Using the ROI calculator and the WOS holds programs accountable, shows their true real world return, and, ultimately, makes the business case for if or when investing in EAP and Health/Wellness Coaching makes sense.
Bloomington, IL (PRWEB) January 12, 2015
The Commercial Science Division of Chestnut Global Partners (CGP), a provider of culturally-aware employee assistance and wellness programs to companies worldwide, today announced a Return on Investment Calculator, enabling EAPs to show their customers the Internal Rate of Return (IRR) and Net Present Value (NPV) of their employee assistance program. The calculator complements CGP's widely used WOS, a short, psychometrically tested and validated instrument specifically designed for quick and reliable assessment of the workplace effectiveness of EAPs and Health Coaching Programs. EAPs can tailor the calculator to each company´s unique demographics, such as covered employees, industry, occupation, region, and utilization rates. To promote ease of use, the EAP ROI Calculator contains baseline data derived from published studies and research, which may be overridden with actual client data.
What the ROI Calculator Assesses:
- Reduced presenteeism and absenteeism (calculates savings from reduced productivity losses);
- Reduced employee out of pocket expenses associated with visits to benefit based providers ;
- Reduction in accidents caused by distraction with issues;
- Reduced costs associated with turnover (voluntary or involuntary due to performance issues), including replacement, relocation, retraining, and disability costs; and
- Reduced medical costs of co-morbidities associated with stress. self-insured employers).
Organizations using the calculator in conjunction with the easy-to-administer and free WOS can accurately and comprehensively assess the efficacy of their EAP, as it measures five critical constructs: absenteeism, presenteeism, work engagement, life satisfaction, workplace distress.
"One of the most common and completely justified complaints regarding EAP is the lack of a broadly acknowledged standard in assessing real-world effectiveness -- which both the WOS and the ROI calculator finally address," said Matt Mollenhauer, VP of Operations for CGP. "Both tools bring EAP in line with the data-driven approaches that are changing the way organizations conduct all phases of their business and answers the one fundamental question all benefits purchasers must ask: how can I know that these programs improve the health and productivity of my workforce? Using the ROI calculator and the WOS holds programs accountable, shows their true real world return, and, ultimately, makes the business case for if or when investing in EAP and Health/Wellness Coaching makes sense."
The ROI Calculator is available directly through Web Access and includes telephone support from CGP's experienced EAP and research analytic consultants. Copies of the free WOS are available at http://www.eapresearch.com.
About Chestnut Global Partners
Chestnut Global Partners (CGP) is a behavioral health organization based in Bloomington, IL that offers a full range of culturally aware employee assistance and related workplace services. CGP combines EAP with wellness, disability, high risk maternity, employee safety and compliance management programs, designed to promote employee well-being, improve performance and reduce absenteeism.
Chestnut Global Partners serves companies in over 140 countries, including China, Russia, India, Hungary, Mexico and Brazil. Chestnut Global Partners’ Division of Commercial Science develops and deploys scientific assessment technologies, outcome measures, and analytical methodologies so that EAPs, wellness companies, disease management entities and purchasers the world over can determine the effects and/or worth of their programs. For more, visit http://www.chestnutglobalpartners.org.