A new tool was developed to calculate the financial impact respiratory illness has on businesses.
The interactive tool developed by Pfizer, in partnership with think-tank Office of Health Economics (OHE), offers tailored estimates of productivity costs associated with employee absences and presenteeism due to short-term respiratory infection.
This follows two organisations publishing a research in the early part of this year which suggested that such respiratory illnesses could cost employers up to PS44bn per year or equivalently PS852 for each employee.
Pfizer, the OHE and others argued that presenteeism, or working when sick, and therefore with a lower productivity, is not quantified by companies.
Presenteeism due to respiratory illness and infection costs businesses more, accounting for 54% of total costs. The overall impact on a business can be twice as high as some employers estimate, if they base their estimates solely on absenteeism.
The data also showed that the acute respiratory infection was one of the main reasons for admission and attendance at A&E departments.
The tool uses benchmark data provided by YouGov and Office for National Statistics cost data, as well employer-provided data.
Users can enter their number of employees and industry to get a customized estimate. They can also add other optional information, such as absenteeism, presenteeism, temporary absence coverage, average salary, sick pay, etc. The tool will make assumptions and use industry averages if users don’t have these data.
The tool calculates the estimated total annual cost for respiratory infections in the company, and then breaks it down into absenteeism versus presenteeism.
Pfizer, along with the OHE, have suggested that such information could help plan for business continuity in light of this productivity challenge.
Emma Clifton Brown, Pfizer UK’s head of access and value, said: “Respiratory infection is a cause of lost productivity that is often overlooked and has a variety of impacts on different business sectors.”
This free interactive tool helps employers understand the potential costs of such illnesses and raises awareness for companies to explore and implement preventative measures that could reduce them, including improved hygiene and workplace vaccination programmes, and avoiding contact people with symptoms.
The OHE site has the tool.
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