Presenteeism can cost employers money without them even realising. But what is Absenteeism and Presenteeism? And how does it cost employers money? Glad you asked.
Presenteeism is lost productivity that happens when an employee is present at work but not fully able to function due to fatigue, illness, injury, poor mental health, or lack of sleep. Absenteeism is when employees are absent due to illness. This lost productivity is harder to quantify which leads it to be under the radar when making future business decisions.
Recent studies have shown that the UK economy loses up to £92 billion due to ill-health related absenteeism and presenteeism. The same study also found that British businesses lose an average of 38 working days per employee to physical and mental health related absence and presenteeism in 2019. However it was only 23 working days per employee 7 years ago, showing that productivity is on the decline. In one US study, presenteeism and absenteeism cost US employers up to $2,280 per employee annually.
So what can we do to resolve this issue?
Invest in employee wellbeing! A 2016 study has shown that 1 in 3 adults don't get enough sleep. Lack of quality sleep can cause many issues such as fatigue, less productivity, decreased mood, lack of awareness, more prone to make mistakes, the list goes on. Simply investing in employee wellbeing such as sleep pods for employees to nap during work has proven to work wonders. A NASA study showed that napping can increase work memory. Napping during work can increase productivity, lessen work fatigue, increase creativity, alertness, happiness, and reduce the likelihood of making mistakes due to lack of sleep.
In another study, investing £1 in employee mental health can save employers £5 due to reduction in absenteeism and presenteeism and staff turnover. Many big companies such as Google, Facebook, and Uber invest in nap pods or nap rooms because they understand the importance of happy, healthy, and productive employees are crucial parts of any business.
RestSpace is here to help!
At Restspace we believe that employees are the backbone of any business and we offer products that allow them to be the best version of themselves. We provide private, smart, and comfortable sleep pods. We are here to provide you with the product that can help your business become more productive, save cost due to lack of sleep and increase employee wellbeing one nap at a time.
Contact us to get more information about RestSpace and our product. We are more than happy to help with any questions you may have!