Cut Costs by Assessing Employee Caregiving Need in Your Workplace
The Problem: Caregiving Employees Cost Business
Research findings indicate sobering business losses due to employees struggling to balance caregiving responsibilitie sand work. A 2006 study performed by the MetLife Mature Market Institute and the National Alliance for Caregiving,found that businesses lose between $17.1 and $33.6 billion per year. In their new 2010 case study of 17,097 U.S.employees, they found nearly 12% of these employees care for an older person costing US employers an extra estimated$13.4 billion per year due to their health costs — costs that total 8% more than non-caregiving employees. This study further indicates that the caregiving burden is affecting the health, medical care expense, and productivity not only the older worker, those 50 or older, but also those between the ages of 18 and 39.1 While this work’s findings on employees caring for older loved ones are significant given that 22% of middle-aged and older workers identify as having caregiving2, the real cost of caregiving employees is actually higher due to an increasing number of employees of all ages struggling to care for younger individuals such as children and spouses living with disabilities.
Employee Caregiving Needs Assessment and Support Services Offered:
Providing a Strategy to Reduce Stress and Cost
The Massachusetts Lifespan Respite Coalition (MLRC) is offering businesses the opportunity to prevent and reduce costs incurred by employees with caregiving responsibilities that hinder productivity at work. We are designing and implementing an employee survey aimed at assessing the impact of caregiver responsibility on workers. Based on survey results, the MLRC will work with you to identify and provide the best mix of caregiving worker supports aimed at reducing caregiver stress. Caregiver supports include stress reduction tools and respite options to workers and managers who benefit from training so that they can better support their team members.
Phase One: MLRC designs an anonymous employee survey and sampling methodology in consultation with business site
Phase Two: The site implements distribution of survey with returns going directly to MLRC
Phase Three: MLRC provides survey results and a report that includes next step recommendations.
Phase Four: MLRC works with site to provide the best mix of resources responding to needs identified in the survey.
For more information, contact: Emily Kearns, PhD, MBA Consultant for the MLRC at 978-604-0830.