The Benefits of
We can’t always predict, but we can prepare.
KNOW YOUR NUMBERS
Employers are now challenged to explore elder care benefits that can not only reduce the losses below, but boost employee loyalty, morale and retention. Of course, in a time when businesses are struggling with health care benefits, elder care benefits may be the furthest thing from the minds of company leaders.
Of the 44 million people who care for aging parents or elderly relatives, 70% of them work full- or part-time. The stresses and demands on these working caregivers are overwhelming. They are often late to work, early to leave and distracted throughout the workday.
Torn between family obligations and duties at work, there is rarely a balance for these over-taxed caregivers. According to a study by the National Alliance for Caregiving and AARP, 11 percent of these workers will take a leave of absence and 10 percent ultimately will quit their jobs.
BOTTOM LINE FACTS
According to the U.S. Bureau of Labor Statistics, the impact is substantial:
American businesses lose an average of 2.8 million work days each year due to unplanned absences and presenteeism.
Those absences cost employers nearly $74 billion annually.
Work day interruptions due to care giving of adults cost employers around $3 billion;
Absenteeism due to care giving alone costs employers nearly $5 million a year.
Janice Roberts – Founder, Alliance Home Health Care, http://www.eldercareresourcesbayarea.com/
Plan Your Story delivers a wide array of resources with minimal impact to the employer while providing a real, long-term impact to the employee.
Though presenteeism in the workplace has existed for many years, the term has only been recently defined.
It is extremely important that human resources experts learn how to effectively measure presenteeism within their workforce.
In 1994, Professor Cary Cooper, a psychologist specializing in organizational management, coined the term 'presenteeism' to describe workers who remain on the job but who are not as productive as usual due to illness, stress or any other type of distraction.
The causes of presenteeism cover a broad spectrum—from health-related issues like allergies, depression, diabetes and even the common cold to non-health-related issues like financial troubles, family issues and workplace conditions.
Presenteeism can include:
Additional time on tasks
Decreased quality of work
Impaired executive functions (i.e., initiative)
Lowered capacity of peak performance
Decreased quantity of work completed
Impaired social functioning with co-workers
One of the reasons employers have been more cognizant of absenteeism vs. presenteeism is that they can account for actual costs associated with sick pay, salary continuation, workers’ compensation, short- and long-term disability and family/medical leave. Essentially it's right there in front of them. While absenteeism is important, researchers now say presenteeism can be more costly to businesses.