How CorVel and ReedGroup’s Integrated Disability Management Program Is Changing the Absence Management Game
Employees out of work due to illness or injury are facing more than just doctor visits and time off. They are entering into an unfamiliar process about which they may have a limited understanding. Concepts like workers’ compensation, short-term disability management and leaves become their new reality.
For employers, employees are their biggest assets. Having an employee out on leave due to injury or illness is costly, not just in replacement costs to fill their open position, but also the cost of care and recovery.
“Studies have shown that employers can spend anywhere between two to five times the amount of replacement salary in additional costs,” said Diane Blaha, CMO, CorVel. According to the Spring Consulting 2018 Integrated Employer Survey, employers that integrate WC, STD and FMLA have a higher propensity to achieve savings in terms of reduced lost time and decreased claim incidence, compared to employers that do not integrate WC into their leave management program.
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