1 in 5 employees losing productivity due to informal caregiving at a cost of $3,466 per employee is significant, it could be worse.
Recent work place surveys reflect 55% of employees have been asked to provide long-term care services for a family member or a friend at some point in their career.
In addition, 82% of employees feel informal caregiving responsibilties could impact their productivity at work.
At an individual level, the costs of informal caregiving for your employees is substantial, as they face:
- Lost wages
- Lost savings
- Lost investments
- Lost 401(k) contributions
- Out-of-pocket caregiving expenses
The estimated annual impact is approximately $25,000, with a cost of in excess of $75,000 before they are forced completely out of the work force.
It doesn’t have to be that way – for your business or your employees.
Request your free subscription to Care Support Network for free care resources and care planning.