Why US Companies Need to Step Up and Do More for Employee-Caregivers
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About 30% of American employees are juggling a job and family caregiving responsibilities, but their employers do almost nothing to support them. This costs the company money. More money than they know or every American employer would step up and do more for their employee-caregivers.
Of course, most Baby Boomers prefer to stay in their own homes as long as possible as they age. But quite frankly, that means they depend on family members. They rely on family members who are already employed, have children and their own households to manage. These volunteer caregivers are stretched thin and burned out.
Sometimes, they can hire some help. But most of the time organizing and overseeing that process is overwhelming, too. Plus, it is expensive (geriatric care management can be $180/hour!). Other services and technologies as alternatives to family caregivers exist:
- Cooking
- Chores
- Transportation
- Pet Care
- Legal
- And many, many more!
But that doesn’t solve the problem. The sheer myriad of options overwhelms caregivers and their families into choice paralysis.
So, families juggle the responsibilities themselves, and try not to complain. All in the name of love.
EMPLOYEE-CAREGIVER BURDENS
Usually, families try to manage caring for their loved ones alone. They spend hours, sometimes when they should be at work, coordinating care for aging family members. At the beginning, the average is 5 hours per week. Eventually, that increases to 20 or more hours weekly. And this care cycle is, on average, 5 ½ years long.
Commonly, there is a specific event that shifts the burden, so the employee-caregiver becomes more aware of their caregiving responsibilities. This could be following a hospitalization, a sudden change in a chronic condition, a new medical diagnosis or a change in the physical surroundings.
Many Americans who age in place have trouble accepting help. Many frustrating and stressful conversations precede calling government agencies and medical offices trying to get insurance coverage. Every time, describing the entire situation from scratch. Hours and hours of caregiver time.
The constant struggle to juggle full-time work, caregiving, and other obligations is physically and mentally exhausting. It is not unusual for these employed caregivers to end up in the hospital themselves.
HOW COMPANIES LOSE MONEY
Maybe the government should fund the social services for these families with caregiving needs. But they don’t. At least not yet, and not in America. So, without an appropriate social program it is left to those who have a financial incentive to take action. That leaves it to the employers.
Employee-caregivers are torn between their most productive employee selves and being loyal to their aging family member. If they choose their parent, it impacts their career. They pull back from assignments, promotions, and responsibilities at work, knowing they need time and energy when they leave.
Eventually, they quit. Maybe they retire early. But they do leave. And not just on a temporary leave of absence, although that is usually the first step.
The Harvard Business School report explains that the employee turnover, hiring costs, and loss of institutional knowledge cost companies millions of dollars. An AARP study reports that American businesses lose over $33.5 billion, just in productivity. Losses are estimated at $6,000 PER EMPLOYEE (not just employee-caregivers) for each and every organization in the US. (Do the math for your company.)
Child Care vs Elder Care
Yes, employees caring for aging parents do have many experiences similar to those caring for young children. But there are significant differences. Many companies do offer childcare assistance benefits and accommodations for parents. Childcare resources are widely available throughout the country, like schools, preschools and babysitters. Mostly, there is a reasonable expectation among employers that many of their employees are parents. The employers are usually parents themselves. Parents balance successful careers while they raise their family, seldom requiring a leave of absence.
While childcare assistance mostly impacts the careers of women, almost half of all employee-caregivers are men. And the men are far more likely not to consider their family responsibilities as something that impacts their productivity. So, employer-sponsored eldercare assistance programs impact the careers of employees of both genders more equally. In organizations with more men represented in management positions, this opportunity may provide an even greater return on investment for the employer.
HOW COMPANIES CAN HELP EMPLOYEE-CAREGIVERS
The first step is to complete a thorough analysis of the caregiver situation within the organization. As yet, here at LifeWorkx, we have never encountered an organization that has a complete picture for the impact caregiving is having on their profits and morale. Yes, never. Even the best-intentioned organizations, looking closely, do not have all the tools necessary to analyze the full scope of the costs.
But there are some things organizations have learned that do being the employee-caregiver support cycle.
- The fanciest new tech-enabled eldercare support is not always the best. Low utilization rates fail to influence the permanent cultural change necessary. Check tech carefully.
- Educational workshops help support the shift in culture for employee-caregivers and their teams. Normalize the conversation to start the cultural shift about the demands of employee-caregivers in the workplace. Bring in specialists as required.
- A critical step is to review the organization’s current employee benefits. Benefits such as legal insurance, paid leave, and financial advisory services do support employee-caregivers on their journey. Communicate these benefits to employees so they understand their options.
Employee-caregiving is not new, but the 10,000 Baby Boomers who turn 65 every day make this a crisis for American business. Soon, the majority of the workforce will be burdened with family care responsibilities while they hold a job. American businesses lose money every day as the workforce dwindles. And taking care of the employee-caregivers in your organization is what will make the difference.
When the time comes, almost every American will have some responsibility for aging parents. By taking action now, employers can maintain a reliable workforce.
