Employers have been hit hard by COVID in more ways than one, and now, hidden financial costs are adding up to have an overwhelming impact on businesses. New research from the Integrated Benefits Institute has found that, on average, pandemic-related absenteeism is creating $1 billion in employer losses each week.
Over the past 22 months, the pandemic has cost employers more than $78.4 billion, according to the nonprofit research firm. That’s more than a $25 billion increase since IBI last analyzed the financial impact of COVID on employers, back in April of 2021.
