COVID-19 is the only occurrence that has unified the world through a pandemic and an economic crisis at once. It has also brought additional challenges for businesses whose goal is to keep employees paid, employed, healthy, safe and productive while working from home. Productivity is not everything, but it is right up there close to cash flow.
The Society for Human Resource Management has described Caregiving as the silent productivity killer. The Metlife study of Employer Costs for Working Caregivers estimated that U.S employers lose approximately 29 billion dollars each year as a result of employee Caregiving that interferes with work responsibilities.
Today, many businesses and corporations have an additional economic impact from COVID-19. Approximately 30% of the U.S population is involved in providing care for a chronically ill, disabled or aged family member or loved one. Half of all caregivers for persons aged 50 and over are employed full time and almost 75% of them have had to change jobs or stop working because of the demands of family Caregiving. Most employees who are family caregivers have symptoms of clinical depression that goes untreated.
Some employees will lose the caregiving unit of their families due to COVID-19. That might mean that they may not be able to return to work when the stay at home orders are lifted or might have lower productivity than ever before.
What could employers do today to mitigate this threat to productivity? How do employees manage caregiving in this new way of life without additional stress? How would employee health care utilization cost look like for small businesses and corporations in America after COVID-19?
The Caregiver Relief Network is offering a free virtual elder care workplace program for businesses in the united states who have employees who are also family caregivers and who have been affected by COVID-19.
The virtual elder care workplace program has a 4-pronged goal;
#1. To help the employee to develop an individualized wellness, selfcare and work life balance program.
#2. To help the employee to design a backup caregiving system so that there is to help when there is a sudden need for care.
#3. To help the employee design a family long term caregiving plan so when we get back on track, we can stay productive and in balance.
#4. To help the employer lower the cost of loss of productivity, absenteeism and health care benefit utilization as it relates to caregiving.
Help is on the way for your employees. To apply for this free program for your company and your employees click here to apply or email to Stella@StellaNsong.com
