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Obtaining precise figures about the financial benefits of introducing an EAP can appear impossible. In a 2001 analysis of studies of the financial benefits of EAPs, Professor John McLeod (University of Abertay) concluded that an EAP at least covers its costs.
Employee Advisory Resource has gone one step further, working with a consultant at Harvard University to build a sophisticated, robust tool which measures the Return on Investment (ROI) for an organisation of implementing one of our EAPs.
This unique tool generates an estimate of possible organisational benefits, categorised into 5 key areas:
- Increased productivity
- Time saved
- Recruitment and retention cost savings
- Reduction in absenteeism
- Avoided health and legal costs
The user can then drill down on each of these statistics to view a detailed breakdown of the figures generated. The ROI tool can be used both before an EAP is implemented and at various stages of the contract, e.g. at each year-end.
One of Employee Advisory Resource’s clients recently found that for every £1 they spent on their EAP, a saving of nearly £13 was made in costs such as turnover, recruitment and sickness absence.
For a comprehensive demonstration of the ROI tool, please contact Employee Advisory Resource. Alternatively you can use the simplified version below:
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