Harting EAP to Include Chestnut Global Partners’ EAP ROI Calculator© in EAP Management Software
Bloomington, IL (PRWEB) November 22, 2016 -- Chestnut Global Partners (CGP), a provider of culturally-aware employee assistance and wellness programs to companies worldwide, today announces that its EAP ROI Calculator© will be included in Harting EAP’s software offerings: Daybreak EAP and the web-based Premier EAP. The ROI Calculator uses standard financial terminology and measures to give company benefits managers, HR personnel and CFOs a true baseline of their EAP’s effectiveness in reducing costs associated with employee issues. It generates the Internal Rate of Return and Net Present Value (metrics used in capital budgeting to measure the profitability of an investment). Harting EAP customers can use the Calculator to answer the fundamental question: is the savings sufficient to offset the cost of the EAP?
The EAP ROI Calculator© uses data from Daybreak and Premier, and enables each organization to tailor it to their unique demographics, such as covered employees, industry, occupation, region, and utilization rates. To promote ease of use, the 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.
“While the success of employee assistance has historically focused on utilization rates, client satisfaction, and surveys of symptom reduction or problem resolution, the most reliable measure is how EAPs affect specific workplace outcomes, including absenteeism, presenteeism, turnover, and workplace accidents,” said CGP’s Lou Servizio, the architect of the EAP ROI Calculator©. “The Calculator brings EAP in line with the data-driven metrics used in other business units, and gives CFOs a sophisticated tool to properly weigh the value of their EAP. Given Harting’s presence and reputation in the EAP market, it’s an honor having our ROI calculator embedded in their software.”
Organizations can use the Calculator in conjunction with CGP's Workplace Outcome Suite (which is also embedded in Harting EAPs software), a short, psychometrically tested and validated instrument that comprehensively assesses the efficacy of their EAP. The tool evaluates the EAP based on five critical "constructs": absenteeism, presenteeism, work engagement, life satisfaction, and workplace distress.
"Including the ROI Calculator© in our software is a significant value-add, enabling EAPs to prove the real world return to the companies they serve,” said James Harting, President of Harting EAP. “Generating this comprehensive, well documented ROI Report through our software packages takes minutes, not hours, and pays for itself in a matter of months. The report provides insights into financial returns, cost savings, utilization, outcomes, and increased productivity.”
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 150 countries, including Brazil, China, India, Mexico and Russia. 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.
Charles Epstein, BackBone, http://www.backboneinc.com, (561) 470-0965, [email protected]
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