Companies Response to the Rising Cost of Employee Caregiving

A PlaceForMom recently published a report on how companies such as Nike and Deloitte are remodeling their benefit packages.

Employees desire expanded leave programs to benefit their parents, while turnover costs accelerate due to millions of unpaid absences

The High Cost of Caregiving

According to the National Alliance for Caregiving, caregivers who don’t receive support from employers experience a negative impact on their careers. The Alliance’s MetLife Study of Caregiving reports that caregivers who leave work lose an average of $304,000 in benefits and wages over their lifetime.
Working family caregivers are at an increased risk of lost productivity, increased mental and physical health issues and stress, if they don’t have support from their employer. Ultimately, paid leave for caregivers helps employers ensure their top talent have the support they need to remain creative, efficient and productive while caregivers receive the support and time they need to provide proper care for their family members.
Despite the win-win benefits, paid caregiving leave isn’t commonly provided by corporate America. In fact, “the U.S. is the only industrialized country that doesn’t mandate some form of paid parental leave,” Rachel Emma Silverman of The Wall Street Journal reports.

Be sure to follow the full report via (A Place For Mom)

For additional support contact your Caring Workplace Eldercare Specialist, Heather Spindler at 314-802-5106 or via email at hspindler@standrews1.com