whole staff programs. The individual counselling services may be as a response to some of the following concerns.
- Relationship difficulties
- Family Problems
- Conflict at work
- Domestic violence
- Anxiety
- Depression
- Addiction
- Insomnia
- Other specific mental health conditions
- career management
In terms of whole staff building programs, the EAP can help provide tools and advice on creating the ultimate working environment. They can achieve this through providing interpersonal skills, tools to deal with conflict resolutions, and streamlining communication.
How does this benefit the company?
Having a functioning EAP system will benefit your company financially and through fostering a positive work environment. It is crucial to not underestimate the performance increases and work ethic in individuals who feel supported and in a comfortable work environment. In terms of direct and easily calculated monetary benefit, here are some of the top reasons.
- You will save money by not needing to replace your staff in the short term
- The money paid to the EAP is a tax write off
- Your business and company can rebrand itself as a mental health aware company
- You will have less day’s sick leave from happy and balanced employees
- The work effectiveness and efficiency will improve.
When it comes down to crunching the numbers, you are looking at a positive return of investment of $2.30 for every $1 spent.