Financial justification for an EAP. Why CFO´s should love EAP´s!
Employee Assistance Programs are a popular way for employers to prevent manageable emotional, relationship, legal and financial issues from becoming major issues, with considerably higher costs.
EAP´s generate many savings in reduced presenteeism, absenteeism, turnover-related costs (relocation and training), disability, and health care premiums. But how does one quantify each of these savings and calculate the ROI of an EAP?
Please select the following link for answers: [link pdf – Workspan Article Why CFOs Should Learn to Love EAP.pdf]
Lou Servizio, MS
Louis A. Servizio it's the President and Founder of the Disease Management Strategy Group Inc. and has more than 25 years of experience in converting benefits into investments, strategic planning and preemptive programs. He graduated from the College of the Holy Cross, majoring in Mathematics, and completed a Master of Science degree specializing in finance at MIT.
In 1991, Servizio developed Wellcast ROI™, an analytical tool that predicts the financial return rates of programs and interventions that reduce physical and behavioral diseases. The software is internationally utilized, with localizations for each specific country.
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