Absenteeism and its financial implications
Abstract
Absenteeism, defined as a pattern of absence from a duty or obligation, is a widespread phenomenon. The paper presents various definitions used in common and academic parlance. The paper also delves into the causes and consequences of this phenomenon with the financial aspect this phenomenon described in detail. Paradoxically, published literature also indicates certain benefits derived from the employee absenteeism, which has been briefly pointed out in this paper. Several absenteeism costing models have been conceived which describe the financial burden of absenteeism. This article describes various costing models of absenteeism while discussing the “individual behavioral model” in greater detail. The model has with a practical approach to measuring the cost of absenteeism.
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