According to a research study done by the Mature Market Institute at MetLife, the proportion of adult children providing personal care and/or financial assistance to a parent has more than tripled over the past 15 years. Currently, a quarter of adult children, mainly Baby Boomers, provide these types of care to a parent. The study also found that working and non-working adult children are almost equally as likely to provide care to parents in need.
Another MetLife study, Sons at Work: Balancing Employment and Eldercare showed that men share many of the same difficulties with caregiving identified by working women. Once caregiving has started, more than six out of 10 (62%) caregivers say that they make some sort of workplace accommodation, such as going in late and/or leaving early, taking a leave of absence, or dropping back to part-time.
Caregiving for an older relative is an important factor in the health, medical care expense, and productivity of employees across all age groups, and therefore in the health costs for employers.
Programs and resources available through Eldercare Resources can provide the much needed support to working caregivers and serve as a vehicle to indirectly reduce employee health care costs, with resulting bottom-line benefits to the employer.
Employees are exhibiting a heightened interest in and appreciation of employee benefits. Solution-oriented strategies and innovative health and well-being programs that tie together health and work make bottom-line sense along with all their other advantages.