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Employee Benefits News

Latest News
20 Jan 2014

Businesses Should Explore EAP Options To Reduce Costs

Employee assistance programmes (EAPs) are gaining popularity among UK firms, as more and more employers are realising the importance of having a wellbeing strategy for their staff.

The mental and physical wellbeing of employees is of paramount importance for businesses. Data shows that British businesses lose £460 million per day in wasted wages to workers in sick leave caused by stress at work. In 2012/2013, 16% of the British workforce called in sick at least once because they were unable to deal with the stress, and one in five of these cases results in a long-term absence, Employee Benefits website reported.

With these figures in mind, it is easy to see why managing and taking care of staff´s wellbeing is crucial. Services like EAPs allow employers to help workers identify stress and other work-related health issues and deal with them either through counselling or by providing confidential information over the phone or face-to-face when necessary.

The rapidly growing market has led to greater competition, which in turn has caused the costs of EAPs to drop significantly. While the average cost for full service per employee came in at £25 in 2000, currently it stands at around £14 per head for a scheme of 100 people and even lower for larger schemes, figures from the UK Employee Assistance Professionals Association show. In 2012, businesses spent a total of £70 million on EAPs in the UK, the association also revealed.

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