Understanding EAP Benefits

Organizations now recognize the importance of providing support to their employees which benefits the whole human both at and outside of the corporate setting.

Most of us would like to leave our problems at the door when we show up for work. The container provided by our professional roles can sometimes give us a silo away from the rest of the world in which we are able to put our heads down, focus, and get things done – whatever else we may have going on in our lives. 

But we’re only human, and the troubles we face outside (or inside) of work don’t suddenly drop away just because we have a job to do. This can have a detrimental effect on our workplace performance, which may further affect concerns outside of work, and the cycle goes on. 

Organizations now recognize the importance of providing support to their employees which benefits the whole human both at and outside of the corporate setting. Benefits which extend beyond the basics and get to the heart of what the individual needs in order to thrive prove critical to both workplace performance and general health and wellbeing in the modern setting. Let’s talk about it.

What are EAP benefits

An Employee Assistance Program (‘EAP’) is a contemporary benefit that aims to provide personalized, confidential counseling to employees facing hardship of any kind. EAPs work to identify the nature of the problems employees may be experiencing, and offer supportive services and resources ranging from educational to financial aid to help mitigate some of these difficulties. 

Organizations most commonly leverage EAPs for singular employee support, but they can also be engaged to assess challenges for larger groups within the wider employee base. 

How does an EAP benefit the workplace

The design of an EAP most commonly supports individual employee health and wellbeing, largely working to address social issues including financial and housing insecurity, problems related to mental and physical health, access to mental and physical health resources and benefits, grief, parental problems, trauma, legal problems, and drug addiction. EAPs are accessed voluntarily, and employees who seek help will be assessed, then given individualized resources which support improved wellbeing. 

The problems employees face in their day-to-day lives will impact their ability to perform well and consistently at work. And when multiple employees are having their performance impacted by avoidable life circumstances, this can begin to have an effect on workplace culture, as well as performance of the company overall. 

But EAPs help to mitigate these effects with palpable and often life-changing resources which allow workers to build better, more stable lives for themselves and their families. Let’s talk about what this can look like from an organizational perspective. 

What are examples of EAP benefits for employees

An EAP works to address a wide variety of personal and social issues through palpable benefits employees can access when and if they need. Here are a few examples of the kinds of benefits organizations might offer through their company’s EAP.

  • Mental health resources. Some organizations may have on-staff mental health specialists, or a relationship with external facilities to which they can refer employees in need of support. Mental health resources provided through EAPs usually include standard therapy, addiction counseling, crisis intervention services, and mental health/illness assessment services, among others.

  • Family counseling and support. Supportive resources may extend beyond the individual employee and provide assistance to family members, especially those under the care of the worker. This may include childcare, family counseling, and extended support for employees who are caregivers.

  • Professional advice. This can include resolving workplace conflicts between individual employees, strategizing how to address problems with managers, navigating career changes, establishing plans for individual performance improvement, etc.

  • Financial counseling and support. Financial concerns are one of the top-listed sources of stress among the workforce today. Financial EAP benefits induce educational resources which train employees to better save, manage, and strategize their money. These can also include more palpable resources including debt repayment programs, tuition assistance, and retirement matching.

Financial health and EAPs

Many other painful life circumstances can be mitigated through financial stability. But few American adults consider themselves financially literate, so achieving monetary security for themselves as well as their families feels a long way off for many people. This makes EAPs which provide financial resources absolutely invaluable, and a key tool allowing life-changing access to more empowered money management and skills.

How EAPs can help improve financial health

Financial EAPs offer a combination of educational and more palpable resources that can help employees improve their financial standing both now and in the future. 

Financial health means long-term monetary stability and security gained through a combination of practical resources and financial know-how.

Educational benefits can teach workers how to make smarter decisions when it comes to spending their money, especially if they are considering buying a home or car. This can help them to avoid unnecessary debt, and to better understand how to manage and pay back their debt if it is incurred. 

Many organizations offer financial support for students such as tuition assistance or debt repayment programs which offer better financial stability through lessened loan responsibility on the part of the worker. Less debt means better prospects regarding saving, retirement accounts, and investment potential.

Financial counselors sourced through EAPs also help workers figure out what to do with their money, how to budget more effectively, how to engage credit effectively, and how to set up emergency funds that won’t break the bank should problems arise. 

All of these things in tandem afford better financial wellbeing and long-term monetary health. 

Final thoughts: EAP benefits for employees

A supported and healthy workforce is the key that allows most businesses to thrive. And EAPs are what give your employees the resources they need to lead healthy and stress-minimum lives both in and outside of work, resulting in better performance and wellbeing for all. 

Origin is one composite financial program which your organization might consider offering through your company’s EAP. Origin offers a combination of financial education as well as practical tools that allow employees to take charge of their finances and build a better future for themselves and their families. 

Sign up for a demo with Origin today.


How financial wellness can help your DEI strategy

Download now