Absenteeism and Presenteeism Cost Companies $438 Billion in Lost Productivity
Companies are grappling with substantial challenges from absenteeism and presenteeism, which are incurring significant productivity losses. A recent study showed that global employee engagement dipped in 2024, leading to an estimated $438 billion in lost productivity. Experts caution that presenteeism, where employees are present but underperforming, can be more detrimental than absenteeism.
To tackle these issues at their core, companies must concentrate on how work is structured and led. This involves addressing workload, manager quality, mental health support, flexibility, and the physical environment. Traditional remedies like wellness perks and occasional days off are inadequate. Instead, cultivating a health-conscious culture, offering flexible working models, and clearly communicating that recovery takes precedence over presence are vital steps. Providing health promotion programs, establishing clear substitute regulations, and maintaining open, regular dialogue between management and employees can also promote sustainable productivity. A 2024 study found that addressing absenteeism and presenteeism at their roots can provide a competitive edge by sustaining peak performance. Depression and anxiety alone cost $1 trillion in productivity losses annually, underscoring the urgent need for action.
Absenteeism and presenteeism are substantial productivity drains, with global employee engagement declining in 2024 and costing an estimated $438 billion in lost productivity. To effectively address these issues, companies must focus on the root causes and implement sustainable solutions. By doing so, they can not only enhance productivity but also gain a competitive advantage and support the well-being of their employees.
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