It wasn't that long ago we were in deep discussion about childcare, working women, and the workforce. Although this remains a concern, and an issue, we are facing a crisis that needs the same, if not more attention than childcare, and that is eldercare.

Currently 50 million Americans are caring for an aging relative. As Baby Boomer's age, we can expect a significant growth in that number. Employers need to recognize what eldercare costs their businesses.

In the last few years there have been several studies done related to eldercare in the workforce. The estimated cost to US businesses is 33 billion a year, or over $2100 per employee providing care to a relative. An article in Workforce.com called “Eldercare Issues Shake the Workplace” is a great description of what we are facing. http://www.workforce.com/archive/feature/22/25/84/index.php

This is not a problem that employers can avoid. Companies have to realize the cost if they don't address eldercare as soon as possible. Employees caring for an aging spouse or parent must attend to their parent just as a parent attends to a child. Family caregivers spend time making care arrangements, checking on a parent, responding to urgent calls, and taking time off for doctor appointments, or for meeting with physicians and social workers at the hospital. Their responsibilities are very taxing, and result in lack of focus on the job, fatigue, and their own health problems, requiring more time off.

The last thing employers want to hear is they need to provide eldercare benefits, especially in a tough economy. We have all heard it costs less to retain a customer than obtain a new one. It is no different in the human resource departments of American business. It takes more money to hire, train, and retain an employee, than to keep employees satisfied, productive, and loyal. There are options for employers whether you can afford benefits or not.

No doubt there are employers that can afford to get eldercare benefits in place and employers that can’t. I am an employer, so I understand. AARP reports a $3-$14 return on every $1 spent on eldercare benefits; if that is something you can afford to do. If you can’t afford benefits, you can at least provide resources in an Employee Assistance Program. Either way, whatever you do, your bottom line will be affected. You really are choosing how much affect elder care will have on your business.

Employees trying to juggle their family, household, career, and eldercare are looking for answers to help them in the best way possible. They need an employer that is sympathetic to their situation and has created a supportive work environment. Putting simple solutions in place can keep an employee loyal, and focused on their work, in a full time capacity, and happy.

Countless employees are reducing their hours, taking early retirement, or leaving the workplace altogether for lack of solutions to their stressful lives. Many would remain at their jobs if they knew about resources available, or had eldercare benefits. Employees are not happy with the prospect of lost income either. Sometimes their jobs are the only time they get out of the house.

Providing solutions makes sense for both the employer and employees, and will have a positive effect on financials as well as business moral. Everyone knows a happy, and caring place to work is a great place to work.

For some great articles on facts and solutions, go to an article in AARP, How Employers Can Support Working Caregivers, http://bit.ly/W9bZD and Workforce.com, Ways HR Can Support Elder-Care Services
http://www.workforce.com/archive/feature/22/25/84/223608.php

For a free consultation or a lunch time seminar for your workplace, please email Angil Tarach at visitingangelswc@comcast.net, or call (734) 929-9201 to schedule an appointment.