The impact of Elder Care issues on corporate America will continue to grow as our elderly population increases. Employees juggling job responsibilities with care giving are a reality in the workplace of today and the future.
Workers are torn between the demands of their job and the ability to provide quality care to their relative.
One out of three American workers is also managing the care of an older relative. Loss of productivity resulting from time off to care for an aging relative is estimated at $6100 per employee per year. Caregiver stress accounts for a 27% increase in use of company health insurance benefits. Seventeen percent (17%) of caregivers quit their jobs to provide care for aging family members, and another 15% reduce their work hours to assist their loved ones. This shocking loss of employee productivity is hitting businesses very hard as more Boomers have senior parents who require caregiving.
Due to the current economic crisis, employees are afraid to take time off from work, apprehensive about talking with their employers about their personal caregiving issues for fear of losing their jobs, and are desperate for help.
To stop this workforce hemorrhaging companies are looking for methods to provide assistance in caregiving to employees to keep them on the job and productive, being sensitive to the needs of the employee in providing information, education, and resources. This in turn can save employees time and money.
We must take a proactive step in dealing with this growing crisis – as we’re heading toward a silver tsunami like we’ve never seen.
For more information go to AgingInfoUSA.com to utilize the Elder Care Calculator to see how caregiving is effecting your company.