Substance use disorders cost the nation an estimated $276 billion a year, mostly due to lost work productivity and increased healthcare spending. Both of those issues directly affect your bottom line as an employer. How can you help mitigate these costs in your business?
Workplace Wellness Programs
Wellness Programs are not only beneficial for general health improvement in your workforce, but can be tailored to include materials aimed at educating workers about the health and safety risks associated with drug and alcohol use and preventing substance abuse. In addition, these programs can:
- Have clinicians perform confidential screening to identify employees with substance use disorders;
- Refer employees to appropriate treatment options; and
- Provide support for persons in recovery
Employee assistance programs (EAPs)
Employee Assistance Programs (EAPs) are designed to help identify and resolve productivity problems affecting employees who are impaired by personal concerns. EAPs come in many different forms, from telephone-based services to on-site programs. Face-to-face programs provide more comprehensive services for employees with substance use disorders, including screening, treatment referrals and follow-up care.
The Benefits to your Business
How do Wellness Programs and EAPs really save your company money? Here are a few real-world examples from The Substance Abuse and Mental Health Services Administration (SAMHSA) of companies that realized a true benefit from these types of programs:
- Xerox workers who participated in a wellness program and limited their alcohol consumption enabled the company to reduce its costs for both healthcare and health insurance over four years, achieving a five to one return on investment.
- ChevronTexaco found that 75 percent of employees who entered the company EAP with alcohol problems were able to retain their employment, saving the company the cost of recruiting and training new employees.
- Gillette Company saw a 75 percent drop in inpatient substance abuse treatment costs after implementing an EAP.
Industries such as Construction, Manufacturing, and Wholesale have a prevalence of substance use. Businesses in these industries have a great opportunity to engage with a broker like The Gaudreau Group to find and implement solutions to help their workforce get healthier and reduce costs. As part of our comprehensive approach to Risk Management and Insurance Program Design, we craft customized Wellness Programs and engage with top EAP providers. Call us today to learn how we can help your business. For more information on the effect of employee substance abuse on businesses, read the SAMHSA’s briefs here.
At The Gaudreau Group, our professionals are well positioned to ensure that all of our clients weather any market conditions. Being part of the Renaissance Alliance allows access to superior Business Insurance options and expert Risk Management services. Through a network of more than 90 offices located throughout New England, we can offer you all the advantages and clout of a large national insurance company while providing you with personal accountability and localized services. The Gaudreau Group has innovative solutions, such as our Group Captive Insurance program, that empower our clients to reduce, control and profit from business insurance costs. With virtually every carrier and program underwriter within our reach, we can easily provide our clients the most efficient and cost-effective review…IN ANY BUSINESS CLIMATE.
