Most department heads and managers are unaware of the true cost of absenteeism in their organizations. See the staggering numbers on the true cost of employee absence, including:
Total costs of all major absence categories, including direct and indirect expense as a percentage of base payroll
Lost productivity due to absenteeism, accrued and FMLA leave, and planned and unplanned absence; across union, hourly, exempt, and other employee types
Risk factors including employee complaints, grievances, and lawsuits experienced on average by participants
How much is employee absence costing you?
On average, employee absence accounts for the equivalent of 35% of base payroll.*
Employee absence can take many forms: vacation; sick time; and government-regulated leave, like FMLA. Each of these absence types - whether planned, incidental, or extended - carries with it its own costs, management headaches, risks, and productivity hits.
Want to learn more about how to control the cost of employee absence in your organization? Download the Mercer study on employee absence to gain a greater understanding of the scope and impact of absenteeism.
* Source: “Survey on the Total Financial Impact of Employee Absences,” Mercer (2010)
Credit Union Times is the nation's leading independent source for breaking news and analysis for credit union leaders. For more than 20 years, Credit Union Times has set the standard for editorial excellence and ethical, straight-forward reporting.