An effective absenteeism management system is the only one way companies can reduce absenteeism costs. To minimize absenteeism costs for your company, the first thing you should do is to check if you have any problems with employee absenteeism.
First of all, you need to collect data on the individual absenteeism rate of employees in your company. These should be checked regularly, rigorously, and frequently on the vacation monitoring platform to identify obvious trends if they are not present.
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You can measure the amount of each absence in terms of lost time. To do this, divide the total number of absences by the total number of hours worked expected and multiply by 100. This gives you the percentage of time the employee was absent.
The best way to find out if your staff is not working more or less than they should be is to compare this number to similar companies. By conducting a comparative analysis of business in such an industry, you should be able to determine if your employees were absent more or less than expected.
However, it is important to remember that benchmarking is only indicative and should be used with caution as every company, work environment and employee is different. If an employee absenteeism analysis shows that employees are absent from work more than expected, it may be time to re-evaluate your absence management system.
In large organizations, monitoring and comparing absenteeism rates can be time-consuming. Small companies that don't have a human resources team often don't have the resources to do it themselves.