The Homethrive 2021 Employee Caregiving Survey found 84% are interested in an employee benefit that provides resources, guidance, and support for caregiving
NORTHBROOK, Ill., August 26, 2021--(BUSINESS WIRE)--As Washington politicians debate funding eldercare for millions of Americans, a growing number of workers say they’re distracted, worried, or focused on caregiving instead of their jobs.
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According to news reports, funding eldercare is an exceedingly popular idea amongst voters. Two-thirds said expanding access to home-based care for the elderly is important, while nearly 50% favored the expansion, which is more popular than free pre-k and childcare assistance to middle-class families.
Supporting an aging loved one is stressful and distracting at work. According to The Homethrive 2021 Employee Caregiving Survey, 43% of respondents are distracted, worried, or focused on caregiving (and not their job) 5 or more hours per week, while 20% are distracted at work more than 9 hours per week. Sadly, this is not surprising and without intervention will increase over time.
While one in five Americans is a caregiver, according to AARP’s report Caregiving in the U.S., employers are not aware, nor focused enough, on how that outside responsibility may impact their workforce and workforce performance. Nearly 40% of respondents to the Homethrive survey either said that their supervisor is not aware of their caregiving responsibilities outside of work or weren’t sure if their supervisor was aware.
Additionally, more than half of respondents indicated their supervisors were not as supportive as they needed them to be about their outside-of-work caregiving responsibilities.
One third of respondents said that their supervisor had noticed a change because it was impacting their performance or because they were noticeably under stress because of their caregiving responsibilities.
"Our survey results confirm that managing life and career is a delicate balancing act with many challenges," said Bonni Kaplan DeWoskin, Vice President, Marketing at Homethrive. "Providing support for aging loved ones is stressful and distracting, yet employers are not widely aware of, nor focused on, how that outside responsibility impacts their workforce and workforce performance."
Despite the growing need for employee benefits that support caregivers, 79% of employers are not yet offering them or are not communicating about such benefits, according to the Homethrive survey. However, that is changing. A survey of employers from earlier this year found that more than three quarters of employer respondents will increase their focus on caregiving over the next five years.
The Homethrive survey confirms this upward trend and the need for caregiving benefits. The vast majority (84%) of respondents said they would be interested if their employer offered a benefit that provided them with resources, guidance, or support for caregiving.
"The unfortunate truth is that many American employers are missing the boat because employees are distracted from their jobs because of caregiving responsibilities," DeWoskin continued. "And as our survey confirmed, the majority would welcome an employee benefit that can help them as they help their aging loved ones."
The U.S. is in the midst of a hidden caregiver crisis that impacts companies and employees alike, according to a survey from Harvard Business School, "The Caring Company: How Employers Can Cut Costs And Boost Productivity By Helping Employees Manage Caregiving Needs." Without adequate caregiving support for employees, companies incur millions of dollars of hidden costs through employee mental health issues, turnover, and substantial productivity costs such as increased absenteeism and presenteeism.
About The Homethrive 2021 Employee Caregiving Survey
The Homethrive 2021 Employee Caregiving Survey was conducted via a third-party survey provider from June 28 - July 21, 2021. Two hundred adults in the U.S., who work outside the home while also providing support and care for an aging loved one, were surveyed about how those caregiving responsibilities impact their employment. Respondents were from a variety of companies and industries; make at least $50,000 per year; and currently support at least one aging loved one. The survey pool was 64% female and 36% male.
Homethrive is a high-touch/high-tech family caregiving platform. Through the integration of digital coaching and human support services for aging and eldercare navigation, guidance, and community experience, Homethrive improves outcomes and lowers costs for aging adults living at home and reduces the work, worry, and stress on family caregivers. Through its personalized platform and algorithms, Homethrive provides 24 x 7 digital and human concierge services and expert coaching from certified Homethrive social workers. The Homethrive program is available nationally and offered primarily through insurance companies and as an employee benefit through employers.
Homethrive was co-founded by Dave Jacobs and David Greenberg, who both personally struggled to navigate the process of caring for aging parents at home. As veteran healthcare professionals, they were surprised that finding the support and guidance they needed to care for their aging parents proved to be far more challenging than they anticipated. The company was launched in partnership with 7wireVentures after identifying the vast unmet need for a comprehensive solution to support caregiver’s elder parents looking to age in place. https://www.homethrive.com/
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