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Implementing Employee Assistance Programs
Employee Assistance Programs, as its name suggests, are instituted by
companies to provide the requisite help to their employees in all circumstances. The Employee Assistance Programs reflect the holistic view that the corporate bodies of today take of
their employees. The purpose of these programs is to ensure the mental and physical well being of the employees, in order to increase and maintain the productivity of the company
itself.
The implementation of the Employee Assistance Programs requires an investment by the concerned organization in the initial phases. But the benefits accruing out of these programs far
outnumber the costs involved. By ensuring the physical and psychological health of the employees, it increases the focus of the employees at work, thus cutting down on accidents.
Consequently, it also ensures that all deadlines are adhered to by the employees. As it improves health, it drastically brings down the problem of absenteeism. As a result of the
implementation of these programs the employees develop a feeling of enhanced loyalty, resulting in a decrease in turnover. This, in turn, reduces the recruitment costs. It also improves
the morale and environment at work. A combination of all the given benefits provide the company with a much improved bottom-line, justifying the initial investment.
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And the fact that Employee Assistance Programs are slowly becoming a necessity is
proved by the following facts. In a study carried out all over the country, it was found that above twenty percent of the employees were suffering from depression and were highly
stressed, which made their medical claims higher by fifty percent when compared with the claims of the other employees. Almost a million workers are absent each day in the country,
showing a three fold increase. Besides this individual studies have shown that each dollar spent on Employee Assistance Programs gave a return of about eight dollars on an average, all
over the country. Savings per employee per year, in terms of medical costs, crosses the two thousand dollar mark, if Employee Assistance programs are followed by the concerned
organizations.
This proves the importance that Employee Assistance Programs have slowly gained, making investment in
them indispensable for all intelligent management people in the progressive companies, even in today’s profit driven market scenario. Ready to get multiple quotes!
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