What does absenteeism insurance cost?
Although absenteeism insurance is not required by law, it is often wise to take out one. Suppose one of your employees falls ill. You will then have to deal with a lot of costs, such as the continued payment of wages for two years, costs for replacement staff, absence guidance and reintegration. All in all, these costs can mount up considerably. With an absenteeism insurance, you are covered for this. But what are the costs of a sick leave insurance? On Diks.nl we list the costs of our absenteeism insurance for you.
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Cost of absenteeism insurance per year
Every company is different. That is why the premium for absenteeism insurance differs per organisation. Each year, the premium is reviewed. We look at whether the company data has changed and whether there have been personnel changes, as a result of which the age distribution has changed. In addition, the ratio between how much has been paid out in the past year and how much premium has been paid is looked at. They also look at the absenteeism rate over the past three years and at the premium. Certain structural changes in a sector can sometimes lead to an adjustment.
Sick employee costs
Did you know that many organisations do not know how much a long-term sick employee costs? This is in fact one and a half times as much as most people think. If your employee is sick, you have to deal with different cost items. The biggest cost is the continued payment of wages. As an employer, you are obliged to continue paying the salary of your employee for two years in the event of illness. This is also referred to as the wage payment obligation. Legally, an employee receives at least 70% of his/her gross salary. If your company has signed a CAO, this may differ. Many CLA's stipulate that the sick employee receives 100% of the gross salary in thefirst year and 70% in thesecond year.
In addition to the obligation to pay wages, you will be faced with a number of other costs, such as costs for absence counselling, replacement staff, costs because you may lose sales and costs when the employee is reintegrated. The Central Planning Bureau has made an example of the costs per day for a sick employee. This is based on an average annual income in the Netherlands of €36,500.
|Cost per day|
|Continued payment of wages||€153|
|Cost of replacement staff||€146|
|Loss of production||€43|
|Occupational health and safety service costs||€60|
|Leave of absence||€7,50|
Request a quote directly from Diks Insurances
On Diks.nl you can easily request a quote for absence insurance. For this we only require some information about your company and your employees. Do you have any questions? Then you can contact us. You can reach us by phone at 088 - 688 37 12.
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