Employers and Eldercare

Productivity loss in the workplace due to eldercare responsibilities is a growing concern for many companies. The statistics related to this topic are staggering and the impact will continue to increase in the coming years.

Costs¹

• $26 billion per year – estimated cost of productivity losses associated with caregiving for a family member over the age of 50
• 8.6% of full time employees care for an adult over the age of 50 (other studies indicate higher percentages)
• Average cost across all full time employees is $181/year

¹Analysis based on 2006 MetLife Caregiving Cost Study and US Bureau of Labor Statistics

Employment Trends

• 70% of employers report increases in caregiving-related staffing problems in the past 10 years¹
• In 2000, 13% of the workforce was 55+ and by 2015, 20% of the workforce will be 55+²
• The average age of the caregiver for a person over the age of 50 is 47 years³

¹Families and Work Institute, ²Bureau of Labor Statistics, ³AARP and National Alliance for Caregiving

According to AARP

• “Long-distance caregivers miss close to 20 hours of work per month, 44% must rearrange work schedules and 36% miss work completely.” 
• “It is reported that companies reap a $3 - $14 return on every $1 they spend on eldercare benefits."

National Council on Aging Survey - What Working Caregivers Want

• One phone number to call to get started looking for resources
• A way of finding information on caregiver rights, elder rights, caregiving services and their costs
• Consolidated resources/one-stop shopping
• Service providers that “translate” industry terms into common language
• Service providers that operate with working caregiver hours in mind