Canada Life is launching a new Absence Management Programme following the knowledge that absenteeism costs UK businesses around £12.2bn a year.
The scheme, offered as an extension of the group income protection scheme already held with Canada Life or to new business clients as an optional element of a new group IP scheme.
It is designed to allow companies to monitor and manage employee absence through a combination of organisational support and early intervention.
Canada Life believes the programme will help employers to lower rates of sickness absence and litigation risks and can be adapted to work alongside a firm’s existing health management process.
Canada Life group insurance division managing director Ian McMullan says: “Many organisations struggle to keep track of employee absenteeism and to take the correct action when a problem is finally identified and we believe our AMP will help organisations deal effectively with this problem.”