CNN —Taking care of an elderly parent or seriously ill spouse or family member can be physically and emotionally draining — and expensive for the caregiver in more ways than one.
While employers have been expanding their benefits to help employees start families and more easily care for their children, they are now thinking more holistically about what it means to support employees’ family lives, including benefits for things like elder care, Izbicki said.
Fuller constructed a return-on-investment model to assess the value of providing caregiving benefits.
Given the high cost of replacing employees, reducing turnover can mean the cost of providing caregiving benefits will more than pay for itself.
Protecting caregivers’ financesWorking caregivers navigate a lot: Finding doctors, heath care aides and assisted living facilities or nursing homes.
Persons:
caregiving, ”, Melinda Izbicki, Mercer, Izbicki, Joseph Fuller, Fuller, ” Fuller, Danielle Miura, Miura, ” Miura
Organizations:
CNN, AARP, National Alliance for Caregiving, Harvard Business School
Locations:
United States