You may not have missed it in the media. In the first quarter of 2023, the absenteeism figures rose to the highest percentage ever, according to Statistics Australia. Premium increases on sick leave insurance are inevitable in 2023. Absenteeism in health and welfare care is at the top with 8.9%. Particularly in home care, care and nursing, absenteeism was above average with a percentage of 10.4% in the first quarter. The other leader compared to other industries is the hospitality sector with 6%.
upcover is Australia's award winning business insurance provider for small business owners, startups, consultants, freelancers and gig economy workers
Increases
Compared to the fourth quarter of 2021, a significant increase in absenteeism figures can be observed. You will understand that relatively smaller companies are vulnerable when absenteeism is high or increasing. Although absenteeism is the lowest in these companies, an increase can still be observed. The same applies to medium-sized companies with 10-100 employees. The figures are below the national average of 5.4%, but there is certainly an increase within this group as well!
What is the cause of the rise in absenteeism rates?
The top 5 causes of absenteeism include physical and physiological disorders, psychological complaints, corona and private circumstances. Work pressure and stress are mentioned in 35% of the cases. Physically heavy work also guarantees a percentage of more than 15%. Think, for example, of construction and the catering industry; physically hard work! Fortunately, during the year there is usually also a decline in the figures mentioned in previous quarters. Absenteeism figures are generally lowest in the third quarter.
What do we know about absenteeism due to illness?
A few facts in a row: did you know that the average duration of absence is 8 days? . Employees do not call in sick more often, but the average duration of absence is increasing. It is therefore certain that this also has consequences for the amount of the premium of an absenteeism insurance policy: the premiums are going up!
As already mentioned, small, but also larger companies can run into major problems when the absenteeism figures continue to rise. With absenteeism insurance in combination with occupational health and safety services, you are assured of continued payment of wages for your sick employee. You can take out separate sick leave insurance or choose to take out an SME absenteeism care insurance policy that includes the working conditions service.
Upcover is a comparison site for absenteeism insurance and includes every insurer that offers absenteeism insurance. With our comparison you can reduce the costs of absenteeism within your company. You make your company stronger through a targeted approach to absenteeism and optimization of reintegration.
Request a quote for absenteeism insurance
As of January 2023, many sickness absence insurance policies will be extended. These will then be continued for a new insurance year. Sick leave insurers will then come up with a new and therefore increased premium proposal. You will receive this proposal from November 2023. At that time you can engage us. You can then switch from 1 January 2023. Let us make a comparison for your sickness absence insurance without obligation. Of course you can now also contact us for a new contract
0
Sign in to leave a comment.