IPA: /ˌæb.sənˈtiː.ɪ.zəm/
KK: /æbˈsɛnˌtiˌɪzəm/
The regular or habitual failure to be present at a place where one is expected to be, especially at work or school.
The company is concerned about the high rate of absenteeism among its employees.
Absenteeism is formed from "absent" (from Latin "absens", meaning not present) and "-eism" (a suffix used to denote a practice or condition). The term refers to the practice or condition of being absent, especially from work or school.
Think of someone who is 'not present' ('absent') and how that relates to the condition of frequently being away — that's what absenteeism means.
No commonly confused words.