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Lost Productivity Calculator
Is Lost Productivity Affecting Your Company’s Bottom Line?
Healthcare costs are one of the most staggering expenses for a business. But employees working through an illness or injury may contribute to even higher costs due to absenteeism, missing work because of their health condition, or presenteeism, when they attempt to work through their medical condition. A comprehensive approach to managing disability can help reduce these costs and help keep employees on the job and productive.
Enter two fields below — your company's payroll and total employee compensation — to find out what your company could be losing due to poor employee health.
Absenteeism costs often include productivity losses associated with employees missing work. A number of indirect costs can result from habitual employee absences, including overtime, temporary staffing, replacement training and poor product quality.
Presenteeism is productivity loss caused by chronically ill employees at work. A number of additional costs can result from employee presenteeism, including missed deadlines, extended breaks and lower overall output.
These are costs associated with an employer's health insurance benefits.
1 The Total Costs of Workforce Health, Integrated Benefits Institute, 2015.
2 Executive Summary: Total Financial Impact of Employee Absences in the U.S., Society for Human Resources Management and Kronos Incorporated, August 2014, shrm.org/research/surveyfindings/documents/kronos_us_executive_summary_final.pdf
3 Employer Costs for Employee Compensation, Bureau of Labor Statistics, June 10, 2015, bls.gov/news.release/ecec.nr0.htm.
A comprehensive approach to managing absence and disability can help mitigate the effects of lost productivity on your workforce. Learn more by reading the Workplace Possibilities blog.