Who Actually Measures the Cost of Absence Anyway!?
Do you know how much employee absence is costing your organisation?
According to figures published by CIPD last year, we’re looking at approximately £554 per employee per year!
How Accurate are These Figures?
Of course, these numbers need to be taken with a pinch of salt – after all, every organisation is different. And these figures are, of course, gathered from companies who have actually bothered to track, record and calculate how much absence is costing their organisation.
Here is a breakdown of which sector is leading the charge in terms of measuring the cost of absence:
Public Sector: 49%
Manufacturing and Production: 38%
Private Services: 33%
As you can see, these figures are more likely to apply to your business if you are in the public sector, as these were the largest contributors and this is therefore the sector that this annual cost can be most accurately applied to.
How to Track and Reduce Absence
Here are a few ways you can reduce absence and save money for your organisation:
- Understand Why Absence Occurs. If you find out the route cause, it becomes easier to solve! Why not take a look at our infographic on the top 3 reasons for sickness absence in the UK?
- Track Patterns of Absence. Tracking who takes time off and when can help you to target the problem absences that are bringing the rest of your organisation down. One of the most widely-used ways of tracking and tackling problem absences is the Bradford Factor.
- Understand What Your Absence Statistics Mean. If you don’t know what the numbers all mean, it’s going to be hard to turn them into absence-tackling action. If you use People HR, this article will help you to understand your absence figures more easily.
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