More staff turning to EAPs for credit, debt help: Report

Employer’s role to educate, inform but not counsel
By Amanda Silliker
|Canadian HR Reporter|Last Updated: 10/11/2011

About two-thirds (63.2 per cent) of the times workers accessed their employee assistance program (EAP) for financial assistance last year, it was for personal debt or credit issues, found a report by MorneauShepell.

“The accesses for debt and credit are overshadowing what we looked at people accessing in previous years concerning investment, pension, retirement and those types of things,” said Karen Seward, executive vice-president of business development and marketing at the HR consulting firm in Toronto.

“In 2010, EAP access for debt and credit counselling definitely went up.”