Solutions to curb the spiralling trend in absenteeism and unproductivity
According to SCubed, the productivity indices' in South Africa compare poorly to those of its major competitors. Research estimates that a company with 500 employees and an annual staff cost of R60 million, will lose up to two hours of productivity per employee per day. Employees will, on average, be absent for 6 days per annum and the company will have a staff turnover of at least 10% per year. This reality has the following financial implications: R15,750,000 is lost due to an unproductive and misaligned workforce, R1,000,000 is lost due to absenteeism, and R850,000 is lost as a result of staff turnover and placement cost.