The Ultimate Guide to Choosing the Right EAP Provider
Choosing the right EAP provider to support your employees is a critical decision. If you invest in an EAP program that’s well under budget yet doesn’t meet employee demands, then the investment isn’t worthwhile.
On the other hand, you could find a spectacular EAP program with high-quality solutions that fits perfectly in budget. But, this only happens if you conduct the research necessary to find the right provider for your company.
The truth is, there’s many factors to take into consideration when it comes to choosing the right EAP provider. While it may be easy to go wrong, we at Senior Providers Network want to help by providing you with a start-to-finish guide to choosing the right EAP provider. The right plan will help your business to avoid costly mistakes and improve employee well-being, productivity, and increase your company’s potential ROI.
- Evaluate Your Company
It’s helpful to compile all of the data on your company and employees you can find before you can determine what the right benefits are for your company. Send out polls and surveys to employees to dive deep into where their true needs and shortcomings lie. Ask questions like: “What are your most pressing need for support? How often are you away from the office and why? Are there any benefits we fail to offer that you need? If so, what are they?”
Furthermore, if you currently offer workplace benefits, analyze the utilization rates and data for those to determine if they’re necessary, or if they can be replaced with something more effective. Once you’ve gathered all necessary data you’re able to continue on with data-driven decisions.
- Determine What Your Needs Are
After you’ve compiled your data, you’re able to determine what your company and employee needs are. So, do they need an eldercare EAP program to help them with caring for their elderly loved ones? Are they in need of more paid leave due to burnout or exhaustion? Did you see an influx of requests for employees searching for mental health services or counseling?
The range of employee benefits are quite wide, but once you’ve analyzed your data, you then can determine what your most pressing employee needs are. If a great deal of your employees attributed their absenteeism to caring for their elderly parents, you can move on knowing that your next step is to find a high-quality, user-friendly eldercare EAP program. This will help directly solve employees’ biggest pain point and improve workplace performance.
- Network and Start Researching Available EAP Programs
Tapping into your company’s network as a resource is a great route to take when you’re researching available EAP programs. Speak to the companies you’re partnered with, or other companies you’re familiar with in your industry—maybe even see what providers they use to give their employees benefits and see how they’ve liked them. Google and using resources in your area are also optimal ways to find available EAP programs for your company.
Moreover, if you’re interested in hiring help to find the right EAP program for your company, an employee benefits broker is also a viable option. They’re often educated on legislative changes happening in health care, industry standards, and the top EAP providers to choose from.
- Do A Deep Dive on Each Potential Vendor
Now that your company knows exactly what you need and have a list of EAP providers you’re interested in, it’s time to do a deep dive on each potential vendor. You’ll research things like: How long have they been in business? What kind of medical professionals do they use? How highly rated are they in their reviews and/or customer testimonials?
It’s important to go with not only the EAP provider who offers the solution you need, but they also should be an expert in their field. While you’re doing a deep dive on each potential vendor, be sure to research their background, the business owners, and their mission. Once this is all done, you’ll have found the perfect EAP provider for your employee benefits.
If you’re looking for senior care assistance for your employees, Senior Providers Network offers a cost-effective, user-friendly eldercare EAP program that provides solutions to employees in minutes instead of days. Click here to request a demo and see how we can help your employees care for their elderly loved ones through our simple software and vetted providers.
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