Caregiving Impact Employer Perspective
-
Upload
aladdin-francis -
Category
Documents
-
view
16 -
download
0
description
Transcript of Caregiving Impact Employer Perspective
Caregiving Impact Employer Perspective
As a CorporationPromote Health
As a Payer Company’s Healthcare
Cost
As an EmployerWork Product
and Efficiencies
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
1
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
Source: •Mature Market News, “The MetLife Study of Working Caregivers and Employer Health Care Costs” 2010..
“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
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
Employee Caregiving and ReACTStructure Mirrors Reality
Employee Caregiving ReACT Organizational Structure
Not a simple 1:1 relationship, rather a network of committed individuals
ReACT is not a formal organization – rather a loose coalition of committed individuals from companies that understand the issue.
Not about 1 issue – about many ReACT representatives are not only HR professionals – but from a wide range of functions within our members’ organizations.
Caregiving is not a heroic event around a brief crisis, rather it is about an enduring commitment.
Executive level support from ReACT member companies sustains the implementation of the vision
• Surveyed 3,500 employee caregivers
Employee Impact
• Modeling project
Employer Thought-Leadership • “how to”
toolkit
Employer Solutions Toolkit
2011 2012 2013
ReACT(ions)Create Employer Action
Foun
datio
nal R
esea
rch
Ampl
ify
Incu
bate
Launch Caregiver Remote Connectivity Technology Pilot
Near FinalizationAnticipated Launch in July
Technology Tool Pilot w/ ReACT
Companies’ employees
3 Fo
cus
Area
s
What Employees NeedPreliminary Model
Low Priority for Future Investment
Higher Driver of Job Satisfaction
Low Driver of Job Satisfaction
Poorly Experienced in U.S. Workplaces
Highest ROI / Largest Uncapitalized
Potential
Low Return on Further Investment
Paid Sick Leave That Can be Used for Caregiving
Assisted Living and Nursing Home Counselors Unpaid Vacation or Leave
That can be Used for Caregiving
Flex Time Allowance
Paid Vacation or Leave That Can be Used for
Caregiving
Health Counselors That Provide Information about
Conditions
Access or Recommendation to Relevant Support Group
Emotional Distress Employee Assistance
Program
Access to Financial or Legal Advisors Substantially
Experienced in U.S. Workplaces
Current Key Job Satisfaction Driving
Variables
Unpaid Sick Leave That Can be Used for
Caregiving
Based on ReACT Gallup/Healthways data