Absence Management Systems Save Companies Money According to Recent Study
OCI provides companies data integration and software services that assist with risk management. A recent scientific study by OCI shows how businesses can save millions of dollars per year by utilizing an absence management system. OCI studied a group over a period of time, keeping track of results when the employer did not have any absence management program, when they did have one, and when they utilized an automated absence management program.
The study focused on the impact that an automated and integrated absence management system has on employee absences overall. The variable of the study was how many total days were lost per leave and the independent variable, or control group, was a reference population. The results from the study showed that the company saved over $8 million due to having an absence management system in place because it limited time lost.
According to the President of OCI, Archie Anderson, “Implementing an organized method to ensure that employees are healthy, at work, and productive is not recent news. However, understanding the relationships between benefits, and ways to reduce lost time, is not easy. At OCI, we understand the importance of capturing the necessary data to uncover absence trends and utilize this information to improve absence programs. We tested the methodology, measurement and management that a company chooses to manage their employee absence to best understand the financial impact of our data-driven approach.”
To read the entire corporate study and results, visit http://www.oci.com/oci_leavexpert.