As a Gen X-er, I am a bit tired of hearing about Baby Boomers and their demographic footprint. These demographics have overshadowed many parts of my life up to this point and now their health and retirement choices are impacting everything. I am not a Boomer-hater, more just a bit bitter that my generation is sandwiched in between two that continue to be at center stage. I recently became aware of one particular set of impacts for X-ers, Millennials, and i-gen as the Boomers age, they are creating another mountainess boom, this time in their need for caregiving. Many X-ers had kids late, and that puts them in that ‘elastigirl’ spot where they need to provide caregiving to both their children and their parents at the same time, a caregiving sandwich, so to speak.
If you’re working and caring for an aging loved one or have employees or customers who are, you’re not alone. Caregiving issues impact both caregivers and their employers. Caregiving impacts 1 in 5 U.S. workers, according to a 2015 AARP report, and the issue is growing. By 2030, the proportion of the U.S. population aged 65+ will double to about 71 million older adults. And, more than 20% of those caregivers are millennials.
Caregiving issues drive $50 billion of business loss annually due to things like attrition, lower productivity and increased health care costs. Most people – and organizations – don’t have the resources or expertise to handle these issues on their own.
While some U.S. businesses are doing a noble job providing caregiver support at work, a Harvard Business School report published earlier this year shows far too many employers are not delivering when it comes to caregiving. Employers are still struggling to become what Harvard calls “caring companies.”
The Harvard report identifies areas where employees and employers are not in sync. For instance, employees say they want flex time. This benefit was offered by 65 percent of employers surveyed but only used by 39 percent of employees. In addition, seven in 10 employees described referral services for caregivers as “very important” to company loyalty yet only 38 percent of employers felt these services were effective in employee retention rates.
“Employers who truly understand caregiving offer a broad range of options to support employees showing how to really create a culture of care at work because everyone’s caregiving situation is unique,” said Brooks Kenny, executive director of ReACT (Respect a Caregiver’s Time), a coalition of 40 companies and nonprofits formed to provide employers with essential caregiver information and tools.
Donna Benton, director of the Los Angeles Family Caregiver Resource Center affiliated with USC, agrees. “Caregiving is not a one-size-fits-all experience,” she says. “At different times throughout the caregiving journey, an employee may need help with home care, adult day care, senior living communities, Medicare/Medicaid questions, transportation and other financially draining needs.”The Harvard report identifies areas where employees and employers are not in sync. For instance, employees say they want flex time. This benefit was offered by 65 percent of employers surveyed but only used by 39 percent of employees. In addition, seven in 10 employees described referral services for caregivers as “very important” to company loyalty yet only 38 percent of employers felt these services were effective in employee retention rates.
“Employers who truly understand caregiving offer a broad range of options to support employees showing how to really create a culture of care at work because everyone’s caregiving situation is unique,” said Brooks Kenny, executive director of ReACT (Respect a Caregiver’s Time), a coalition of 40 companies and nonprofits formed to provide employers with essential caregiver information and tools.
Donna Benton, director of the Los Angeles Family Caregiver Resource Center affiliated with USC, agrees. “Caregiving is not a one-size-fits-all experience,” she says. “At different times throughout the caregiving journey, an employee may need help with home care, adult day care, senior living communities, Medicare/Medicaid questions, transportation and other financially draining needs.”
To address these challenges for employees and employers, employers re beginning to offer new benefits to their workers. An example of this, is a comprehensive caregiver support solution called MyCareDesk, which helps caregivers reduce stress and organizations improve productivity. The solution blends digital tools with guidance from senior care experts so employees can manage their caregiving responsibilities all in one place and have more time to focus on work and their own families. Progressive employers like: Point B Management Consulting, Northern Trust, and Axios HR have all introduced this service to their employees.
“We understand the challenges caregivers face and we want to make it easier for caregivers who juggle many responsibilities,” says Troy Mills, President, Carallel, LLC. “Every caregiver’s journey is unique and by providing personalized support and resources we help both individuals and organizations perform at their best.”
In addition to information and tools across a wide range of topics and real-time access to experienced Care Advocates, MyCareDesk features different series of articles on timely topics for caregivers including a new series on dementia. Articles explore issues like dementia screening, challenging behaviors and the best ways to communicate with a loved one with dementia.
Backup care is also one of the benefits that Starbucks announced for its 180,000 employees last fall. The retail coffee giant is offering both child care and senior care services—including 10 subsidized backup care days annually for emergency situations when an employee needs on-demand help.
To learn more about MyCareDesk, visit www.carallel.com.