Using absence management software is becoming the norm
According to a recent study by the Brandon Hall Group regarding Human Capital Management (HCM) technology trends, 36% of companies are currently using bespoke absence management software. The rest of the respondents to the study either had a system automated as part of a suite or ERP solution, outsourced the work or did it manually (only 14%).
It is good to see that the majority of companies are starting to see the benefits of absence management software since absence is a major costs to the business. It is better still to see that out of all the options available, more than 50% of those who use a software solution chose what they considered a ‘best of breed’ standalone absence management software as opposed to using whatever came bundled with a generic HR package. The benefit of a purpose built absence management application is that it will drive not only data collection but also better management actions. This is quite an key differentiator given that data is of little value without any action.
The CIPD puts the average UK absence level at 2.7%. This equates to an estimated total cost of £29bn a year according to PWC. With this in mind it is surprising that there is not a much higher rate of investment in reducing absence. It is positive to see that more and more companies are seeing the value in implementing a fit for purpose absence management process. However, many organisations are still slow to jump on the band wagon, as is obvious from Brandon Hall Group’s statistics. If you need convincing of the benefits of absence management, try our absence cost calculator to see just how much absence is costing your business. The savings that can be reaped are substantial.
If you’re already convinced and would like to join the ranks of companies that have started proactive action to reduce absence, why not try Honeydew Engage absence management software today? The first month is free!