Inefficient contact tracing cost UK businesses more than £11bn new research shows
84% of large businesses and organisations in the UK have lost working days due to a lack of effective contact tracing, according to a new study commissioned by Contact Harald.
The resulting lost productivity is estimated to have cost the country’s economy over £11bn in the last 12 months, equivalent to 4.3 million working days.
The study, which looked at 500 UK companies employing over 100 staff, found an average cost of £660,193 per business due to absent workers isolating and waiting for test results, following potential contact with COVID-19. This includes time off for those who thought they might have been in close proximity to someone who tested positive for the virus.
Contact Harald was born out of Australia’s booming tech sector in response to the COVID crisis, using wearable Bluetooth technology to provide optimal contact tracing support across any industry, protecting employees and their public data whilst safeguarding the day-to-day productivity of businesses.
According to its research, businesses have on average lost the equivalent of nearly 255 working days due to possible COVID contact, in addition to the average 142 days caused by absent staff with confirmed coronavirus cases.
Nick O’Halloran, founder of Contact Harald, comments: “Our research found that businesses could have reduced the amount of days lost as result of potential COVID by a third (33.5%) – if they had their affairs in order through contact tracking technology. Tech solutions could therefore have saved businesses at least 1,451,170 lost working days.”