Communication is key and a new study suggests that it could have a positive effect on absence management. It showed that bad communication regarding employee provisions could cost British companies up to £2.7 billion a year (City of London University).
The study suggests that workers who are unaware of company benefits are less productive and in turn more likely to call in sick or quit their job. This can cost the average firm £470,000 a year. The cost was calculated by looking at the average spend on recruitment and training new employees.
Two Thirds of companies that were questioned invested heavily in staff benefits but failed to adequately inform workers of these packages. This effectively means that companies who invested in benefits were no better off than those who hadn’t.
Benefit packages are generally used to increase staff moral and loyalty and this is seen as a ‘vital issue’ against the backdrop of difficult economic conditions for businesses.
With the recent stat that 58% of UK workers were proud to be with their current organisation one has to question if this figure could be increased with effective communication?