U.S. Employee Program Services Market to Reach $3 Billion by 2027 - Arizton

According to Arizton's research report, U.S. employee assistance program services market to grow at a CAGR of over 11% during 2022-2027. Massive healthcare costs in the United States have necessitated the need for employee assistance programme (EAP) services in order to maintain a thriving standard of high-quality life.Corporate profits that recorded an uptick after a long period of sluggish growth is fueling the adoption of assistance programs. This has put the employees in a better place to allocate budgets for corporate assistance programs. Therefore, the EAP services market in the US is expected to witness growth during the forecast period.

Corporate assistance has made a seismic shift by bringing in a new era of customized education and solutions that tend to each employee's individualized well-being using AI. Using AI, employers can sustain employee engagement between human touchpoints, build a deeper profile of their employees in real-time, and help with scaling up their assistance programs without relying heavily on resources. It can also help circumvent numerous health hurdles by triggering behavioral change after analyzing personality traits and habits.

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The COVID-19 pandemic has increased the need to address employees' mental health issues in an already assistance-challenged system. While businesses have found ways to physically protect their employees by providing tech support and implementing new leave policies, the mental health disruption is expected to continue. Companies have become hyper-focused on meeting pandemic-related challenges with kindness and creativity. From helping employees adjust to the new normal and be agile to reducing health risks, employers are focused on preventively and proactively managing the same. This is expected to increase access to assistance and expand or improve the quality of already existing programs. For instance, Ally Financial has expanded its already-existing financial, mental health, and medical benefits to include more services, such as free telemedicine consults customized for the pandemic. It also offers access to mental health professionals, financial planning support, credit monitoring, certified planners and well-being challenges and modules that would aid employees with staying healthy at home.

The leading market players include:
• ComPsych Corporation
• Canopy
• Continuum
• Empathia
• AllOne Health Resources
• KGA
• McLaughlin Young
• New Avenues
• SWEAP Connections
• LifeWorks
• Beacon Health Options
• Ceridian HCM
• My Secure Advantage
• Novant Health
MARKET SEGMENTS
• Service Type
o Personal & Work Stress
o Mental Health
o Substance Abuse
o Family Relationship
o Health Education Services
o Others
• Delivery Model
o External Vendor
o Internal Vendor
o Hybrid
• Interaction Platform
o Face-to-Face
o Video & Telephonic
o Mixed
• Gender
o Men
o Women
• Industry
o Government
o Media & Technology
o Healthcare
o Manufacturing
o Colleges
o Others
• Region
o South US
o West US
o Midwest US
o Northeast US

To know more: https://www.arizton.com/market-reports/us-employee-assistance-program-services-market

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This release was published on openPR.