|
|
 |
Sanlam warns of HIV/AIDS economic time bomb
23 June 2004. IRIN PlusNews. Republished courtesy of IRIN PlusNews Service.
|
The HIV/AIDS pandemic is an economic time bomb that poses a major threat to the profitability of companies in South Africa, the country's second largest financial services group, Sanlam, has warned.
The warning was based on the findings of the group's national biennial survey of retirement benefits.
Danie van Zyl, Sanlam's employee benefits actuary, said the research showed that companies were increasingly becoming aware of the alarmingly high cost of the disease.
"Although the financial consequences for employers are the less visible impact of the HIV/AIDS pandemic, these can be measured in lost productivity, absenteeism, recruitment, and the cost of training replacements that have to take the place of staff lost as a result of the disease," Van Zyl said in a statement. "Some health management consultants estimate this cost to be as high as 5 percent of salary in some cases."
This item is delivered to the English Service of the United Nations' Humanitarian Information Unit but, may not necessarily reflect the views of the UN |
| Was this article helpful to you? |
 ?67%???? ?33%
|
|
Back
|
|
|
|
