Significant factors that contributed to the rise included minor illnesses — the main cause of short-term absence — while musculoskeletal injuries, acute medical conditions, and mental ill-health influenced long-term absence. 

The report found that circa 76% of respondents cited some stress-related absence, alluding to heavy workloads and management style as the main causes.

Covid-19 was the fourth biggest contributor to short-term illness, with half of those surveyed reporting their organisation had employees who had experienced long Covid over the past year.

Consequently, the CIPD has called on organisations to have accommodating and open work cultures, as well as flexible working options and health services.

B&C asked members of the specialist finance industry whether they had seen a similar rise in sick leave, and if this was impacting the market.

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Chris Gardner, joint CEO at Atelier, commented: “This is not a trend I’ve recognised in our business,  however these results demonstrate that many workplaces are still reverberating with the after-effects of the pandemic — people’s evolving relationship with work is at the heart of this. 

“Great managers need to listen to their team to provide effective leadership; if somebody is unwell, the last thing they want is a difficult work environment.”

Anna Lewis, commercial director of lending at Castle Trust Bank, added: “The increase in sickness absence is concerning from a service, cost, and efficiency basis for our industry as a whole, as well as from a colleague welfare basis. 

“The fact that 39% of short-term illness and 63% of long-term illness is related to mental ill-health is of particular concern.

“We offer a comprehensive wellbeing programme for our colleagues, which includes our Mental Health First Aider team, and this is supplemented by an external, independent employee assistance programme to help ensure that colleagues have help available to them 24/7 if they might need it.”