Insurance and Pensions for 2015

Absence Management

Health in the workplace can have a substantial impact on a company’s profitability, whilst absence due to sickness is a growing problem for many employers.

A recent survey by the Chartered Institute of Personnel and Development (CIPD)* concluded that an average of 9 days was lost per employee each year due to sickness, at a cost of £588 per employee. This represents an increase on the previous year’s figures.

In our experience, most employers do not know the levels of absence among the staff, or take a proactive approach to managing it.

The operating margins of many companies are coming under increasing pressure, due to many factors, including rising insurance costs and Working Times Regulations. As a result, working practices may need to be reviewed more frequently, to manage costs more effectively.

If you would like assistance in calculating the cost to your business, simply click on the link below.

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Once identified, we can help you consider a number of solutions, either in-house or external, through an understanding of employer / employee relationship responsibilities and focus on the effects of health in the workplace. Solutions may include:

Some of the costs can often be met by a reduction in the premiums for your Group Income Protection scheme and / or Professional Indemnity insurance. * Based upon a working year of 228 days.

CIPD Employee Absence 2015 - a survey of management policy and practice, July 2015.