Finding an employee assistance program for your business can be a stressful process. No matter whether you are the owner or human resources professional, sorting out which EAP suits the business best. For many businesses, using a PAYG EAP may be the best option in terms of cost and efficiency without sacrificing quality in support and compliance. Learn more about how our partner Talked has released the best EAP platform for Australian businesses.
What is an EAP and why are they important?
Employee Assistance Programs (EAPs) are a form of employee benefits offered by companies to support staff in resolving personal issues that might affect their lives and work performance. These programs are prominent in Australia and for a significant reason. Companies understand that their overall success is linked to employees who are not bogged down by personal stressors.
Research shows that nearly half of individuals report that stress adversely affects their personal and professional lives. This translates to an annual cost of $300 billion for employers, arising from stress-related healthcare and lost workdays.
In response to these alarming figures, many companies are incorporating EAPs into their benefits offerings. These programs aim to alleviate stress, contributing to the overall well-being of the company. Additionally, the mere availability of such support can enhance employees’ sense of being valued and supported.
How to start an EAP at work?
Initiating an Employee Assistance Program (EAP) in your company starts with understanding your employees’ needs. It’s important to identify the aspects of your current support system that are effective and those that need improvement. Remember, each organization is distinct, with its own set of challenges shaped by factors like industry, work pace, and available resources, all influencing employee experiences.
It’s also crucial to acknowledge that traditional benefits programs might not resonate with today’s employees. Modern employees seek support that caters to their specific needs and preferences, mirroring the personalization and convenience they experience as consumers. Therefore, a generic, “one-size-fits-all” approach to benefits is less likely to result in a workforce that is healthy, engaged, and satisfied.
The following steps can help you get started with implementing an EAP in your company:
- Ask employees what kind of support they need the most.
- Determine how you want to offer your EAP.
- Determine whether a fixed price or PAYG solution is preferred.
- Research potential providers/vendors
Evaluate each EAPs unique selling point
In concluding finding an EAP platform for Australian businesses requires a lot of careful research and understanding. However, Using a pay as you go solution such as through Online Psychology’s partner, Talked, the process has been made simple. Start looking out for your employees today.