The Billion Dollar Employee Crisis Copyright©2012 AgingInfoUSA, LLC.

The Billion Dollar The Billion Dollar Employee CrisisEmployee Crisis

www.AgingInfoUSA.com

Copyright©2012 AgingInfoUSA, LLC

Presented bySue Salach

Author of Along Comes Grandpa

AndIf I Walked In Her Shoes

Caregiving Resources for People Living in the Real World©


Caregiver Caregiver DemographicsDemographics

66% Female 44% Male Median Age: 48 Median Income: $60,300Lifestyle: 50% are working full time and are in need of

easy access to products and resources to assist them not only in their caregiving responsibilities but in their personal life as well.


Issues in Targeting Employee Issues in Targeting Employee Caregivers to offer helpCaregivers to offer help

• Caregivers do not self-identify• Stigma/fear of job loss or demotion• Aging network can be confusing and

intimidating• Shortage of affordable homes and

community-based services and supportive housing


Identifying CaregiversIdentifying Caregivers

Employee Observations:Taking time PTO for things other than

vacation/sick leaveUnusually distracted during work hoursUnusual increase in time on their work or

personal phone during work hoursComing in lateLeaving early


What is the impact of What is the impact of caregiving on your caregiving on your

business?business?

Statistics from the MetLife Mature Market Institute and SHRM on how this rapidly

growing issue impacts businesses.


A Growing A Growing EpidemicEpidemic

According to the Society of Human Resource Management (SHRM), over 90% of companies surveyed expect an increase in the number of employees caring for elderly relatives

The percentage of adult children providing personal care or financial assistance to a parent has more than tripled over the past 15 years ◦ This currently represents a 1/4 of adult children, mainly

Baby Boomers.


Recruitment, Recruitment, Retention and Retention and

Training Training

At any given time, more than 21% of the workforce is dealing with a caregiving situation.

33% of caregivers decrease the number of hours they work

29% quit their job or retire early22% take a leave of absence20% change their job status or go part-time


Lost Productivity Lost Productivity

53% of caregivers admit that their job performance is negatively affected

84% make care giving related phone calls during business hours

68% arrive late or leave early67% take time off from work during the day


Increased Healthcare CostIncreased Healthcare CostEven when your employees are caring for someone

not covered by your health plan, YOUR healthcare cost can go up.

75% of working caregivers report an adverse affect on their own health

50% report 8 additional visits per year to a health care provider (for themselves) as a result of their care giving responsibilities

22% report a significant impact on their own health


Key FindingsKey Findings

•The total estimated cost to employers for full-time employees with intense caregiving responsibilities is $17.1 billion•The average cost per employee for those with intense caregiving responsibilities is $2,441•The total estimated cost to employers for all full-time, employed caregivers is $33.6 billion


•Educate employees and managers on this work/life issue•Provide access to an expert in aging and caregiver services •Build a personal library of caregiving resources and strategies for employees•Defuse crises with heads-up options and strategies

Providing Workplace Solutions Providing Workplace Solutions can:can:


Create a Policy for Create a Policy for Caregiver CommunicationCaregiver Communication

Clearly communicate that sharing work/family balance issues is encouraged

Share information on upcoming seminars with your employees via team meeting, email or group calendar

Encourage co-workers who may be the confidant of an employee caregiver to share concerns with Manager/HR

Assistance with priority setting


What benefits do What benefits do eldercare programs eldercare programs

typically offer?typically offer?

Work time flexibilityPhone or Internet-based resources and referralsFace-to-face consultingEducational activities like on-site seminars and

health fair kiosksProviding a range of decision-support servicesContracting with Elder Care specialists to provide

advice to their workforce.



•Educate employees on work/life issues

•Provide access to an expert in aging and caregiver services

Necessity of Necessity of Seminars and EventsSeminars and Events

•Build a personal library of caregiving resources and strategies for employees

•Defuse crises with heads-up options and strategies

Connect your employees directly to our online directory of health and wellness providers from your intranet.

Link to Established ResourcesLink to Established Resources


Managers Support is VitalManagers Support is Vital

Empowerment and EncouragementSet aside time to listen to the employeeRefer them to the HR department for resourcesConnect them with other caregivers


It could be any of us in that situation at any given time

What is the return on investment What is the return on investment (ROI)?(ROI)?

The most valuable return on investment

for an eldercare program is employee

retention.


What is the return on investment What is the return on investment (ROI)?(ROI)?


Since 1996, it has been reported that

every $1 spent on eldercare programs

gets a return of $3 - $5 in productivity, retention and reduced

absenteeism.

*Source: Society for Human Resource Management's *Source: Society for Human Resource Management's 2003 Eldercare Survey,2003 Eldercare Survey,

47% of HR professionals report seeing an increase in the number of employees dealing with elder care issues over the last several years.


How much is unmanaged eldercare How much is unmanaged eldercare in the workplace really in the workplace really costing your companycosting your company

•Companies without eldercare benefits stand to lose $2,500 a year per caregiving employee.•Absenteeism is the number one problem among employees having caregiving responsibilities.•Only 25 % of organizations offer elder care benefits.

Size doesn’t matter!Size doesn’t matter!Whether your company has

5 employees or 5,000 employee caregiving issue will affect your

productivity and bottom line.


Is Your Company Prepared for the

tsunamiheading your way?


www.AgingInfoUSA.comwww.AgingInfoUSA.com

AgingInfoUSA651 S Sutton Rd,

Ste 204Streamwood, IL

60107(847) 630-0381


The Billion Dollar Employee Crisis Copyright©2012 AgingInfoUSA, LLC.

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