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November 21, 2024

Insights Uncovered: Caregiver Benefits Your Employees Expect

Expert answers to your company's top health questions

A woman cares for her young child and older parent.
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Welcome to Insights Uncovered, a series from the Health Action Alliance that delivers valuable perspectives from industry thought leaders on the health issues facing your company, in their own words.

Today, we’re looking at creative ways employers can support working caregivers, including those in the “sandwich generation” — people who are raising children and also caring for aging family members.

What innovative policies can employers implement to support working caregivers of both young children and older loved ones?

Orriel Richardson

Orriel Richardson
Head of Policy & Advocacy, Morgan Health
JPMorgan Chase

"Employers recognize that a healthier, more engaged workforce drives better business results and contributes to a stronger economy. With more than 70% of U.S. employees serving as caregivers in some capacity, it is critically important that employers offer resources to empower this population to balance the demands of their home and work responsibilities.In fact, research from Harvard Business School shows that if sufficient caregiver support prevented just five employees from quitting, it could save a company $200,000. Yet, we know that when caregiver needs are unaddressed, it makes it unnecessarily difficult for them to stay engaged in their careers.

Caregivers require unique, tailored support. As a positive first step, employers should conduct an annual survey on desired infrastructure to support caregivers — ensuring an evidence-backed stance for future benefit years."

Megan Neumann
Principal, Total Health Management
Mercer

"Support for caregiving responsibilities has gone from a luxury option to table stakes in company benefits packages. Our global survey found that over 70% of workers are taking care of children, elderly parents, or others in need.

Mercer works with employers to construct holistic child- and elder-caregiver support, from paid leave to resources such as backup care, onsite child care, concierge support, child care assistance, dependent care savings accounts, and lifestyle spending accounts — all aimed at assisting individuals in managing their caregiving responsibilities while maintaining a healthy work-life balance. These benefits are designed to keep people in the workforce, reduce leave and missed work, and give caregivers the peace of mind to be present at work.

For a majority of working parents, support for work-life balance is non-negotiable, and caregiver benefits can be a game changer when it comes to attracting and retaining employees."

SPONSORED ANSWER

Tricia Sandiego

Tricia Sandiego
Director, Programs
AARP

"Employers recognize challenges faced by the "sandwich generation," caregivers supporting both children and older loved ones. Here are a few examples of the types of policies and benefits that can support caregivers in the workplace:

  • First, flexible work arrangements, including remote options and providing caregivers adaptability for changing schedules.
  • Second, caregiving leave acknowledges that care sometimes requires extended time away, reducing stress and improving retention.
  • Third, providing resources or subsidized care services.

Building a workplace that openly supports caregivers normalizes this often invisible work. These approaches help employees balance professional responsibilities with family care across generations. By offering caregiving-supportive benefits and policies, employers demonstrate commitment to their workforce, fostering loyalty and productivity while addressing the complex needs of modern families."

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Kristin Adams

Kristin Adams
Global Head of Citi Benefits
Citi

"At Citi we are there for our colleagues when it matters most. This year, we enhanced our U.S. parental leave, providing both birth parents and non-birth parents more time to focus on family – supporting all paths to parenthood. We also introduced a new caregiver leave to care for an immediate family member.

Our decision to increase the time available to all new parents or those who need time to take care of a loved one, demonstrates our commitment to ensure colleagues are successful at work and at home. This is just one part of our approach to care for our teams’ total well-being – It’s also a key element to attracting and retaining top talent."

Lucy Avsharyan

Lucy Avsharyan
VP, Global Benefits
United Talent Agency

"Organizations can support working caregivers by offering flexible hours, hybrid schedules, and paid caregiver leave. As a certified Foster Care Friendly Workplace, we want to encourage and support anyone interested in becoming foster parents, giving them the opportunity to make a meaningful difference in the lives of these children and families in need by including them in our paid leave policies. Creating caregiver support networks, subsidizing care services, and providing access to caregiver apps can also support balancing work and family needs.

Organizations need to find ways to be creative and leverage what they have. For example, in February 2024, I hosted a lunch-and-learn with our client, Dr. Allison Applebaum, author of "Stand by Me: A Guide to Navigating Modern, Meaningful Caregiving," where we discussed the challenges of caregiving and highlighted UTA’s benefits that support employees who are managing child care and elder care. Some attended because she is a client who just released her new book, while others joined to learn about how UTA can support them in their journeys."

A MESSAGE FROM AARP

Click to learn more: "Show you're committed to an age-diverse workforce. Join the companies in affirming experienced workers by taking the AARP Employer Pledge."

AARP is a nonprofit, nonpartisan organization that focuses on the priorities of older Americans and empowers people to choose how they live as they age. Show your commitment to creating an age-diverse workforce. Join more than 2,000 organizations and become part of the AARP Employer Pledge Program.

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