Working Parent to Working Caregiver

Many human resources executives believe that elder care will be to the 21st century what childcare was to the last few decades. The seismic demographic shift of an aging America means new headaches for employers. As more employees transition from “working parents” to “working caregivers of older adults,” these care requirements will have a direct impact on the cost of doing business.

Consider the facts:

Between 2011 and 2030, the number of elderly in this country will nearly double from 40.4 million to 70.3 million. Source: U.S. Bureau of Census.

American businesses can lose as much as $34 billion each year due to employees’ need to care for loved ones 50 years of age and older. Source: MetLife Mature Market Institute and National Alliance for Caregiving, MetLife Caregiving Cost Study: Productivity Losses to U.S. Business, July 2006.

10% of employed family caregivers go from full-time to part-time jobs because of their caregiving responsibilities. Source: National Alliance for Caregiving and AARP, Caregiving in the U.S., 2004.

Both male and female children of aging parents make changes at work in order to accommodate caregiving responsibilities. Both have modified their schedules (men 54%, women 56%). Both have come in late and/or leave early (men 78%, women 84%) and both have altered their work-related travel (men 38%, women 27%). Source: MetLife Mature Market Institute, Sons at Work: Balancing Employment and Eldercare, June 2003.

59 percent of employees who were caregivers missed at least one full day of work, 44 percent encountered workday interruptions and 29 percent reported health problems. The actual cost of this issue can be measured in several areas: absenteeism, presenteeism (physically present but not productive), career development, health care costs, performance levels and early retirement. Source: Eldercare Survey by the Society of Human Resource Management (SHRM), 2003.

Observers say such statistics prove that elder care is a broad issue that either is affecting, or soon will affect, a large portion of every employer’s workforce, including senior-age employees, older employees with ill spouses and those with elderly parents and relatives. It may already be affecting yours.

What Can Employers Do?

Business owners should think about how they are going to respond to this issue because it’s not going away. Though large companies may have money to add new benefits such as long-term care insurance, job-sharing or extended family leave programs to lighten the load for employees, most small companies don’t have that luxury. That is where our Elder and Disability Law Office can help. The Elder and Disability Law Practice of Jerold E. Rothkoff provides a variety of free resources designed to connect employees and caregivers with care, information and services so they can focus at work.

1. www.RothkoffLaw.com (this website) ~ This online library is filled with articles, information and resources for caregivers.
2. Monthly Focus on the Caregiver Seminars ~ The monthly seminars provide valuable information to assist a caregiver for their loved ones held in our Cherry Hill office.
3. Publications ~ The South Jersey Guide to Senior Resources and the Nut’s and Bolts Guide to Veteran’s Benefits offer valuable information regarding resources for seniors.
4. Resource Library ~ Feel free to visit our resource library located in our Cherry Hill, NJ office containing brochures and pamphlets on all services related to seniors and those with disabilities.
5. Educational programs, brown bag luncheons and seminars on elder topics that matter to your employees. Let your employees choose a topic or we can suggest a series.
6. Speakers Bureau ~ Jerry Rothkoff and his staff provide educational presentations on topics related to elder law such as long-term care planning, asset protection, advanced directives, Medicaid and Medicare.
7. A Referral to the Law Offices of Jerold E. Rothkoff ~ If you suspect that an employee’s performance or productivity issues are stemming from the stresses of elder care issues, we encourage you to refer them to us. We offer a variety of services, including asset protection, care coordination, care advocacy and Life Care Planning that lighten the burdens on family caregivers before, during and after the elder’s transition to long-term care inside or outside the home.