Since you understand the issues, we can help you create a corporate legacy of installing a more natural way to work and care.
Does your company measure the costs of your employment and care collision brought on by a non-existent aging baby boomer caregiving system? Do you know what your investments are returning? Have you considered reclaiming the health and effectiveness of your workforce balanced with supporting their role as a caring family who works?
“This is not a matter of semantics. The difference between supporting workers who care about, not for, their aging family members is monumental. We will save the deeper national workforce and economic strategies for another blog. Note on your scratchpad that it exceeds 10% of your annual revenue,” says Jeannette Galvanek, CEO CareWise Solutions and former Senior Executive for workforce transformation at AT&T.
Businesses are investing in their employees’ aging family caregiving solutions to meet the expectations of 90% of aging baby boomers to stay in their homes.
Employers have taken responsibility for helping employees balance the conflicts between care and their job by offering home-based solutions such as flexible scheduling, PTO, and leaves of absence. This approach supports employees in caring for their aging parents in the home.
Remember that needs grow over time from picking up groceries and helping with laundry. In approximately 5 ½ years, average 45 hours a week or more of family caregiving, and grow to 24 hours a day.
Government research shows that after 10 hours a week, your (already working) caregivers start to perform nursing tasks.
“By omission or commission, employers and employees are covering the cost of home care at great expense. They are away from their jobs, losing income and family relationships, and many are on the verge of mental health crises,” says Galvanek.
If you are a business decision-maker, you are scratching your head. Employers and employees find options for aging care choices slim, so they do what they can with the facts about families caring at home. You know that your work and care decisions can impact the sustainability of your business with a robust and motivated workforce. You know that employees want careers and more; your customers want relationships they can count on. Your work and care decisions impact the sustainability of your business, employees, and customers.
Now that 73% of your workforce are employed caregivers, are you ready to measure the cost of wellness, productivity, motivation, team effectiveness, turnover, and retention issues due to Social Determinants of Care and an unprepared care industry?
Companies spend about $16,000 per employee on health care, with the employee spending about $6,000. Focusing on the employee caregiver isn’t always the priority of the CFO. Employers lose about $10,900 per employee-caregiver per year in productivity losses, and employee-caregivers lose at least $7,200 per year supporting family caregiving expenses. This does not include their income losses. The cost of employee-caregiver turnover can reach three times the salary of the employee being replaced, you are experiencing more significant benefits claims for health and disability, and the rate of successful employee-caregiver litigation exceeds 400%! The list can go on!
Stop dual employment if you want to stop the work and care collision
While tech and healthcare send medical care to the home and local communities, they must create business structures to serve inclusive living and care needs. For some reason, despite the cross-industry/agency nature of the whole person’s needs, products and services flow to the home without rhyme or reason. Where is Anderson Cooper, you may ask? But the reality is that until this root problem is fixed, employees and employers have one option to maintain their business – fill the void!
Transition to the Business of the Future – Caring and high-performing business environment by 2025
Clarify and Publicize Corporate Wellness, Work, and Care Values
A big obstacle to stopping dual employment is your corporate ideology or beliefs about families and work.
Institute Work and Care Anywhere
The paradigm of work has changed. Now the same needs to happen for family care. Empower the full team to bring care management to work. (Leave Grandma at home, please.)
Days off and leaves of absence are a productivity and income loss. Create this free win-win approach.
Institute Education Curriculum for All Employees
Educate all team members. We are encountering a once-in-a-century event. Baby Boomers are aging with an unprecedented impact on families, work, and workers.
Encourage Family Resource Management
Our business partner LegalShield is an expert resource to businesses, employees in general, and employee caregivers. The Smart Solutions Group helps navigate access to family care resources and professionals. Contact Michael@thesmartsolutionsgroup.com
Get Financial Planning Assistance for Caregivers
On average, according to a survey conducted by Genworth Financial, the national monthly for home care staff is $4,000. Even if a working caregiver has the budget to pay for a caregiver, it’s almost impossible to find and keep one. Consider family care as an employee benefit, financial relief and long-term care insurance for incoming staff!
Broaden Corporate Policies and Recruiting Prowess
Why not set up a plan to relook at your unique work and care collision? Get the facts and transition to the workplace of the future! Baby Boomers are aging for the next decades. Advocate for jobs & careers supporting Care at Home Staffing Success. Use your recruiting prowess to build a pipeline through corporate healthcare workforce development.
Build a Culture of Health, and Address Social Determinants of Health and Care
Shift your Chief Medical Officer, HR, and CFOs focus. Create a new “Results Book” measurement and shared financial ledger.
Learn To Work and Care More Naturally
A viable business requires a healthy, motivated workforce available to perform with minimal unplanned disruptions. Working caregivers deserve career opportunities while being there for the family. All team members want to feel part of the business mission. Include everyone.
In closing
Keep Your Focus on The Root Cause
Who is responsible for providing care at home for another 70 million aging baby boomers?
Reclaim Your Resources – the Profitability Challenge
Employers are responsible for employment and employees.
The care economy is responsible for successful care at home.
Employees are responsible for loving relationships, work, and care management.
Invest in Careers and Care Success
Engage all employees, ask them what they need, and overcome barriers to reach mutual success.
We reach across traditional vertical boundaries shaping a new employment and care environment. We are socially responsible and contribute 10% of sales to Carewise Solutions, Educational Charity-a 501 (c ) (3) Delaware corporation.
Contact me for a free 30-minute discovery discussion.
All Employee Orientation – Self-Paced Program
Team Leader Care Aware Series – Self-Paced or Facilitated Sessions
Human Resources Strategy – Small Group Sessions/On-Demand
Leadership Beliefs – Small Group/On-Demand
Caring Place Hub Implementation – Consulting
Jeannette@carewisesolutions.com
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