Absenteeism costs SA economy billions

ED RICHARDSON BUSINESSES CAN save millions by simply keeping check of staff absenteeism, according to a newly published report. It points out that businesses with 250 employees earning around R7 500 per month, lose more than R2.5 million due to an 11% absentee rate. “If we were to tot up the financial losses to the South African economy as a result of unchecked absenteeism, it would amount to several billion rands in lost revenue,” says Neil Lilford, MD of employee benefit and services risk management of the HWH 494 Integrated Human Capital Company