As part of the ongoing work of the Global Initiative on Health and the Economy, the U.S. Chamber of Commerce today released a new study, “Health and the Economy: The Impact of Wellness on Workforce Productivity in Global Markets,” which estimates the economic cost of productivity losses due to ill health around the world.
The report is the first of its kind to examine productivity losses that arise from absenteeism, presenteeism, and early retirement. It finds that, in developed and developing economies alike, economic costs related to lost productivity are high and projected to increase, threatening to impose heavy burdens on businesses, governments, and individuals now and in the coming years.
“This report is a wake-up call. It shows that the costs related to lost productivity due to ill health are significant and rising,” said Myron Brilliant, executive vice president and head of International Affairs for the U.S. Chamber of Commerce. “If we want to succeed in combating the real challenges posed by modern disease, governments, civil societies, and businesses across the globe must integrate their expertise and resources in support of health and wellness.
“The Chamber’s Global Initiative on Health and the Economy champions the role of the employer in establishing healthy habits and advocates for access to innovative and efficient healthcare products and services,” said Brilliant. “We all must work together toward improving the health of the working age population and mitigating the lost growth many economies face as a result of health-related challenges.”
To read the full report, please click here.