Caregiving negatively affects morale, productivity, and costs. As a result of family caregiving responsibilities, a tremendous amount of talent, loyalty, and institutional knowledge leaves the workforce every day – either temporarily or full-time.
Below are a few brief – yet eye-opening – statistics on how this rapidly growing issue affects businesses.
Recruitment, Retention and Training
At any given time, more than 20% of the workforce is dealing with a caregiving situation.
- 33% of caregivers decrease the number of hours they work
- 29% quit their job or retire early
- 22% take a leave of absence
- 20% change their job status or go part-time
- 53% of caregivers admit that their job performance is negatively affected
- 84% make caregiving related phone calls during business hours
- 68% arrive late or leave early
- 67% take time off from work during the day
Increased Healthcare Cost
Even when your employees are caring for someone not covered by your health plan, YOUR healthcare cost can go up.
- 75% of working caregivers report an adverse effect on their own health
- 50% report 8 additional visits per year to a health care provider (for themselves) as a result of their caregiving responsibilities
- 22% report a significant impact on their own health(Statistics taken from National Caregivers Library)
Utilize the Eldercare Calculator, a cost analysis tool at AgingInfoUSA.com to evaluate the cost of caregiving on your bottom line.
AgingInfoUSA, LLC – Collaborating with companies to create solutions that support employees and alleviate the cost of family caregiving on your bottom line.
Thanks Sean. Because the population is getting older, we all must take steps to proactively prepare. That's one reason AgingInfoUSA has come about. We help bring educational formats into the Corporations, Schools and business to the Adult working children in the workplace: helping them proactively find trusted resources while cutting loss productivity and bottom line to the employers.
Interesting statistics. I'm wondering what next steps are… As America's population gets older, there is an inevitable shift towards more time and resources being used for caregiving for older Americans. Ethical companies shouldn't discriminate based on caregiver status, but other than offering a good EAP, or other support resources, what else can employers do? My parents are rapidly approaching that age, so it's definitely something to which I've given thought.Sean OliverLanguage & Culture Worldwide