To see how much your business could save, simply input the number of people you employ and the potential cost savings will be shown.
Explanation:
Term | Definition | |
Absenteeism | Not attending work | |
Presenteeism | Attending work while unwell | |
Staff turnover | The proportion of employees who leave an organisation over a set period (often on a year-on-year basis) | |
Descriptions and figures | Source | |
Average number of days of absenteeism per employee per year: 6.9 | Chartered Institute of Personnel and Development (CIPD) Annual Survey Report 2015: Absence Management. | |
Cost per day: £92.27 | Chartered Institute of Personnel and Development (CIPD) Annual Survey Report 2014: Absence Management. | |
Cost of presenteeism relative to the cost of absenteeism: 1:2.5 | On the basis of the following research ERS assumed a ratio of 1:2.5 for the cost of absenteeism to presenteeism. Therefore for every £1 cost to business of absenteeism there is estimated to be an additional cost of £2.50 due to presenteeism.
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Annual estimated staff turnover: 15.7% | Chartered Institute of Personnel and Development Annual Survey Report 2009: Recruitment, Retention and Turnover Survey. | |
Average turnover costs per position: £30,614.00 | Oxford Economics (2014). Understanding the financial impact of staff turnover. |
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