Unlocking Hidden Value Through Absence Management Strategies
The Johnsons own a small, but thriving marketing agency. They suspect employee absenteeism is affecting their bottom line, but they lack the data and framework to quantify the impact. With college looming for their oldest child and retirement on the horizon, they need to maximize their business's profitability to stay on track with their financial goals.
Using the Bradford Factor Calculator, the advisor input the absence records of the Johnsons' employees. The calculator revealed a surprisingly high Bradford Factor score for one particular employee, indicating frequent, short-term absences. Addressing this absenteeism could potentially increase productivity by 5%, translating to an estimated $22,500 increase in annual revenue.
The advisor used readily available employee absence data and inputted it into the Bradford Factor Calculator to generate a score. This score was then used to initiate discussions with the Johnsons about potential solutions, such as improved employee wellness programs or attendance incentives.
$22,500 increase in potential annual revenue by addressing employee absenteeism.
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