The Monday morning blues after a weekend on the booze is costing the broker industry millions in sick days.

The latest poll looking at the costs of binge drinking shows more than eight in ten employees will pull a sickie on Monday morning after a weekend partying.

Portfolio Payroll, the City-based financial recruitment firm, and Peninsula, the UK's largest employment law firm, have released the figures, which also show that more than nine in ten have faked illness to get over a hangover.

It is more likely for employees to call in sick at the end of the month after being paid, the survey suggests.

Of the 584 employees questioned 81% said they had called in sick after a weekend of heavy drinking.

A staggering 86% said they would drink considerably more at the end of the month.

Portfolio Payroll managing director Danny Done said the problem was cultural.

He said: "We live in a drinking society and it is engrained into our culture.

"It is something that employers cannot control. Employees cannot be babysat and told how much to drink, the mere notion of it would be ridiculous and
inconceivable."

He advised employers to take a stand against absenteeism. Simply allowing it to happen, he said, would "cost businesses around the country millions every year in lost time and productivity".

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