Today’s workforce includes 73% of employees who have caregiving responsibilities, whether for young children or aging parents. According to the AARP, nearly 70% of these caregivers struggle to balance their work with their caregiving duties at home, leading to stress, absenteeism, and ultimately, burnout. Caregiving is now the number two reason for employees leaving the workforce altogether, behind planned retirement.
Luckily, by providing comprehensive caregiving support and targeted benefits, employers can enhance employee well-being, boost retention, and increase productivity.
It’s important to understand the differences between child care and eldercare solutions and the complexities that come with each.
Let’s take a look at how you can provide well-rounded caregiving benefits to your employees so they can feel supported in their personal and work lives.
Child Care Support: Essential for Working Parents
Child care services encompass a wide variety of activities, from providing daycare and afterschool programs to helping parents find reliable nannies or babysitters. Child care support is critical for working parents, especially those who have children under 5 years old.
Child Care Benefits for Employees
For working parents, dependable child care isn’t a luxury; it’s a necessity. According to the U.S. Bureau of Labor Statistics, 91.9% of families with children have at least one working parent. In many cases, both parents work, which creates an ongoing demand for affordable, quality child care solutions.
Top Employee Child Care Benefits to Consider:
Onsite or Nearby Daycare: Access to daycare within or near the workplace minimizes commute times and provides peace of mind for parents.
Flexible Scheduling: Flexibility in work hours allows parents to handle emergencies or attend school events, which can be crucial for employee morale.
Subsidized Child Care Costs: Covering or partially subsidizing costs for daycare or after-school programs can ease the financial strain on working families, fostering loyalty and reducing turnover.
These are important benefits that can help reduce stress for working parents and encourage them to focus on their work without worrying about having enough time for their family obligations.
Tip: Employers should consider offering onsite daycare centers, flexible working hours, and backup childcare options as part of their benefits package in order to support employees who are responsible for caring for young children. Additionally, employers should consider offering financial assistance for childcare expenses such as tuition fees or transportation costs. Each of these benefits will not only help your employees feel more supported, but they’ll also boost productivity and morale. |
Eldercare Benefits: Supporting a Growing Need
The U.S. has over 53 million unpaid caregivers, many of whom are in the workforce. Eldercare benefits not only support the physical needs of elderly individuals but also provide crucial emotional support for the caregivers themselves, helping them maintain focus and productivity at work.
What is Eldercare?
Eldercare services focus on the unique needs of elderly individuals, ranging from home health aides to adult daycare centers. Eldercare is one of the fastest-growing needs for families in the U.S., especially as our population continues to age and life expectancy increases. According to the U.S. Bureau of Labor Statistics, over 37 million people provide unpaid eldercare in America.
Top Eldercare Benefits to Consider:
Access to Home Health Aides: Subsidies for home health services help employees provide quality care while balancing work responsibilities.
Flexible Hours for Caregivers: Allowing flexible schedules for employees with eldercare duties can reduce stress and absenteeism.
Respite Care Options: Providing temporary in-home support services gives employees a needed break, preventing caregiver burnout.
Comprehensive Family Caregiving Benefits: Programs like Homethrive offer 24/7 digital support and personalized care guides to assist employees with eldercare, from medical coordination to emotional support, helping them manage both work and caregiving more effectively.
These benefits can help employees better manage their caregiving obligations while still attending to their work duties. Additionally, employers should consider offering financial assistance for eldercare services such as medical bills or transportation costs.
Providing well-rounded eldercare requires more than just financial assistance; it also entails understanding the emotional and physical needs of those receiving care.
Tip: Employers should ensure their eldercare services program includes access to medical resources such as medication reminders and home healthcare visits, as well as emotional support resources such as counseling and social activities. In addition, employers should also consider offering respite care options so that caregivers can take a break from their responsibilities without worrying about the safety of their loved ones. |
Just like child care benefits, offering employees the peace of mind that their aging family members are being taken care of can not only help to reduce stress, but also increase productivity and company loyalty.
The Business Case for Caregiving Benefits
Comprehensive caregiving benefits aren’t just a perk—they’re a strategic investment in workforce health and productivity. By helping employees manage their caregiving responsibilities, employers can improve retention, enhance job satisfaction, and position themselves as an employer of choice.
Caregiving Benefits for Employees
Providing well-rounded caregiving support is essential in today’s world, where most families include multiple generations living side by side. But providing well-rounded caregiving benefits isn’t only important for employees; it can also be beneficial to employers, helping to retain talent and productivity while reducing stress.
Caregiving benefits like Homethrive offer a number of options and opportunities for caregiving assistance.
Available anytime, anywhere: A caregiving platform that works anywhere in the country and is available 24/7, so that you don’t have to wait for answers to your most pressing questions.
Resources and tools to help simplify caregiving: The self-service platform includes smart tools to help you find the right products and services for your unique needs, along with the latest toolkits, checklists, and information on a range of caregiving topics.
Live support for personalized support: For more emotional support, or with help making calls, booking appointments, and doing research, Care Guides are available to help with the most time-consuming tasks on a caregiver’s to-do list.
By understanding the differences between child care and eldercare solutions, as well as ways to make them more cost-effective, employers can help their employees provide the best possible care for their loved ones.
