Absenteeism measurement and valuation function
v(D_a,H,w) = C
Maps the time a worker is absent from paid work because of ill health, the usual hours worked and a value per hour to the share of working time lost and to a productivity cost. The value depends on the method: the human capital approach counts the whole absence, while the friction cost method counts only the period an employer needs to restore production.
WPAI proportion of work time missed because of health
A = H_m / (H_m + H_w)
Absence cost by the human capital approach
C_HC = D_a / 7 * H * w
Absence cost by the friction cost method
C_FC = min(D_a, D_F) / 7 * H * w * e