Katherine Barker, Head of Momentum FundsAtWork.
South African companies, reeling from the rising cost of absenteeism on employee productivity, will be shocked to discover that presenteeism actually costs them much more. New research by Momentum Corporate shows that presenteeism, the phenomenon when employees are at work but not being productive because they are distracted, could be costing South African businesses a staggering R89 billion, or 5% of Gross Operating Profits (GOP). This figure based on the total Gross Operating Profits published in Stats SA’s Gross Domestic Product release for Q4 2017, combined with absenteeism losses, results in a total cost of a R122 billion or 6.5% of GOP. (more…)
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