Calculating The Cost of Sick Absence

We cover elsewhere on this site the physical, mental, emotional and behavioural impact poor wellbeing can have. Here we provide a tool to approximate the financial costs associated with sick absence. (If you need any support determining the relevant figures for your organisation, please get in touch). The total figure for sick absence it produces provides us with a compelling business case for promoting wellbeing in the organisation. We’ve included below the amount you’ll save with just a 10% reduction in sick absence. 

Calculator

Average working days lost annually per employee
Average daily cost per employee (e.g. salary)
Your total number of staff
Total cost annually to your organisation
Cost savings
 

According to a CIPD report on sickness absence, it has been reckoned that genuine illness accounts for between a half and two-thirds of all absence, and we obviously want to support staff who are genuinely ill to recuperate and recover, and to return back to work. SMP can help you to make significant cost savings and to reduce the figures above by addressing the issue of non-genuine sick absence, and poor wellbeing such as stress/work-related stress. Working at the individual, managerial and organisational level, we are involved in fostering and engendering in organisations a culture of engagement, motivation, resilience, optimism and personal responsibility, and making a real difference to individual and organisational wellbeing and performance.

Other organisations are benefitting from our support and expertise, so why not get in touch now to start cutting costs and maximising performance for your organisation too? Call us on 0118 9001652 or drop us a line at info@stressmanagementplus.com to find out more.  

We're helping organisations (see our client list) to save money every day, just in reducing sick absence costs and the costs of under-performance.

Get in touch now to start doing the same for your organisation today. Here are some example case studies demonstrating the benefits of investing in wellbeing.

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