Poor workforce health accounts for more than a quarter reduction in productivity while presenteeism costs businesses three times more than sickness absence, Legal & General has found.
The provider said that conservatively this could cost a business of 600 staff £2m per year. L&G also revealed that the implementation of its programme produced a return on investment of £2.47 for every £1 spent. It undertook a pilot project to improve the health and wellbeing of its staff and to understand the cost of poor employee health, including presenteeism, on the business. Results from the two offices in Cardiff and Hove using the Health Manager system found that the impact of sub optimal employee health led to a 14% loss in productivity. However, it also exposed the prod...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
