According to Statistics South Africa, absenteeism costs the local economy some R16-billion per annum while the cost of presenteeism is more difficult to quantify.
Researchers at the Victoria Institute of Strategic Economic Studies have further estimated that the growing toll of lost productivity resulting from absenteeism and presenteeism could shave as much as 7% of South Africa’s total GDP by 2030.
According to Arnoux Maré, Managing Director of Innovative Staffing Solutions, companies are facing a significant rise in absenteeism and presenteeism as employees buckle under the pressure of a difficult economic environment and growing financial strain.
He joins us now on Zoom to tell us more.
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