The Absence Cost Estimator helps you quickly understand the potential magnitude of absence in your company and its total costs—both wage replacement and lost productivity—based on peer-reviewed research.
Users can generate estimates of total costs of absence and presenteeism by industry and size. You can also customize results by payroll and benefits policies.
ACE applications combine information from Dr. Sean Nicholson’s 2006 Health Economics paper and estimates from IBI’s proprietary Full Cost Estimator (FCE) with user input values or default values to develop a customized absence multiplier along with estimated absence lost-productivity and wage-replacement costs.
In 2009, IBI worked with Dr. Sean Nicholson on the original Lost Productivity Calculators (LPCs) to allow IBI members to develop customized absence multipliers quickly and simply. The study featured in the 2006 Health Economics paper developed absence multipliers for 35 different occupations3 . All three original LPCs — company-wide, occupation-specific and claimant group — rely on the analysis from the 2006 Health Economics paper. ACE represents the next generation of these calculators, combining the original multiplier methodology with state-of-the-art absence and wage-replacement estimates from IBI’s Full Cost Estimator. This document will review the 2006 Nicholson study on which modeled multipliers are based, outline Full Cost Estimator methodology and estimates incorporated into the new model and present a process flow of how default and/or user inputs are used to generate absence cost estimates.
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All IBI Members have free access to ACE. Check out the sample report in the table below and begin generating your own.
|REPORT||WHAT IT ESTIMATES||HOW TO USE IT|
|Absence Cost Estimator
||Simply provide your industry and the number of employees at your organization. You also have the option of specifying the % of full time workers (don’t worry if you don’t know—an estimate based on your industry will be used)|
The Absence Cost Estimator Tool
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