The e-days blog

How Much Could Your Business Save With e-days?

Authorby 23 February, 2015

 

Your organisation may have not considered the impact that absence and any related administration has on business spend. Using manual processes such as spreadsheets and paper forms can mean that these costs are significantly higher compared to a specifically designed absence management system.

The e-days savings calculator has been designed to provide a quick, comprehensive view of how much you could save yearly by switching from your manual system to e-days. In order for you to gain a better understanding of exactly where these cost savings lie, we have provided a breakdown of the three key savings factors when switching your system

1. Absence Cost Savings

Over the years we have conducted a series of client surveys. Results from these surveys have shown that customers on average experience a 24% reduction in unplanned employee absence when using e-days compared to a manual process.

The cost of absence is calculated using findings from the 2014 annual report by the CIPD (Chartered Institute for Professional Development). For 2014, the cost of absence was reported at £609 per employee. By combining this figure with the amount of staff in your organisation, you can calculate an estimate of how much absence is costing you annually.

Based on this outcome, the total absence cost savings delivered through e-days is 24% of your organisation’s overall cost of absence.

2. Administration Cost Savings

Using the same client surveys, we were able to determine that on average e-days can help save employees 5 minutes in admin time each week compared to a manual absence process.

To calculate admin time in costs, we have used the average UK salary of £26,500 (Office of National Statistics) and a standard working week of 37.5 hours. By applying this average salary to the number of staff in your organisation we can work out how much money e-days can save by reducing this administration time.

 3. e-days Cost Structure

e-days is paid per user license on an annual basis. Depending on how many staff are within your organisation, the license cost of e-days will vary and will be less per license the more staff you have. There is also a one-off set-up fee when you first purchase your e-days system which will also vary depending on your organisations size.

Your savings with e-days

To put all of this into perspective, an organisation of 100 staff can save an estimated £18,700 by switching from a manual absence management system to e-days.

You can generate a full breakdown of the above cost savings for your organisation by entering number of staff into the savings calculator and downloading your personalised report.

 To find out more information about e-days price plans, contact a member of our sales team.

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