Employee absences are costing your business more than twice as much as health care, two recent surveys reveal.
Add productivity lost to “presenteeism”—i.e., the state of an employee who shows up for work too sick to focus on the job—and that cost soars to three to four times higher than medical and pharmacy costs.
Cutting even a fraction of those absences can have a potent impact on your organization’s bottom line—an attractive possibility in a tight economy when employers need workers to be as productive as possible.
Example: MGM Mirage lost the equivalent of eight full days of work every year to and presenteeism. That’s equal to $76 million in revenue or share value of 84 cents. HR took those numbers to senior and got the OK to boost wellness and productivity expenses, even in a slow economy.
“They had no other way of increasing their revenue by $76 million in the short term except by decr...(register to read more)
- How to Fire an Employee the Legal Way: 6 Termination Guidelines
- 10 Secrets to an Effective Performance Review
- How to Write Meeting Minutes
- Do year-end bonuses affect pay status?
- 5 ways to avoid firing in 5 months
- What's a 'tickler' file?
- Don't rely on software alone to determine employee's FMLA eligibility