Investor’s Business Daily
Richard Chaifetz’s ComPsych Provides Well-Being to World’s Workers
CEO Richard Chaifetz combines mental health expertise and business acumen to drive ComPsych’s success. Today, ComPsych is the world’s largest provider of customized programs for improving the lives of workers, ranging from overall wellness and work-life balance to meeting their needs for expert legal and financial help. It serves 100 million people in 160 countries, helping its 45,000 clients, to retain their best employees and increase productivity.
“We pioneered fully integrated EAPs to cover everything from crisis intervention to disability management, under our GuidanceResources brand, for organizations from small, private concerns to the Fortune 100,” Chaifetz said. “To be able to grow globally and serve so many industries, we empower our own employees to solve problems with a custom-fit for client needs. We encourage them not only to innovate, we expect them to challenge the status quo, helping us to avoid falling into the standardization trap that big companies often do.”
ComPsych has gradually expanded its offerings. One of the most critical is absence management, which helps companies meet the requirements of the two-decade-old U.S. Family and Medical Leave Act (FMLA) at a lower cost with less liability exposure.
Another area where the company excels is in managing the opioid abuse crisis. ComPsych’s multi-pronged approach can include cognitive behavioral therapy, managing inpatient and outpatient treatment by leading providers, coordinating with pharmacies, family support and 24/7 access to online workshops with master’s-level clinicians.
Enlightened corporate leaders have come to see the cost-effectiveness of employee wellness services, but ComPsych is especially appreciated during crises. During Hurricane Harvey last summer, the company conducted more than 450 critical incident stress management sessions.
Dale Grenolds, executive vice president at ComPsych, says Chaifetz is the type of leader that lets you take risks and be autonomous. “At the same time, he’s very direct in his feedback and clear about his expectations,” Grenolds said. “His drive and level of confidence push his people to achieve more and operate from a place of strength. And at times of crisis, he has a unique ability to create clarity and find solutions.”
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