Absentee Management Programs Boost Company Productivity

Written by on 5/10/2017 1:35 AM in , , . It has 1 Comments.

Could a workers comp insurance consultant help you better manage long-term absences and the way they impact your productivity and bottom-line? A new study from The Guardian Life Insurance Company of America has unearthed ways employers are utilizing certain programs to aid employees – and their businesses - during absences.

Key Takeaways:
The hope is that businesses taking advantage of certain absence management strategies can create better outcomes for their company, as well as for the employees in need of the long-term time off. In the study, employers received one-point for every element (out of 10 total elements) that equaled a full absence management program, including:

Best Practices

  • Return-to-work programs
  • Health management referrals
  • Reporting capabilities
  • A centralized intake process
  • Resources for FMLA leave and short-term disability

Supporting Practices

  • Wellness/prevention programs
  • Program incentives
  • Disease management referrals
  • Integrated reporting for FMLA/disability
  • Centralized STD/FMLA administration

Climbing to Success
The 2016 company index scores averaged 4.4 – an increase from 3.7 in both 2014 and 2012 surveys, showing the biggest gains in mid-sized businesses (those with 250-1,000 employees). Sixty-three percent of these programs have shown both an increase in productivity and a positive employee experience, with 61% reducing lost time - a 10% increase from the previous study (2014). Fifty-seven percent have also reduced absenteeism-related costs, a substantial improvement from 38% in 2014. Nine-of-ten now offer such programs, with 32% investing in resources to add them to their arsenal.

Not sure how to get the absenteeism management ball rolling? A workers comp insurance consultant can set you on the path to success. Learn more from Minnesota Comp Advisor today.

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