Absent employees costing SMEs
Apr 27 2007
With the latest research from the CBI finding that the UK economy lost 21 million days during 2006 due to employee sickness, Bibby Financial Services is urging business owners and managers to put staff wellbeing at the core of their business strategy.
David Robertson, chief executive of Bibby Financial Services, says: ‘The impact of the average UK employee taking seven days sick leave a year can have a significant impact on an organisation's productivity, particularly a small business where one person being absent can cause a significant dip in resources and subsequent profits.'
In order to help owners and managers build a positive working environment, Bibby Financial Services has developed the following tips:
• Communication is key – open and regular communication creates a positive, supportive environment where employees feel able to share their thoughts and concerns and gain a sense of involvement in the direction of the business while feeling part of a team.
• A skilled workforce – review staff development procedures and training provisions. Encouraging employees at all levels to learn new skills will keep them interested and motivated in their work.
• Be flexible – consider how flexible working practices could be implemented in your business. Employees with families are less likely to take time off and could potentially stay longer with a company that takes into account family and personal needs.
• Provide incentives – review incentive schemes and introduce a programme for your employees. This provides you with the opportunity to reward employees for their hard work and commitment and motivates them to do well, increasing productivity.
• Celebrate success – make all employees aware of any success within the company. Praising those responsible gives employees a greater sense of self worth and achievement and makes them feel part of the team.
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