Published
May 21, 2019
For nearly 20 years, the U.S. Chamber of Commerce Foundation has been helping the private sector prepare and respond to both natural and man-made disasters. During this time, its portfolio of work has evolved alongside the private sector to continue to meet the needs of the community. As the U.S. Chamber Foundation expands how it supports companies who are responding to disasters, the U.S. Chamber Foundation is excited to announce a partnership with America’s Charities to offer an Employee Assistance Fund (EAF) program to provide management services for employers looking to offer an EAF program to employees.
A growing number of companies are not only responding to what the community needs when disaster strikes, but also focusing on the individual needs of their employees who are impacted. This is often managed through an EAF—also known as an Employee Relief Fund or an Employee Crisis Fund—which provides short-term assistance to employees facing unexpected financial hardship resulting from a disaster or other life event.
According to two U.S. Federal Reserve studies, 44% of Americans can’t cover a $400 unexpected emergency expense, which can equate to an average of $5,000 cost to an employer per employee per year because of loss in productivity due to employee financial stress. Assisting employees through an EAF program allows them to recover more quickly, demonstrates a company’s care for their workforce and commitment to their well-being, and can provide co-workers an opportunity to help their colleagues.
A leading way to distribute EAF resources is through an external nonprofit partner that increases the flexibility of what hardships the fund can cover, as well as lowers the administrative burden to the company. Each EAF is tailored to the parameters and qualifications provided by the company, ensuring it aligns with its corporate values and culture. With an already established infrastructure, the U.S. Chamber Foundation and America’s Charities can quickly launch and mobilize your company’s EAF.
The U.S. Chamber Foundation and America’s Charities are partnering to ensure our EAF program has the same standard of excellence we bring to all of our work. We each bring decades of experience in working with the private sector and this new offering will help companies of all sizes better support their employees.
You may visit our EAF program website to learn more about our offerings as well as the benefits of forming an EAF.
About the authors
