Bulletin

Sick days cost UK businesses £4.2bn

Office - Sick employees cost £4.17bn each year - SantanderCB

The Centre for Economics and Business Research revealed yesterday that sick employees who take more than six months off work cost the UK private sector £4.17bn each year. The cost to businesses has risen from £3.13bn in 2012, due largely to an 8% rise in statutory sick pay, CEBR explained. But around a quarter of the cost is due to absence caused by mental illness. In the past year, 70m days were taken off as a result of stress, anxiety or depression, the research centre said. The proportion of people taking time off for mild to moderate mental health issues rose from 26% to 38% from 2011-2013. Earlier this month, the Chartered Institute of Personnel and Development revealed that firms where staff take no time off are over twice as likely to report stress-related absences as those where staff just take one day off. With rising numbers of older workers, CEBR estimated that the annual cost to the private sector will rise 15% in the next 15 years, reaching £4.8bn by 2030.

 

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