Omega Industries, a 2,500 employee firm (45 hour work week), is faced with a serious, and growing, absenteeism problem. Last year, total employee hours lost to absenteeism came to 78,500. Of the total employees absent, 45 percent were blue collar (average wage of 18.15/hour), 40 percent were clerical (average wage of $21.80/hour), and the remainder were management and professional (average salary $40.60/hour). On average, the firm spends 25 percent more of each employee's salary on benefits, and, as company policy, pays workers even if they are absent. The 60 supervisors (average salary of $31.25/hour) involved in employee absenteeism problems estimate they lose 30 minutes per day for each of the 220 days per work year just dealing with the extra problems imposed by those who fail to show up for work. Finally, the company estimates it loses $750,500 in additional overtime premiums, in extra help that must be hired, and in lost productivity from the more highly skilled absentees. As HR director for Omega Industries your job is to estimate the cost of employee absenteeism so that management can better understand the dimensions of the problem. Calculate the total estimated absenteeism cost per employee.