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So all organisations have absence but what is the real cost?

I am currently looking a the real cost of absence within my organisation and would really appreciate your thoughts. From analysis I have identified that on average absence is costing us £110 per day per absent employee. These costs are only the financial element and I am trying to source real life examples of how absence impacts employee engagment and also the cost of management time.

Has anyone used these type of costs in a tribunal bundle? If yes did it have an impact and if no, what was the reason