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New website counts the cost to business of sick days 11 August 2006 With sickness absence costing companies billions of pounds every year – a new website has come online so businesses can quickly calculate the true extent of the financial headache they’re left nursing when employees fall ill. In just a few seconds companies can now tap into www.costofabsence.com and get a snapshot of the sick day bill they face. And as more and more of the nation’s workers find themselves in the doctor’s waiting room and UK companies pick up the £13 billion tab, the results can be potentially disastrous for any company. Top of the table for sickness absence are telecoms – a business with 100 staff faces an annual bill of £123,400. Companies in the electricity, gas and water field come second – the cost of ill health rises to £100,600 a year, with the health sector in third place, saddled with a £77,800 sickness absence price tag.* Local government workers are the most absent amongst us, taking on average 11 days off per year, while those people working in the hotels, restaurants and leisure trade are the least absent taking just 5.1 days. As for journalists – well they take 5.4 days off per year. www.costofabsence.com is the brainchild of Bupa Health Insurance, using data from the Chartered Institute of Personnel and Development. Readings are based on the type of industry, postcode, number of employees and average employee salary. Ann Greenwood, director of business markets for Bupa Health Insurance, said: “Businesses need to understand the impact that sickness absence can have on them, in terms of their performance, productivity and efficiency, as well as the effect it will have on their employees. “This simple device provides, at the touch of a button, an instant quote tailored to any organisation whatever shape or size. The figures will be a shock to many companies but businesses can take preventative action and private health cover can be a major step towards achieving a cleaner financial bill of health.” Figures out from the CBI estimate the cost of employee absence to the UK economy rose to over £13 billion in 2005 with a total loss of 164 million working days. Although not a cure, private health cover with Bupa could help employees get prompt access to diagnosis and expert medical care when and where they need it, and get appointments at a convenient time to fit in with work commitments. Without private health cover employees could spend time waiting longer for treatment, which would mean them being off for longer periods adding to the sickness cost to a business. Data for sickness absence calculator by industry:
Source: CIPD Absence Management 2006 *All companies mentioned have been calculated on the basis of having 100 employees.
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