The Financial Impact of Domestic Violence
When most people think about domestic violence, they don't immediately think about its impact on business. But the truth is, domestic violence costs businesses billions of dollars every year in lost productivity, increased healthcare costs, and absenteeism. It's time for businesses to get involved in the fight against domestic violence. Here's why.
The Cost of Domestic Violence to Businesses
According to a report from the National Domestic Violence Hotline, domestic violence costs businesses $13 billion every year in lost productivity, increased healthcare costs, and absenteeism. That's a huge financial burden for businesses of all sizes. And it's not just the big corporations who are impacted; small businesses are hit hard by domestic violence, too. In fact, according to the Small Business Association, 60% of small businesses close within six months of a domestic violence incident.
The Impact of Domestic Violence on Employees
Employees who are struggling with domestic violence are less productive, more distracted, and more likely to miss work. In fact, according to the National Coalition Against Domestic Violence, victims of domestic violence lose an average of eight days of work each year due to the effects of trauma. This loss of productivity can have a significant financial impact on businesses. Additionally, employees who are struggling with domestic violence are more likely to need time off for doctor's appointments, emergency room visits, and court appearances related to the abuse.
How Businesses Can Help Prevent Domestic Violence
Businesses have a role to play in preventing and responding to domestic violence. By providing support and resources for employees who are affected by domestic violence, businesses can help make a difference. For example, many businesses offer employee assistance programs that provide counseling and other support services for employees dealing with personal issues like domestic violence. However, some employees would rather utilize local outside organizations. Additionally, businesses can donate to or partner with local organizations that provide support for victims and survivors of domestic violence.
Domestic violence is a serious issue that impacts businesses of all sizes. The financial cost is alarming, and the impact on employees is significant. Businesses should make it part of their mission to support organizations that are working with victims and survivors of domestic violence. By taking action against domestic violence, businesses can make a real difference in their communities.
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