Caregiver Questions... ANSWERED
Why Support Caregivers in Your Organization?
Caregiving is universal... at some time everyone’s life will be touched by it!
- Pre-pandemic research shows that nearly 20% of any workforce care for loved ones who are ill, elderly, disabled or special-needs children during “off-work” hours.
- That number rises to 73% of the workforce if parents caring for their children are included as caregivers.
Caregiving takes a toll on caregivers... especially in this COVID-19 era.
- Since the pandemic, 83% of caregivers report that juggling caregiving with work, home/family responsibilities has increased their stress. This stress negatively impacts their physical, mental and financial health.
- It is likely that many of the caregivers in your organization are also some of your most experienced, reliable and respected employees; people you want to support and retain.
Caregiving takes a toll on businesses... by reducing productivity and increasing health-care benefits costs. Research shows:
- Higher health benefits costs: Average 8% higher costs for all caregiving employees; 11% more for blue-collar caregivers; and 18% more for male caregivers.
- Lost productivity: Employee caregivers’ productivity declines about 20% -- resulting in annual losses averaging $6,404 per person. These costs are primarily due to: workday interruptions; absenteeism; shifts from full-time to part-time work; and expenses of recruiting new employees to replace caregivers who leave the workforce.
How to Support Caregivers in Your Organization
Whether your valued associates are employees, policy-holders, or union members/retirees, you can offer them real support with Help4Caregivers:
- An easy-to-navigate online platform
- Curated by a registered nurse & experienced caregiver
- Hundreds of links, videos & toll-free helplines
- Simple, 24/7 access to trustworthy information & answers
- Downloadable caregiving guides, tools & care plans
- Self-care & resilience strategies for caregivers
- Inspiration & encouragement
- The comfort of knowing they’re not alone!
How Caregiver Support Benefits Your Organization
Pinnacle H4C’s underlying value proposition is two-fold.
First, caregivers want to work for employers who care about their well-being. PH4C positively impacts individual caregivers by:
- Equipping them to handle caregiving responsibilities
- Boosting their resilience, well-being, and productivity
- Preserving their capacity to provide quality care.
Some of your most experienced, reliable, and respected employees are caregivers; people you want to support and retain. Also, offering care benefits can differentiate your organization when competing for new talent.
Data show that employers who support caregiving employees promote trust, loyalty, and employee growth. Among caregivers who feel their employer cares about their well-being, 74% are more satisfied with their job, and 74% also report that they prefer to stay with their employer for 10 years or more (Guardian Life, 2020).
Second, Help4Caregivers enables employers to realize key strategic, financial, and HR objectives:
- Increased productivity
- Lower absenteeism and presenteeism
- Reduced health care costs
- Enhanced employee awareness of employer’s commitment to their well-being.
Research shows that employees who care for loved ones during “off-work” hours reduce the productivity and increase the health-care benefits costs of their employers. The data may surprise you!
How Much Does Caregiving Cost Your Organization?
Follow these two simple steps to see how caregiving impacts your bottom line:
- Identify how many people you employ.
- Enter this number in the white “# of Employees” box below. You will receive an instant calculation of your organization’s Total Cost of Caregiving that is based on 2022 data.
This data will be completely confidential. No data will be gathered from your responses.
Invisible Overtime: What employers need to know about caregivers. Debra Lerner, MSc, Ph.D. Rosalynn Carter Institute for Caregiving. January 2022. https://www.rosalynncarter.org/wp-content/uploads/2022/03/Invisible-Overtime-White-Paper.pdf (Accessed March 18, 2022)
MetLife Study of Working Caregivers and Employer Health Care Costs: New Insights and Innovations for Reducing Health Care Costs for Employers. MetLife Mature Market Institute. February 2010. https://www.caregiving.org/wp-content/uploads/2020/05/Caregiver_Costs_Study_Web_FINAL_2-12-10.pdf (Accessed January 27, 2020)
Willis Towers Watson: Employers expect health costs to rise by 5% in 2022. https://www.fiercehealthcare.com/payer/willis-towers-watson-employers-expect-health-costs-to-rise-by-5-2022 (Accessed January 27, 2022)
How to Get Help for Caregivers?
Help for Caregivers is not available to the general public. These invaluable resources are only offered as a benefit by employers, insurance brokers, trade associations, and unions.
For more information on how Help for Caregivers can help you and your organization, contact Pinnacle H4C, LLC..