As I talk with businesses regarding the impact elder care is having on their employees including increased absences, late attendance, lower productivity and increased stress, they tell me they had an elder care lunch and learn six months ago so they are all set. No, they are not!
Elder care and its impact on the workplace is so much larger than a single annual lunch and learn. The sandwich generation is being pulled in so many different directions. They are juggling multiple jobs including their job that helps them earn a living, their caregiving job taking care of their aging relatives and possibly their child raising job. Businesses need to provide more support to get the most from their employed caregivers. Many of these caregivers are baby boomers who are in leadership roles in their organization. No business will want to lose the value of their expertise due to their personal life challenges. Businesses can help.
Services may include flex time, free information and referral services, education, geriatric care management services, and elder mediation services. Just imagine a workplace where a man who wants to move his mother to Maine can make one call and an elder care expert can put a package together of the top facilities that can best meet their needs while he stays focused at work. Or a woman who thinks she may have to leave her job because her caregiving role has become so great, can speak with an elder care expert who can help her get the resources she needs and develop a plan so she can stay at work knowing her mother is being well cared for. This is possible and it is possible today.
For businesses, offering services is a win/win. They not only help existing employees enabling them to perform at their best, but they also help themselves and their recruiting and retention efforts. Studies have shown for every $1 spent on elder care services, they receive a benefit of $3 to $5 in increased productivity and reduced costs.
Elder care and its impact on the workplace are only going to grow in the coming years. Top companies are starting to realize they have a role to play. Maureen Corcoran, VP of Diversity at Prudential Financial says it best: “Elder care resources help employees care for their loved ones and continue to care about their companies. A smart organization educates employees about its business needs so they understand the best way to contribute over time. Likewise, it educates itself about its employees’ life needs so it can support and retain them over time. If an employee is forced to choose between caring for a loved one and devoting themselves to work, the company will lose. That loss will most certainly be in work quality and, more deleterious in the long term, in the loss of the hearts and minds of employees in their commitment to the firm.”
Good companies care about their employees. Let’s hope that more start to see the value in helping their employees do a better job at home so they can do a better job at work.
