The Met Office has recently warned that minimum temperatures have dropped to their lowest levels for 15 years, with snow expected to be between 15 and 25cm deep in parts of the country.
The figure of £230m has been calculated using information such as the daily GDP figure, anticipated vehicle breakdown levels from the AA, average salaries and official data reflecting an expected fall in retail sales.
It is important that employers put in place contingency plans for these occasions
"Employees make businesses grow and losing key staff because of the weather, even for just a day, is very damaging, particularly in the current economic climate. It is important that employers put in place contingency plans for these occasions and that these plans comply with employment law," said the FPB's Research Manager, Tom Parry.
"For example, home working might be seen as a solution - obviously not for manufacturers and retailers - but business owners should be aware that it is their responsibility to ensure that employees' houses meet health and safety standards."
Employee absenteeism represents a huge cost for many small businesses. According to the FPB's recent ‘cost of compliance' survey, small business employers in the UK spend a total of £391m per year on absence control and management - more than on any other aspect of employment law.
The FSB has produced a new guide on employment. To view it click here
