New research findings indicate that a quality employee wellbeing program can yield an ROI of $10,000 per employee, per year.
That’s according to data compiled by workplace wellbeing and performance provider Davidson Trahaire Corpsych (DTC), who surveyed over 4,700 individuals to arrive at the figure.
“We all know that looking after employees is the right thing to do for the health of your people, but now we know it’s also the right thing for the financial strength of your business”, Michele Grow, CEO of DTC said.
What’s more, absenteeism can also decrease by one third when quality employee assistance programs (EAP) are in place.
“Far from being just a ‘tick-the-box’ exercise, this data shows that taking an active role in supporting your staff can reap significant dividends for the business,” Grow said.
The study found that an EAP provides a cost benefit of $10,188 in productivity improvements per year for each employee who uses the program.
In addition, the study also found a huge cut in absenteeism following the EAP, with the number of days staff took away from work down by 32 per cent.
“Employees can be impacted by any number of stressors affecting both their personal and work functioning, which, in turn, can have a negative impact on an organisation’s productivity and profitability”, Grow said.
Of the measures assessed, emotional wellbeing showed the greatest improvement following the EAP, with a 87 per cent improvement rate.
This was followed by morale and motivation in the workplace, with an improvement rate of 51 per cent. Productivity in the workplace also increased by over a quarter.
