Besides meeting the usual everyday demands of the workplace, today's employers must also provide some level of support to employees during critical and potentially overwhelming times.
That's where Employee Assistance Programs (EAP) come in. Employees have come to expect these programs that address their health, career and lifestyle priorities. And businesses are listening. More than 97% of companies with 5,000+ employees have EAPs and 75% of companies with 252 -1,000 employees have EAPs.1 This also means smaller firms are increasingly expected to offer competitive benefits like EAP services in order to compete for workers.
Employers enjoy reduced claims
A strong EAP promotes better employee productivity and well-being – before problems become an emotional or financial burden. When EAPs are used, studies reveal the following:
- Job loss was avoided by two thirds of employees involved2
- A company’s workers compensation, drug, medical and disability costs can be reduced2
Employers can more efficiently manage health care costs by helping their employees improve their overall well-being with EAPs by reducing worker health care costs, worker absence days and worker turnover following disability leave.
EAPs are more valuable than ever. With the passage of the Patient Protection and Affordable Care Act, more Americans will be accessing health care benefits in 2014. Employers that offer strong Employee Assistance Programs that engage people in addressing lifestyle issues and workplace stresses will be able to more efficiently manage their costs.
As more businesses recognize the benefits of EAPs and already offer them to their employees, it is critical to select programs that suit the goals and the culture of the organization.
Nationwide Employee Benefits® offers the convenience and flexibility of employer and employee benefits designed to suit the unique needs of a wide variety of business owners and their employees. Included with our group life/AD&D and disability insurance plans, EAP services help employees and their household members obtain free and confidential access to extensive work/life resources, including:
- Advice on handling difficult life events, like losing a loved one
- Parenting information and services
- Child and elder care provider databases
- Online financial tools and calculators
- Identity-theft consultation
In addition, Nationwide Employee Benefits has partnered with On Call International to provide travel assistance protection for group life and disability insurance policyholders. When employees and their household members are traveling for personal or business purposes more than 100 miles from home (for trips up to 90 days), they have access to such services such as:
- 24-hour access to a multilingual service center
- Emergency medical assistance
- Help locating doctors, dentists and medical facilities
- Coordination and payment for medical evacuation
Nationwide Employee Benefits offers many strategies for solid, customized EAPs for businesses and their employees.