When employees are faced with the responsibility of senior caregiving, usually for an elderly family member, they are faced with a disruption that ripples through every aspect of their life, including their workplace. Due to the stress they are under, employees begin to portray the following traits at work.
Begin arriving to work late and/or leaving early on a recurring basis.
Begin using their allotment of vacation time without prior notification.
Begin using their sick time and other paid time off (PTO) indiscriminately.
Begin to show signs of depression or fatigue.
Begin to have problems working with teams.
The average age of the caregiver for a person over the age of 50 is only 47 years old. Nearly 40% of caregivers are men. Nearly 60% of those caring for an adult over the age of 50 are working; the majority of those work full-time.
The estimate is that over 7 million employed caregivers are working full-time providing more intense care for someone over the age of 18. In 2006, 10% or 280,421 men missed on average 12 work days per year, while 18% of women or 757,136 missed on average 33 days a year.
Up to $33 Billion per year! Collectively, the issues overviewed in the first panel, Employees as Caregivers", results in employers losing between $17 billion and $33 billion per year in employee workplace productivity according to MetLife. This is a staggering amount. Most companies have not adopted solutions to address the various issues associated with employee caregiving.
Caring Concierge partners directly with employers located throughout Northeast Ohio providing their employees with a single source for eldercare education along with recommendations to address their specific issues for . The primary drivers of these lost productivity costs are absenteeism ($5.1 billion), shifts from full-time to part-time work ($4.8 billion), replacing employees ($6.6 billion), and workday interruptions ($6.3 billion). Additionally there are workforce wellness issues.
MetLife reports that there is an 8% differential in increased health care costs between caregiving and non-caregiving employees, potentially costing U.S. employers an extra estimated $13.4 billion per year. The implications for caregiving employees and their employers are clear. Employee lost income, coupled with employer lost productivity, adds up to a serious workplace problem.
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