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U.S. markets recover from steep losses
CHICAGO, Nov. 27 (UPI) -- A Chicago consulting firm says U.S. employers should be on the lookout for more common strains of influenza, which can severely damage the bottom line.
This flu season could cost employers nationwide nearly $10 billion just in lost wages related to paid sick leave, Challenger, Gray & Christmas Inc. said Monday in a news release.
The firm's estimate was based on government health statistics showing 15 million to 60 million Americans get the flu each year, resulting in as many as 70 million missed work days. With median weekly earnings of $675 for all wage and salary workers, paid sick leave costs an employer $135 per day per worker. Challenger multiplied the $135 by the 70 million missed work days for a total of $9.45 billion in lost wages.
"This estimate does not even account for decreased productivity, interruptions in customer service, lost sales, missed deadlines or the cost of hiring temporary workers," said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.
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