"There is much discussion about 'sick Britain' and the UK's lack of productivity but employers can deal with this issue better when they are well-informed. Absenteeism, and its close relation, presenteeism, can cause problems for organisations of all shapes and sizes, and they can be difficult for employers to tackle if they don't have an accurate understanding of the magnitude of the issue within their own organisation."
"When the necessity of tracking the impact of sickness absence is recognised and implemented, the predominant method used by employers is the cost of lost time i.e. hours and days (48%). The loss of productivity is a measure used by 45% of employers, and calculating the cost of sick pay provision (e.g. Statutory Sick Pay and salary costs) by 40%. Thirty-nine per cent measure indirect costs, such as colleagues covering work, learning time, and management time; and 34% measure direct costs, such as for temps and agency fees."
"It's vital that employers record absence and have a good understanding of the impact to their business. Those that do, are in a much better position to know what support to put in place, and can then measure the return on investment of mitigating absence and expediting returns to work."
GRiD research finds 32% of employers do not measure the impact of sickness absence, a reversal from 2024 when 69% measured impact and 27% did not. Absenteeism and presenteeism reduce productivity and pose challenges across organisations, and lack of accurate measurement hampers effective responses. Employers that record absence and understand its business impact can identify appropriate support and measure return on investment when mitigating absence and expediting returns to work. Common measurement methods include cost of lost time (48%), productivity loss (45%), sick pay costs (40%), indirect costs like cover and management time (39%), and direct costs such as temporary staff (34%). Employee group risk benefits can support health and wider life challenges that contribute to absence.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]