Measuring the return on investment of an EAP: are you getting the full value?
Why EAP?
Research by the government has revealed mental health issues, particularly depression, affect 1 out of 4 people. Mental illness is common and can impact absenteeism. The World Health Organisation led an analysis that found that 12 billion working days will be lost to depression and anxiety disorders each year between now and 2030 if treatment is not pursued. However, investments in depression and anxiety treatment see a strong return in better health and ability to work.
Therefore creating an EAP solution that is easily accessible is key to supporting employees during times of struggle, giving them the tools to be happier and more productive.
Understanding your ROI
Due to the confidential nature of an EAP, measuring true ROI can be difficult. This is why we must look to other areas to provide learnings.
When it comes to measuring an EAP solution, you can find out the number of phonecalls made. Reports should be available on the types of calls made, including general emotional wellbeing issues and those that are considered high risk. These include cases where the individual is at risk to themselves or others.
Employee engagement is another area where you can find a significant ROI. A 2016 survey from Willis Towers Watson found 50% of employees worldwide who were in very good health were highly engaged, whereas only 24% of employees in poor health were highly engaged. When employees improve their health, they are more engaged at work.
Knowing that healthier staff are far more engaged, you should be boosting EAP utilisation so that your workforce takes a proactive approach to their health and wellness. There are two major issues that lead to underutilisation: employees are unaware of the EAP services available, and they don’t trust that they’re confidential.
Improving utilisation
Not owning a smartphone is the exception, not the rule. Whatever the generation, focusing on having a tech-based, mobile-first solution is key to high utilisation. Placing your EAP within your employee’s mobile phone instantly creates a sense of trust. It’s private and it’s theirs.
From our own EAP data, millennials are currently five times more likely to engage with their EAP through the online or app portal rather than the traditional telephone service.This gives employees the ability to interact with the full EAP experience 24/7/365 with one push of a button. Employees can also phone through to the EAP directly from the app.
To measure how your EAP services are making a difference, start with the quantifiable data, such as turnover, absenteeism and productivity. Then, measure what isn’t clearly quantifiable, such as employee satisfaction. Conduct surveys to get an idea of the morale in your workplace.
Join our free webinar ”10 Mistakes you’re probably making with your EAP and how to fix them”, on the 30th of March. Click here to join now.
David Shearman is strategic account director at LifeWorks.
This article was provided by LifeWorks.
