We have recently launched two new features to help HR become more data-driven and aligned to the business when dealing with absence management. We recognise that it’s not enough for HR to simply provide the business with an overview of absence numbers and comment on whether the numbers are up or down on the previous quarter. To enable HR to bring more to the business table we have introduced absence rate and absence cost.
Absence rate is displayed as a percentage on the homepage dashboard for account Administrators and HR users. This will provide a live snap shot which updates automatically as soon as sickness (or the time off type you use to record unauthorised time off) is entered into the system. To calculate the absence rate you can choose the period over which you would like absence to be measured, such as 12 months or 6 months. The system will then calculate a percentage of time lost that could have been worked had there been no absence.
An absence rate report can be produced to allow you to filter the data down such as looking at different departments or show an absence rate for each individual employee.
HR and the business can now understand the cost of absence over a given period. You can enter an average cost at both a daily and hourly rate against the variables that are impacted by an employee taking unauthorised time off. This includes things like overtime costs, agency costs, training costs and HR admin costs to name a few. The system will then calculate an average cost based on the total salary and benefits expenditure.
Under the Financial Reports, an Absence cost report can be produced to give both an overview of the costs to the business and again allow to drill down into the costs for example by the department.