Description: America's Charities partners with businesses to optimize an existing employee relief and assistance fund, or establish and administer a new one.
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What is an Employee Assistance Fund?
An Employee Assistance Fund (EAF), also known as an Employee Relief Fund or an Employee Crisis Fund, is a program to help employees cope with unexpected hardships that place undue financial stress on them and their families. It empowers you to provide assistance by supporting your workforce financially through an external nonprofit partner that increases the flexibility of what hardships the fund can cover and lowers the administrative burden to the company and the employee.
No matter the scale or severity of the crisis, employee financial stress hurts companies and their employees. A Federal Reserve study found that employee financial stress costs employers an average of $5,000 per employee, per year, in lost productivity. Serving as a mechanism for employers to focus their corporate social responsibility (CSR) efforts inward on employee needs and wellness, many companies establish these funds to: