Caring for aging parents or ill loved ones is an enormous responsibility that can often leave people feeling drained. For many, this duty is compounded by the need to balance a full-time job, leading to intense physical, emotional and financial strain. The impact on employee well-being is real, and according to CNN, many businesses are beginning to address it. How exactly can elder care services reduce employee burnout?
Why Is Balancing Work and Caregiving So Hard?
More than 48 million people in the United States care for adult family members or friends. Most of these caregivers are employed, and most work full-time. This balancing act often feels like a juggling act, with caregivers managing doctor’s appointments, medication schedules, daily tasks like grocery shopping and even finding long-term care solutions—all while trying to stay on top of their job responsibilities.
It’s no surprise that many caregivers face burnout. According to a report from AARP, over 50% of working caregivers are forced to arrive late, leave early, or take time off to fulfill their caregiving duties. Some caregivers must cut back on hours or switch to part-time work, while others even quit their jobs temporarily or permanently.
What are Employers Doing to Help?
As the population ages and people stay in the workforce longer, the need for elder care services will only increase. Some companies have begun recognizing this shift, expanding their benefits to support employees caring for elderly relatives. Providing flexibility in work schedules is an essential way employers can help. However, some are going further by offering elder care services as a benefit.
A survey by HR consulting firm Mercer found that nearly a third of companies with 500 or more employees offer or plan to offer elder care support services. These include referrals for caregiving consultations, backup elder care services, caregiver support and elder care leave. These benefits are essential in helping caregivers balance their work and home lives without sacrificing one for the other.
How can Elder Care Services Help You?
The daily stress of caregiving can make it hard to focus on work, which is where elder care services come into play. Employers can reduce the caregiving burden by giving employees access to care coordination or home health aides. This support allows caregivers to stay focused on their jobs, while ensuring that their loved ones receive the necessary care.
Elder care services can also help reduce absenteeism. When caregivers are confident that their family members are receiving the proper care, they can attend work more consistently and without distraction. This benefits the caregiver, helps companies reduce turnover and maintains a more engaged workforce.
Can Elder Care Services Save You Money?
Being a caregiver can be expensive. According to AARP, many caregivers pay out of pocket for medical care, transportation and household assistance, averaging more than $7,000 annually. But there are ways to ease the financial burden. Some employers offer programs that provide access to resources or financial assistance for elder care.
Caregivers may reduce their tax bill if they can claim the person they care for as a dependent. Community resources, such as respite grants, offer temporary relief to caregivers, giving them a chance to rest and recharge.
Ready to Explore Elder Care Solutions for Your Family?
If you’re feeling overwhelmed by caregiving responsibilities, you’re not alone. Eldercare services are becoming a crucial benefit for employees nationwide. However, planning for the future can make an even more significant difference. Creating an estate plan that addresses elder care can alleviate many worries about caring for aging loved ones.
Don’t wait until you’re burned out to seek help. Contact our estate planning team today to discuss how we can help you create a plan that protects your loved ones and your well-being. Schedule a phone consultation to get started on your path to peace of mind.
Key Takeaways:
- Improved work-life balance: Elder care services help employees manage their caregiving duties without sacrificing job performance.
- Reduced financial strain: Access to caregiving resources and potential tax breaks can ease the financial burden on caregivers.
- Increased workplace productivity: With caregiving support, employees are more focused, reducing absenteeism and burnout.
- Greater emotional well-being: Having elder care services available can relieve stress and help caregivers feel more supported in work and family life.
Elder Care Services reduce employee burnout and provide an important break for family caregivers.
Reference: CNN (Oct. 6, 2024) “How companies can ease the strain on employees taking care of elderly parents or ill family members.”
