On 11 June, the men’s football World Cup will begin and so too will many office sweepstakes.
As football fever settles into the office, there is a risk that the lively spirits will be propped up on the back of additional sick days.
This may negatively impact your finances, so it is worth understanding what you should do now to prepare.
The 2022 World Cup saw a sharp spike in sick days and there is a growing concern that it may be worse this year.
48 teams will be playing in 104 matches, a significant jump from the 32 teams that played in 64 matches in the previous event.
This means plenty more opportunities for people to overindulge or stay up too late watching matches.
The exact impact on sick days is yet to be seen, with estimates ranging from the event adding 650,000 more sick days, while others believe the figure to be closer to 3.6 million.
Whether it is from feeling ill due to excessive drinking or a lack of sleep, or whether employees skip work to watch matches, employers need to brace for a sudden shortfall of staff numbers.
Late arrivals and poor performances can also be expected at this time, resulting in a combined negative impact that could see your finances suffer.
It is also worth considering the HR and health and safety risks posed by people neglecting to fulfil their duties or attempting to work while tired and hungover.
The World Cup should be a fun time, so it is worth making considerations now to ensure that it is not overly stressful.
One important consideration concerns the recent changes to Statutory Sick Pay (SSP) and how this may create more absences than before.
It is now possible to claim SSP from the first day of sickness, meaning employees may be more likely to stay home if they feel tired or unwell rather than braving the work environment.
Your payroll system needs to be ready to handle sudden SSP claims and should be able to do so in greater numbers.
Seeking professional financial support may make a major difference during the World Cup.
We can help you determine the impact that the increase in sick days may have on your finances, allowing you to budget for the downturn in productivity.
We can also keep you payroll compliant so that there are no additional stresses when handling SSP claims.
If your business stands to benefit from the World Cup, we can also help you make the most of any added revenue with clear financial forecasting.
Knowing how to approach the World Cup from a business perspective is vital for keeping the flame of football fever burning.
For support in keeping the World Cup positive for your business, speak to our team today.
