Studies confirm the alarming impact of unscheduled employee absence on employers' viability. Leave and disability programs are comprised of a combination of PTO policies, benefit plans and administrative procedures, which result in the cost of unscheduled absences often being understated.
Because of the direct costs of absence and the associated productivity losses, employers are now focusing on customized workforce solutions to remain competitive.
In the coming years, more than 80 million baby-boomers will drive leave and disability costs upward as they assume increasing family care-giving responsibilities and experience declining health.
The average loss of efficiency when a replacement stands in for an employee who isn’t there.