CALCULATE YOUR EMPLOYEE WELLBEING SCORE

• Improving Productivity and Performance: Employees who feel well and supported are more likely to be productive and perform at their best. Wellbeing directly impacts engagement and motivation, leading to higher efficiency and better output.

• Reducing Absenteeism and Turnover: High levels of employee wellbeing are associated with lower absenteeism and turnover rates. When employees are healthy and satisfied, they are less likely to take sick leave or leave the company, which saves costs associated with recruitment and training new staff.

• Enhancing Employee Engagement: Measuring wellbeing helps identify areas where employees might be struggling. Addressing these issues can lead to higher levels of engagement, where employees feel more connected and committed to their work and the organization.

• Creating a Positive Work Environment: Understanding employee wellbeing helps in creating a work environment that supports physical, mental, and emotional health. This fosters a positive company culture, which can attract and retain top talent.

• Compliance and Risk Management: Some industries have regulatory requirements regarding employee health and safety. Regularly assessing wellbeing can help ensure compliance with these regulations and mitigate risks related to workplace health issues.

• Strategic Decision Making: Wellbeing data provides valuable insights for leadership to make informed decisions about policies, benefits, and programs that support employee health. This data-driven approach helps in allocating resources effectively and planning for future needs.

• Building Reputation and Employer Branding: Companies known for prioritizing employee wellbeing often enjoy a better reputation and can attract high-quality candidates. A strong focus on wellbeing can differentiate a company as an employer of choice in competitive job markets.

• Boosting Innovation and Creativity: A healthy and happy workforce is more likely to be creative and innovative. When employees feel well, they are more inclined to think outside the box and contribute to the company’s growth and success.

By calculating and actively managing employee wellbeing, organisations can create a supportive, productive, and thriving workplace that benefits both employees and the company as a whole.

• Absence Rate Calculation: 
• Absence Rate = (Total Number of Days Absent / Total Number of Available Work Days) × 100 

• Data Collection: Use HR systems to track the number of days employees are absent. Ensure to categorize the reasons for absence (e.g., sickness, personal leave).

• Self-Reported Measures: Use surveys and self-assessment tools where employees can report their perceived productivity levels. Common tools include the Work Productivity and Activity Impairment (WPAI) questionnaire.
• Output-Based Measures: Compare actual output against expected output. For example, measure sales, completed projects, or other performance indicators against targets.

• Direct Costs: Include salary and benefits paid to absent employees.
• Indirect Costs: Factor in costs related to temporary replacements, overtime for other employees, and lost productivity.
• Calculation Example:Cost of Absenteeism=(Average Daily Salary×Number of Days Absent)+Indirect CostsCost of Absenteeism=(Average Daily Salary×Number of Days Absent)+Indirect Costs

• Definition: Presenteeism occurs when employees are at work but are not fully productive due to illness or other issues.
• Measurement: Use tools like the Stanford Presenteeism Scale (SPS-6) to gauge the extent of presenteeism.
• Impact Assessment: Estimate the reduction in productivity due to presenteeism and convert it into a financial cost.

• Interventions: Based on the findings, implement targeted interventions such as wellness programs, flexible working conditions, and mental health support.
• Continuous Monitoring: Regularly track and review absenteeism and productivity data to assess the effectiveness of interventions and make adjustments as necessary.

By systematically calculating and addressing employee losses of productivity and sickness absence, organizations can enhance their overall efficiency, improve employee wellbeing, and achieve better financial performance.