Report: Sick Pay Helps Companies

From the Bergen Record, April 27, 2016:

Paid sick time doesn’t just help workers, it also helps employers by boosting productivity and cutting employee turnover, the New Jersey Policy Perspective organization said in a report released Wednesday.

According to the report from the progressive group, paid sick leave would cost New Jersey businesses about $957 million for the estimated 1.25 million Garden State workers who don’t currently have that benefit. But employers would save even more in greater productivity and lower employee turnover costs, adding up to a net savings of $104.3 million, according to the report from analyst Brandon McKoy.

The report was based on research into several cities’ experience with requiring paid sick leave, as well as into other studies of the costs of employee turnover and sickness at work. McKoy said that in cities that have required paid sick time, such as San Francisco and Seattle, the mandate didn’t hurt job creation and the economy.