The cost of holidays and the benefits of online absence management

Did you know that an average of one out of 32 employees are absent for four or more weeks a year? From afar, this doesn’t sound like anything to be concerned about. But, if you look closely at the financial implications, the estimated cost of this absence can stretch just over £10,000 a year for a business of ten employees.

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Without the right online absence management to track who’s where and why, your business could be facing a minefield of costs. And, let’s be honest, couldn’t you put that money to better use?

Here are four benefits of online absence management and why you should be using software, not paper.

1. Records and trackable data

Keeping a paper-only trail of employee absences can cause a multitude of problems for your HR department. Without a consistent method for tracking time off, files can consequently become lost or hard to analyse.

Online absence management software keeps your important data all in one simple, trackable place. So, instead of rifling through stacks of paper, you can find out who is absent and why in seconds.

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2. Employee wellbeing

Stress is the number one cause of long term absence in the workplace and, after minor illnesses, the second biggest cause of short term absence. What’s more, one third of businesses who claim stress is in their top five causes of employee absence are taking no, or very few, steps to remedy the situation.

It’s unrealistic to assume that your employees won’t ever face difficult situations while working for you. Online absence management allows you to keep track of long term absences, patterns in employee behaviour and instances of absenteeism. This, in turn, can help you to seek help for employees who are struggling with illness, mental health diagnoses or personal issues.

3. Cost savings

How much do you spend on buying, printing and copying paper a year? Around half of small businesses have no idea how much money they spend on printing alone. Realistically, if you’re still using paper, you’re probably spending far more than you’d like to.

Harnessing online software can save you the cost of printing, copying and managing physical paperwork. This can ultimately save you a significant stack of cash a year.

4. Quick self-service

Unlike paper-based absence management, online software is quicker and simpler. It can give your employees the freedom to request time off when it’s suitable for them.

Additionally, both employees and managers alike can view their own time off allowances and calendars without having to open another application. As a result, this can help your business to plan in advance and stay efficient throughout employee holidays.

Trust online absence management

If you’re fed up of the cost of untracked holidays or the unreliability of paper, it may be time to put your trust in HR software. Online absence management can cut costs, keep your business running efficiently and, most importantly, give your employees and HR department a simple way to request and track time off.

So, try giving some trees a break by ditching the paper. Take a free trial of our absence management software today and see what it can do for your business.

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