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While South Africa is dealing with an economy which is severely under strain, the public is finding it harder to make ends meet.
Loss of productivity in the workplace has a major ripple effect in the economy. It starts with a few people not being able to focus on their work or being absent excessively, which in turn impacts others and, over time, can eat significantly into a company’s bottom line.
As the employee benefits landscape continues to shift and evolve, players in this fast-transforming market are realising that returning to ‘business as usual’ of years gone by, is no longer an option.
The cost of employee absenteeism to South African businesses stands at R12 billion annually, according to Statistics SA. Impacting on productivity, staff morale and a company’s bottom line, it is a risk that requires increasingly more focus. Are you as financial/healthcare adviser empowered to provide a solution to this risk?
The strongest deterrent against FSP compliance missteps is or should be: