The market of#nbsp;employee assistance programs (EAPs) continued to#nbsp;grow in#nbsp;2023 and will likely keep gaining momentum, as#nbsp;companies are trying to#nbsp;get ahead of#nbsp;the competition in#nbsp;the fight for talent and are increasingly resorting to#nbsp;creative and innovative ways of#nbsp;attracting the job seekers' interest. Find out more from our partner PRAVOCARD.
Comprehensive care programs are a#nbsp;new product for the Russian market. As#nbsp;part of#nbsp;a#nbsp;company’s assistance program, employees can take advantage of#nbsp;a#nbsp;wide range of#nbsp;services to#nbsp;make their daily lives easier#nbsp;— at#nbsp;their employer’s expense. For example, they can consult a#nbsp;lawyer, work through personal problems with a#nbsp;psychologist, get advice on#nbsp;family budgeting from experienced financial experts, and so#nbsp;on.
The demand for EAPs is#nbsp;on#nbsp;the rise, say the experts at#nbsp;PRAVOCARD, and they point to#nbsp;a#nbsp;number of#nbsp;trends that have emerged over the past year.
Firstly, the Russian market for corporate support programs is#nbsp;developing rapidly. The range of#nbsp;services offered is#nbsp;expanding, and new services and formats are emerging. Secondly, employees that have access to#nbsp;EAPs are using them increasingly often, which means that those who have already had a#nbsp;chance to#nbsp;try an#nbsp;EAP for themselves have certainly liked it.
Demand for mental health care and household services is#nbsp;growing fastest#nbsp;— PRAVOCARD believes that the focus of#nbsp;EAPs will increasingly shift in#nbsp;this direction.
The sphere is#nbsp;continuing to#nbsp;digitalize. Most services within the framework of#nbsp;corporate care programs in#nbsp;the Russian market are now provided online, which is#nbsp;convenient for both specialist consultants and employees.
The range of#nbsp;services available to#nbsp;employees through EAPs is#nbsp;growing, as#nbsp;is#nbsp;the number of#nbsp;formats in#nbsp;which they can be#nbsp;delivered. Employee assistance programs providers are constantly monitoring market preferences and flexibly adjusting their products to#nbsp;meet them.
According to#nbsp;PRAVOCARD experts' forecast, this year will see the emergence of#nbsp;corporate support programs that include not only the employee but also their family members, giving them access to#nbsp;a#nbsp;wide range of#nbsp;professional and household services, either free of#nbsp;charge or#nbsp;at a#nbsp;hefty discount.
In#nbsp;terms of#nbsp;global trends in#nbsp;the EAPs industry, the most notable one is#nbsp;that program providers are investing more in#nbsp;branding and building effective marketing communications. More of#nbsp;them are beginning to#nbsp;sponsor social and environmental projects, produce content for TikTok and YouTube, develop their own media and actively promote their services through influencers and opinion leaders.
By#nbsp;2024, PRAVOCARD believes, the prevailing perception of#nbsp;what should be#nbsp;included in a 'decent benefits package' will have changed substantially: more employers will be#nbsp;offering corporate support programs to#nbsp;differentiate themselves and attract talent, and more professionals will see such programs as#nbsp;a#nbsp;significant advantage when considering potential employers. This is#nbsp;part of#nbsp;a#nbsp;general trend towards the increasing importance of#nbsp;intangible motivation factors in#nbsp;the labor market.
One of#nbsp;the leading Russian providers of#nbsp;EAPs is#nbsp;PRAVOCARD. PRAVOCARD programs are used by#nbsp;tens of#nbsp;thousands of#nbsp;employees of#nbsp;the country’s largest companies. As#nbsp;part of#nbsp;these programs, PRAVOCARD offers expert legal, tax and psychological advice, as#nbsp;well as#nbsp;on-site services such as#nbsp;car and household assistance. All of#nbsp;this helps client companies' employees spend less time on#nbsp;personal day-to-day tasks and stay productive.