On any given day as much as 10% of your workforce may be absent. Chances are, you have the historical data available to leverage your company’s productivity. Much of that data, however may be stored and tracked in different areas in order to adhere to reporting and compliance regulations. Without a method of consolidating this data, your company can’t turn this information into an effective absence management strategy.
Many companies have FMLA spreadsheets, methods of hourly time tracking, and vacation databases. This data can help you to find current gaps in your absence management plan and create actionable information that will make your company more productive. Finding a method to consolidate historical data will help you to:
- Understand the leading types of absences
- Average duration of each absence type
- Determine if there are specific site or division challenges
- Create projections for occupational classes/employee segments for business units
- Know when employees have exhausted their leave entitlement
- Approve, deny or close employee benefit claims
- Know your company’s ROI for specific absence management procedure enhancements
Reporting and compliance complexities often hinder a company’s efforts to create an effective absence management strategy. While some absence information may need to be tracked separately as a part of compliance, the company can still leverage this historical data in order to determine future trends.
Data management is an essential part of effective absence management. It will also help you determine what absence management tools your company needs to make your organization more productive. There are many Human Resource Information System, Disability and Workers Compensation vendors that can help your company consolidate your historical absence data so that you can turn it into actionable information.
Contact the experts at Actec to learn more about our proprietary software that will help you in your goal to create an effective absence management solution.