According to research conducted by People Management seven out of ten HR professionals are not aware of how much poor health and absence costs their organisation. While 65 per cent of respondents were confident that they knew their firm’s true sickness absence rate, 70 per cent were not able to estimate the total cost of ill health to their organisation – including indirect expenditure such as health insurance.
“In order to make effective decisions about the costs and benefits of health policies, HR professionals need to have a firm grasp of the figures and finances behind them,” said People Management’s news editor James Brockett.
“The survey shows a high level of awareness of absence rates, as one might expect, but practitioners would do well to look beyond absence if they want to accurately consider employee health issues in the round.”
Interesting research from People Management. If you are in the 70 per cent range of HR professionals that are not able to estimate the true cost of ill health to your organisation, join Softworks next Tuesday 1st May for a 45 minute free webinar and we will reveal all.
Furthermore we will demonstrate why absenteeism remains a persistent problem for organisations despite the fact that many organisations have first class policies on absence management in place. By the end of this session you will learn the true costs of absenteeism, how to put absenteeism policies in place that will actually delver and how you can reduce absenteeism costs permanently.