How is implementing a paid sick day standard beneficial to business?
Cost Reduction: Workers who come in sick cost our national economy $180 billion annually in lost productivity. For employers, this costs an average of $255 per employee per year – exceeding the cost of absenteeism and medical disability benefits. According to analysis by Vicky Lovell PhD, a researcher for the Institute for Women’s Policy Research, paid sick days in Vermont can actually save employers money. In 2008, it was estimated to cost Vermont employers $6.10 per worker per week to provide paid sick days. However, Lovell also found by reducing costs associated with presenteeism and turnover implementing paid sick days would actually save Vermont employers $8.55 per worker every week. This saves employers $2.45 per worker per week, equating to an annual savings of up to $127 per employee. Public Health: When employers don’t provide paid sick days it results in more cases of what is known as “presenteeism”—a situation whereby employees arriving to work despite being ill. Presenteeis
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