Most organizations not tracking costs of employee absences
Thursday, 22 September 2011 16:00workplace stress tend to take more days off than their counterparts who feel less tension.
This may factor into losses on an organization's bottom line, but a recent Society for Human Resource Management survey reveals that many companies do not keep track of the costs of employee absences.
A total of 79 percent of respondents said they keep track of how many days workers are taking off. However, 61 percent said they do not have a system in place to calculate losses of unplanned absences, and 53 percent reported a lack of tracking for costs of extended time off.
Organizations may want to start paying attention, since an article on a website of the Human Resources Network states that absences may cost as much as 36 percent of a worker's base salary. While unplanned sick days and other uexpected absences accounted for a lower expense overall, they end up costing more in the long run, since vacation days are often factored into a salary.
This suggests that employee wellness programs meant to reduce workplace stress may cut down on the number of sick days workers take, which may ultimately improve a company's bottom line.
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