The time, energy and resources employees devote to caregiving presents an unprecedented and often overlooked challenge for employers. (Photo: iStock)
Little known fact: many of your current employees are working a second full-time job. No, I'm not talking about driving for a car-sharing service. Not freelancing. No, these employees are caring for elderly or disabled loved ones.
Consider the statistics: 42 percent of employed Americans (more than 54 million people) have provided eldercare in the last five years. Sixty-nine percent of working caregivers had to rearrange their work schedule, decrease hours or take a leave because of these responsibilities. And, the estimated cost of caregiving in terms of lost productivity hours is a whopping $33 billion each year.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.