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"Including or expanding elder care benefits and services as part of your employee benefit package can lead to a higher number of qualified applicants from which to choose in the future."



WHITE PAPER:

Solving Employee Eldercare Challenges


Elder Care / Work Balance Newsletter
Vol. 8, No. 4

Gerontologist finds Elder Care / Child Care Sandwich Can Make You Sick

(Please note that Veronica's email address in the newsletter is incorrect. To email Veronica please go to the Contact Us Page on this website.)

 

ARCHIVE ARTICLES:

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"We don't have an Eldercare Problem"

"Benefits as a Retention Tool"

"Elder Care Benefits: An Aid in Recruitment"

"What can I expect to find in my custom Corporate Eldercare Solutions report?"

Recommended Reading: "Stages of Senior Care"

 

 

 

References:

Daily Labor Report 2006

Smith, M. (2007). Elder Care Puts Financial Pressure on Middle Aged Workers. Retrieved July 25, 2007, from VOA News website.

 

Marosy, J.P. (1998). A Manger's Guide to Elder Care and Work. Westport, Connecticut and London: Quorum Books.

 

The MetLife Caregiving Cost Study: Productivity Losses to U.S. Business (2006). Metlife Mature Market Institute® National Alliance for Caregiving.

 

The MetLife Study of Working Caregivers and Employer Health Care Costs (2010). National Alliance for Caregiving, University of Pittsburgh Institute on Aging, MetLife Mature Market Institute.

"DEAR EXECUTIVE"

 

"100 Employees = $52,750.00 LOST Annually due to Employee Eldercare Challenges?"

 

Dear Executive:

 

When an employee is also an elder caregiver, their work/life problems cost your company money. Consider just a few of the many startling facts:

  1. The average annual cost per employee for all full-time caregivers is $2110. (The MetLife Caregiving Cost Study: Productivity Losses to U.S. Business 2006)

  2. Employed elder caregivers in the U.S. cost employers an estimated additional health care cost of 8% per year. (Metlife 2010)

  3. According to a survey by the Kaiser Foundation, 25% of workers in the U.S. say they are responsible for helping an elderly parent. (Smith, 2007)

  4. In 2006, the Daily Labor report published over one-third (35%) of workers are dealing with eldercare responsibilities during a given year.

To find an estimate of your annual cost in lost productivity, multiply the low end (25%)* of your employee population by $2,110.00.** What are possible solutions to reduce these losses?

 

Corporate Eldercare Solutions, llc helps companies save money from lost productivity and helps reduce the eldercare related stressors that increase health care costs. We determine the level of impact elder caregiving has on employee work/life concerns, provide solutions to those problems in a customized report and implement enhanced eldercare programs in response to your specific employee eldercare concerns.

 

What can Corporate Eldercare Solutions do for you?

By solving economic drains caused by employee eldercare problems, your company can witness not only improvements in productivity, health and wellness, loyalty, morale, and commitment, but also in retention and recruitment.

Corporate Eldercare solutions is your "front door for answers" as businesses address the elder caregiving issues of their employees. Call us for an illustration on how Corporate Eldercare Solutions can help reduce productivity losses and add dollars back to your bottom line.

 

Sincerely,

 

Veronica Woldt, MA

Corporate Eldercare Solutions, llc

Office: 414-763-6333

 

*(MetLife, 2006) or your own figure; CES note: based on average employee demographic.

**Estimates in the late 1990's ranged up to $3,200 annually (Marosy, 1998)

 

 

To measure and provide solutions for your employee eldercare work/life challenges, contact Corporate Eldercare Solutions today.


Phone: 414-763-6333
Web site: www.corporateeldercaresolutions.com
or go to the Contact Us page to email Veronica directly.

 

 

 

Veronica Woldt, M.A., is the owner and principal of Corporate Eldercare Solutions, llc (CES) and the author of two studies: An Exploratory Study of Corporate Employees with Eldercare Challenges (2009) and The Aging Effect on Corporate America: A study of the use of eldercare benefits by Milwaukee area industry (2003-2004).  

CES helps companies realize the costs associated with unaddressed employee eldercare difficulties via a Customized Employee Eldercare Needs Audit (CEENA). Based on the quantitative and qualitative results of this audit, CES then provides corporate shareholders with solutions to their specific employee eldercare concerns. The results assist in the positive enhancement of company productivity and associated employee health-related issues, as well as facilitating relief of employee eldercare-related stresses, thereby improving employee work/life circumstances.

CES pursues as clients and partners professionals in employee assistance and work/life programs, human resources, HR consulting firms, and executives involved in the concerns of corporate productivity management. CES does not provide eldercare benefits, geriatric case management, financial or legal planning.