But we do know some of the costs to business that researchers have already been able to track:

• The Integrated Benefits Institute found that spending for absent workers due to COVID-19 was estimated to total $50.5 billion, a 117% increase from a previous analysis the year before.
• Gartner found that COVID has forced most HR departments into cost-cutting: 49% of respondents had implemented hiring freezes, and 41% were trying to use technology more efficiently.
• According to Dun & Bradstreet, over 82% of small businesses experienced a negative impact and 70% think it will take them almost a year to recover the demand levels of before COVID-19.

The rising need for COVID-19 tracking

That first figure is of particular importance to organizations.  The costs of COVID-19 in terms of healthcare outlays, absenteeism, and productivity damage can mount up rapidly.

So it’s essential that HR managers find a method or tool for easily capturing information about the health status and COVID-19 risk level of  employees, including tracking their vaccination and testing status.  If an employer dictates mandatory vaccinations (as more and more are) or encourages them by having a regular testing program, this solution ought to embrace those parameters.

And capturing better insight and information means resources can be more accurately deployed, which can reduce their potential cost.