Tracking absences accurately both in type and duration stands as a cornerstone of shrink reduction and cost management for nearly all medium and large businesses. Yet so many businesses dedicate little or no resources to this process. As a result, millions of hours of waste and fraud occur each year in the United States. Though absence management programs can run in-house, the high costs associated with employing and training such a team can defeat the purpose of cost-saving and shrink management for which absence management was created.
Outsourcing a corporate absence management program allows a company to minimize complexity, reduce shrink, and optimize the bottom line. Dedicated absence management software and specialists can efficiently and accurately track the wide variety of absences associated with modern business, and even find ways to improve and incentivize more effective absence policies. To learn more about absence management and your business, contact us.