Solve the attached case to calculate the Employee Separation cost 1 * 10= 10 marks 1. Consolidated industries, an 2500 employee firm, is faced with a serious and growing absenteeism problem. Last year, total employee hours lost to absenteeism came to 174,808. Of the total employees absent 55 percent were blue collars (Avg. wage $ 28.15 per hour), 22% were clerical (Avg. wage $21.80/hour), and the remainder were management and professional ( Avg. wage $39.50/hour). On average, the firm spends 35% more of each employees salary on benefits and, as company policy, pays workers even if they are absent. The 55 supervisors (avg salary $31.35/hour) involved in employee absenteeism problems estimate that they lose XMRimposed by those who fail to show up for work. Finally, the company estimates that it loses $819,500 in additional overtime premiums, in extra help that must be hired, and in lost productivity from the more highly skilled absentees. How do you go about in estimating the cost of employee absenteeism as a HR Director and to present the same to the Board of Directors of the company?