In today’s fast-paced business environment, balancing work and personal responsibilities has become increasingly challenging, especially for employees who are also family caregivers for their aging loved ones. Despite the growing need for support, many companies fall short of providing the necessary resources. CareWise Solutions delves into the reasons behind this lack of support and explores the compelling benefits for both employers and employees in addressing this critical issue.
Top 3 Reasons Employers Do Little to Nothing for Employees with Aging Care Responsibilities
1. Lack of Awareness and Understanding
Many employers underestimate the prevalence and impact of caregiving among their workforces. Research at Harvard Business indicates a significant disconnect, with about 80% of workers acknowledging that caregiving affects their productivity, while only 25% of employers recognize this impact.
Plus, employers (and most other Americans, including the caregivers themselves) perceive aging care responsibilities as a private, family matter, not a systemic threat to workforce stability. The collision of stress, work, and care is complex, so executives, managers and team leaders feel overwhelmed and paralyzed by an abstract concept.
2. Perceived Misalignment with Short-term Profit Goals
Companies perceive implementing innovative benefits for caregivers as an unproven investment. Yet, aging care benefits attract better talent, reduce turnover, and enhance productivity and morale. Results are significant. The same research at Harvard Business showed employers reduce absenteeism by up to 50% and achieve a return on investment (ROI) of up to 72%.
3. Misconceptions About Solutions to the Caregiving Crisis for Employees
Employers believe existing programs (e.g., EAPs, wellness apps) are enough, even when underutilized or ineffective. Gaps in support from legacy approaches fall short of addressing this once-in-a-lifetime societal shift as baby boomers age.
“The caregiving crisis is real, but most companies do not yet recognize it as a critical business issue with significant workforce stability implications for the long term. They know they have workforce problems, but the cause is still hidden from them.” ~ Jeannette Galvanek, CEO CareWise Solutions
Why Bother? Your Workforce is Unstable and at Significant Risk
Investing in innovative solutions such as workforce training, concierge services, and collected vetted care resources is not only an act of compassion but also a strategic move that addresses the unstable and high-risk nature of the current workforce.
- First and foremost, tailored training programs for all employees, especially team leaders, significantly bolster capabilities in managing stress while boosting productivity and engagement.
- Concierge services, which provide personalized assistance with caregiving and non-care-related tasks, dramatically ease the burden on employees. This targeted support enables them to focus more on their professional duties, leading to increased productivity and job satisfaction.
- Additionally, offering a repository of vetted care resources in the Caring Place HUB ensures that employees can access reliable, high-quality options for themselves and their loved ones. This saves them time and energy and gives them peace of mind, knowing that their family members are in good hands.
Embracing innovative solutions fosters a supportive and productive workplace culture. It signals to employees that their well-being is a priority, which enhances loyalty, reduces turnover, and attracts top talent who value a company that cares for its people.
In summary, addressing the caregiving needs of employees goes beyond the moral imperative to a business strategy that leads to a more stable, resilient, and committed workforce.
Ready to Stabilize Your Workforce?
CareWise Solutions offers webinars and initial one-to-one executive strategy sessions at no cost.
Ask for a free copy of “Support for Employees Exhausted by Caregiving Demands.”
Contact us at info@CareWiseSolutions.org.
