Employers are seriously concerned about the cost of absence to their business, finds Kimberley Dondo
Absenteeism is a growing problem for employers, with over two thirds (68%) expressing their concern in a survey by Legal & General for their Workplace Wellbeing research.
The concern shown by employers is not unsubstantiated as the research revealed that employee absenteeism is estimated to cost businesses in the UK on average £120,000 a year. Over two fifths (43%) of employers admitted to being worried about the cost to cover the work of the absent employee and a further 54% agreed the biggest threat would be an increase in long-term absence levels.
As a result of these findings it isn’t surprising that 97% of employers are eager to find a solution that would reduce the costs of staff absenteeism. However a small number of employers did not share the same concerns: 8% of the employers involved in the survey stated they would never treat absenteeism as a threat to their business.
MartinuNoone, managing director, Legal & General Workplace Health and Protection, said: “Our research highlights the interest from employers to find a solution that would help to reduce the cost of employee absences to their business. Group Income Protection can aid the longevity and stability of a business, but is also important for an employee who has had to take unexpected long-term leave. The employee can be provided with the essential financial support and rehabilitation where appropriate, to allow a speedy recovery, meaning the individual will be able to return back to work at the earliest possible time.”
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