The Total Cost of Absence Review

Through our partnership with Lockton, we provide organisations with an in-depth review of their total costs associated with absence. We identify the areas that’ll deliver the greatest impact when implementing a wellbeing program and measure ongoing effectiveness and Return on Investment (ROI).

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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:

Sick leave

Regrettable turnover

Opportunity costs within insurances and other leave types

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.

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Lockton research shows by comparison, the cost of workers’ compensation is typically less than 10% of the total cost of absence incurred by an organisation, yet this spend is what often gets the most attention.

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.

Wellbeing and the Cost of Absence: ASX-listed company

Book a free consultation on employee absence or undertake our Total Cost of Absence Review with a guarantee of utmost confidentiality.

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Waking up to Absence Report

Lockton have recently released their “Waking up to Absence” report which can help you to understand the top trends impacting workforce participation, reverse any trends in absence data and identify where to focus wellbeing initiatives that drive genuine ROI.

Download the report here

Understanding what the key drivers of absence within your workforce are is vital.

Our partnership with Lockton Australia – the world's largest independent insurance brokerage – enables us to provide organisations with an in-depth review of their total cost of absence, assess what areas will deliver the greatest impact when implementing a health and wellbeing program, and measure its ongoing effectiveness and ROI.

Your people are your greatest asset!

Looking after them makes good sense to business.

By taking proactive action to protect the wellbeing of your employees, the potential benefits are substantial for both your organisation and your employees.