Employee Assistance Programs (EAP): 3 Key Reasons Your Companies Need One in 2022

In 2022, many employees and their family members are facing a wide array of personal problems and life challenges.  With the pandemic, the war in Ukraine, and concerns about climate change, people have more reasons to feel stressed than ever.  Per a 2020 CDC report, rates of anxiety and depression doubled in the US, as did the rate of people reporting suicidal thoughts.  If they don’t already offer one, this year employers and their human resources departments should seriously consider offering an employee assistance program (EAP). Here are some key reasons employers will benefit from offering an EAP in 2022 (and beyond). 

3 Reasons Employers Should Offer an Employee Assistance Program (EAP) 

1. An EAP leads to improved employee job performance.

US businesses lose $300 billion a year collectively to workplace stress.  Another study noted that EAPs reduced sick leave usage.  Employers lost 4.8 to 6.5% fewer hours to illness when offering these programs.  Of course, on a general level, employees who are stressed about personal problems are more likely to: 

• Call out of work sick 
• Be less focused 
• Hurt or injure themselves on the job 

Employee assistance programs won’t fix an employee’s personal problems.  However, research has shown that services, such as short term counseling, help employees develop the coping mechanisms they need to face these challenges and continue to perform at a higher level at work.

2. EAPs boost employee retention. 

Employee assistance programs will significantly improve how engaged and happy employees feel in the workplace.  These programs help communicate to employees that they’re valued, and their well-being is critical to the employer.  Amidst The Great Resignation, when many organizations are struggling with employee retention, company culture is vital.  EAPs are also an ideal addition to an employers’ benefits package because they’re often very affordable.  (Some are as low as $.75 a month for employees, others go up to $2 per month.)  Cost is also lowered because often, EAPs aren’t used by all employees.  Every staff member may simply appreciate the option of an EAP, even if they don’t utilize it.  Some EAPs may cost employers nothing, as they’re already part of health or life insurance plans.    

3. An EAP improves employer brand and helps employers recruit competitively. 

As noted above, employers are currently struggling with labor shortages and employee retention.  Hiring is, of course, also an issue.  To improve their chances of landing top talent, employers in 2022 should consider adding employer assistance programs to their benefits package.  EAPs are becoming more commonplace, with 97% of large employers (over 5,000 employees) offering them.  Companies with 250-1001 employees offer employee assistance programs at a rate of 75%.  In a 2019 poll by Society for Human Resource Management (SHRM), 91% of its members offered an EAP.  This was a significant growth from the 79% of members who had employee assistance programs in 2015.  It’s also worth noting that employee assistance programs are especially common in some industries, due to the high-stress nature of the work.  To land top talent and recruit against competitors, employers should consider offering their own EAPs– and mentioning them in their recruiting materials and hiring process.