Reduce the “Hidden” Costs of Absence and Boost Productivity.
It seems like everyone is stressed these days. Workers are losing sleep over finances. Record numbers are calling in sick. Mental health rates are skyrocketing. And company leaders are worried about rising benefits costs and the impact of possible cutbacks from provinces and territories. All of this points to caution ahead unless organizations decelerate the rise of two leading obstacles to growth — absenteeism and disability.
Benefit Costs Building
Average percentage of payroll costs:
- 2012: 3%-4%
- 2017: 5%-7%
- 2022: 15%-25%
WATCH OUT FOR CRACKS IN THE FOUNDATION
- Costs employers $16.6 billion annually3
- Keeps 500,000 workers away from work each week due to mental health issues4
- Affects 72% of all employees, who want their employers to help5
- In their job has caused one in four workers to leave their employer.6
- Strikes one in five Canadians due to a psychological health problem or illness in any given year7
- Due to psychological health problems — the number one cause of disability — costs the economy $20 billion per year.5
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Sources : 1. 2012, 2017 Mercer Financial Database, 2. 2022 The Future of Healthcare prediction; 3. 2013 Conference Board of Canada; 4. 2013 Mental Health Commission of Canada; 5. Scand, J. Work Environ Health 2016; 6. Monster Canada work survey, 2017; 7. 2016 Mental Health Commission of Canada; 8. International Foundation of Employee Benefit Plans Workplace Wellness 2017 Survey Report.