This is a question that is very common for Employers when they consider adding an Employee Assistance Program [EAP].
Up to now it has been very difficult to know how much the plan is used due to privacy reasons.
However Sun Life in conjunction with Ivey Business School at Western University has come with a method of calculating the return on investment of an EAP program.
The data was collected since 2011 and focused on physical health. The base was a survey of over 800 participants and the findings were that a Wellness Program can save on average 1.5 to 1.7 days of absenteeism per employee per year or $251 per employee.
Interestingly most EAP programs cost about $2.50 per employee per month.
As we move forward and more employers encourage their employees to use the EAP programs we will find more of a savings.
Russ McEdwards CFP