Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
1, Focus on outcomes, not hours at a workstation, should be the first step to creating a workplace that can adapt to employees’ needs.
2, Flexible work policies can include varied start and finish times, compressed workweeks or job sharing.
3, Encouraging leaders to share their personal caregiving experiences can help set a tone of understanding that can help normalize the challenges of working caregivers.
4, Consider surveying employees and focus groups to determine what benefits would make a difference when it comes to offering more personalized options, such as lifestyle spending accounts.
According to the Rosalynn Carter Institute for Caregivers, one in five full-time employees — more than 26 million people in the U.S. — cares for a loved one while continuing to work full-time. Even more startling, a 2023 AARP survey reported that more than half of workers between the ages of 40 and 49 self-identify as caregivers, spending an average of 20 hours a week caring for aging parents, children or both.
The number of people older than 65 is rapidly growing, as are the numbers of people who are chronically ill or disabled. Caregiving responsibilities are increasingly impacting workplaces, as the dual role of working caregivers often leads to increased stress, absenteeism and even attrition.
These factors adversely affect a person’s output and can influence team dynamics and morale. Some studies report that, on average, companies currently lose as much as one-third of their productivity due to the caregiving duties of their employees. The projected loss of productivity is staggering for organizations and the U.S. economy.
Companies are addressing this growing crisis in several different ways. Larger organizations take advantage of robust HR and benefits departments to create internal caregiving support programs. Others are turning to comprehensive caregiving platforms to provide specific human and data-driven solutions to help support working caregivers. For smaller companies, having the resources to design new internal caregiving support systems or utilize external platforms may be challenging. The good news is that there are still ways to support working caregivers in your organization.
Here are five actions to consider to better support your working caregivers, reduce impacts on productivity and maintain a healthy work culture:
Shifting the focus from attendance to deliverables-based performance should be the first step to creating a workplace that can adapt to employees’ changing needs. Flexible work policies could include varied start and finish times, compressed workweeks, job sharing, part-time work, and, of course, remote work options. These elements exist in new work policies like 3M’s “Work Your Way” program, which relies heavily on trust combined with maximum flexibility.
Companies of all sizes can remove the stigma and/or penalties associated with caregiving-related absences by focusing on outcomes rather than hours spent at a workstation. Studies and empirical evidence show that it not only supports the well-being of employees but can also lead to increased job satisfaction, loyalty and productivity.
Many employees may feel uncomfortable discussing their current situation even when there are flexible policies. They may feel that their employer will question their commitment to the workplace or that they’ll get passed up for a work opportunity or promotion. Perhaps they’ve even seen co-workers experience career setbacks or even lose their jobs due to the impacts of caregiving.
However, many high-performing employees and people in leadership positions are also working caregivers. Encouraging leaders to share their personal caregiving experiences can help set a tone of understanding and support that goes a long way. This type of openness helps normalize the challenges of working caregivers, making people more willing to seek help from their employers.
Benefits can be a significant cost for employers, but there are ways to expand core benefits without incurring large cost increases. Consider conducting employee surveys and focus groups to identify benefits that may be easy to offer and could make a big difference when it comes to working caregivers’ needs in terms of offering more personalized benefits. Lifestyle spending accounts, for example, are flexible benefits to support various employee needs, from dependent care to personal well-being. This benefit, funded by employers, offers a versatile solution to support employees’ diverse needs.
Working caregivers may find it challenging to participate in important team-building and social events outside of work and really value the social connection with colleagues. As an employer, you can organize these activities during work hours to ensure inclusivity and support everyone on the team. If you’re committed to volunteering as a group, try to find opportunities that allow employees to engage without impacting their caregiving responsibilities or that can occur during the regular work schedule.
Providing access to mental health resources involves offering employees services such as confidential counseling, employee assistance programs (EAPs), stress management options and mindfulness training. Again, as leaders you must promote a culture that normalizes mental health issues by talking about stress and other concerns openly and honestly, and by offering benefits that support mental health.
By providing resources and flexibility, employers can alleviate the stress and challenges caregiving employees face, ensuring they achieve productivity and balance in all areas of their lives. This benefits the employees and contributes to a positive workplace culture, ultimately supporting the organization’s bottom line by retaining valuable talent and maintaining high operational efficiency.
