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Caregiving Impact Employer Perspective

Caregiving Impact Employer Perspective. Alzheimer’s disease Most commonly reported disease requiring care by an employee Chronic Pain Caregivers are 35-50 % more likely to experience chronic pain Stroke 5 th most commonly reported condition requiring care by an employee Diabetes

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Caregiving Impact Employer Perspective

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  1. Caregiving Impact Employer Perspective • Alzheimer’s disease • Most commonly reported disease requiring care by an employee • Chronic Pain • Caregivers are 35-50% more likely to experience chronic pain • Stroke • 5th most commonly reported condition requiring care by an employee • Diabetes • Twice as common in caregivers than non-caregivers • Health risk behaviors • Smoking is higher among caregivers • Depression • Risk strongly correlated with caregiving • Heart Disease • Three times more common in caregivers • Employee Caregiving Impact: • Lower Productivity • Presenteeism • Absenteeism • Decreased Retention

  2. Caregiving ImpactAdditional Perspective Every year, employers assume $13.4 billion in increased health care costs for caregiving employees Lost productivity to U.S. business for caregiving employees is estimated at $17.1 to $33.6 billion annually Cost of replacing experienced workers can range from 50-150% of their annual salary “Aging will make it hard for governments to deal with mounting financial pressures. It may be time to rethink our policies towards work.” – Jean-Philippe Cotis, Chief Economist, OECD My Administration's Middle Class Task Force, led by Vice President Joe Biden, has made supporting family caregivers a priority, and we are working to assist caregivers as they juggle work, family, and financial responsibilities. – President Obama, Proclamation for National Family Caregivers Month, 2010 • Source: • Mature Market News, “The MetLife Study of Working Caregivers and Employer Health Care Costs” 2010..

  3. ReACT is an employer-focused coalition dedicated to addressing the challenges faced by employee caregivers and reducing the impact on the companies that employ them. ReACT seeks to create a business environment where the unique challenges of caregiving for adults with chronic diseases are understood and recognized by employers to ensure caregivers feel supported and have the resources they need to better meet their personal responsibilities for caregiving and their professional demands.  ReACT engages leading corporations and thought-leader organizations including: Aetna, Cleveland Clinic, Gallup, Georgetown University, Gundersen Lutheran, Healthways, Johnson and Johnson, Mercer, Microsoft, M.I.T Age Lab, MWV, National Alliance for Caregiving, Pfizer, United States Chamber of Commerce, and Alzheimer’s Association

  4. Employee Caregiving and ReACTStructure Mirrors Reality

  5. ReACT(ions)Create Employer Action Foundational Research 2012 2011 2013 3 Focus Areas Incubate Launch Caregiver Remote Connectivity Technology Pilot Near Finalization Anticipated Launch in July Amplify Technology Tool Pilot w/ ReACT Companies’ employees

  6. What Employees NeedPreliminary Model Higher Driver of Job Satisfaction Highest ROI / Largest Uncapitalized Potential Current Key Job Satisfaction Driving Variables Emotional Distress Employee Assistance Program Assisted Living and Nursing Home Counselors Unpaid Vacation or Leave That can be Used for Caregiving Poorly Experienced in U.S. Workplaces Flex Time Allowance Access to Financial or Legal Advisors Substantially Experienced in U.S. Workplaces Access or Recommendation to Relevant Support Group Paid Vacation or Leave That Can be Used for Caregiving Paid Sick Leave That Can be Used for Caregiving Health Counselors That Provide Information about Conditions Unpaid Sick Leave That Can be Used for Caregiving Low Return on Further Investment Low Driver of Job Satisfaction Low Priority for Future Investment Based on ReACT Gallup/Healthways data

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