Parity Can Help Retain Talent

by Terry Cahill

Fun Fact: The Chicagoland Chamber’s EAP costs less than a typical Type A manager spends on daily lattes in a year. 

That’s according to Monday’s OpEd in Crain’s Chicago Business by Jerry Roper, the Chamber’s president & CEO.

His piece titled, “Wellstone-Domenici parity act offers opportunities for employers to retain talent,” talks about the pending talent shortage that will hit American as baby boomers retire and the benefit of embracing Mental Health Parity as a strategy for attracting and retaining your best workers. 

He also identifies employee assistance programs (EAPs) as a key component of that effort.

“…EAP is a confidential service that helps employees handle everything from mental illness and addiction to legal and financial troubles. Managers can turn to an EAP to address management and productivity issues when employees show signs of trouble. All of that translates into a stronger company, which helps the entire community.” 

– Jerry Roper, President and CEO, Chicagoland Chamber of Commerce

Jerry predicts that there will be a shift in employee management and that managers will need to invest in the health and well-being of employees in order for businesses to attract high-caliber talent and remain profitable.

I couldn’t agree more.

He also points out that research validates the business case for encouraging employees to seek healthcare and mental and behavioral health treatments – because businesses are rewarded with improved morale, lower healthcare costs over time, better employee performance and reduced employee turnover.

EAP can play a significant role in helping businesses address parity compliance while serving the best strategic interests of their organizations. 

But, I also know that “compliance” can be a scary word. 

Don’t be shy about asking for help on this one.  If your business is concerned about parity and understanding the impacts to your organization, there is help available.  A good place to start is Jerry’s OpEd.  You may also want to check out these Mental Health Parity Tips for Business

The compliance deadline is July 1, so there’s no time to waste.

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