Threat of long-term absence worrying businesses as they head into 2017, finds Kimberley Dondo
Over two thirds (68%) of employers believe that absenteeism is a growing issue, according to Legal & General’s Workplace Wellbeing research.
As this issue continues to grow employers need to be aware that employee absenteeism can cost a business on average of £120,000 annually.
Despite the research showing the increase in absenteeism, nearly one in ten (8%) of employers don’t consider it to be a threat to their business. This could be to their detriment as the research found that long-term absence would affect a business’s finances as well as its longevity.
However, of the employers who chose to treat absenteeism as a threat, 54% agreed the biggest threat would be an increase in long-term absence levels and 43% expressed concern about the cost to cover the work of the absent employee.
It is clear that businesses need to find a resolution in order to avoid long term absences which would in turn circumvent the high costs associated with this.
MartinuNoone, managing director, Legal & General Workplace Health and Protection, advised that “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.”