What is the Total Cost of Absence Review?
The Total Cost of Absence Review is designed to help organisations understand the true financial impact of absence within their business, incorporating factors including:
- Sick Leave
- Regrettable Turnover
- Opportunity costs within insurances and other leave types
Did you know...
We often focus on workers’ compensation costs… yet they’re usually less than 10% of the total cost of employee absence.
How does it work?
Conducting a deep dive analysis of your data, you’ll receive an overview of the absence profile of your business.
You can then build a financial business case to identify the return on investment from inclusion of wellbeing programs designed to target the areas of greatest need within your business.
By identifying these other costs, we will develop a business case demonstrating the financial return on investment of intervention through the introduction of programs which will reduce the amount of absence, for example unplanned leave.
What are the benefits of undertaking the Total Cost of Absence Review?
Quantify the total cost of absence in your business.
Create the business case for implementing programs to improve these areas.
Present the data analysis and recommended health and wellbeing solution.
Monitor financial and health and wellbeing outcomes against forecast KPI’s.
Case study
Wellbeing and the Cost of Absence: ASX-listed company
Interpreting the data
The charts below illustrate how unplanned leave, avoidable turnover and insurance costs contribute to the total cost of absence. By quantifying these factors, leaders can build an ROI case for targeted wellbeing initiatives and then track outcomes against baseline metrics over time. (Data is illustrative; we tailor analysis to your organisation.)
Book a free consultation on employee absence or undertake our Total Cost of Absence Review with a guarantee of utmost confidentiality.
Trusted by
Healthy Business has been fortunate to partner with some amazing organisations, all committed to achieving positive health and wellbeing improvements for their people.
Trusted by
Healthy Business has been fortunate to partner with some amazing organisations, all committed to achieving positive health and wellbeing improvements for their people.
