Missy Plohr-Memming, Senior Vice President, Metlife Group Benefits
Finding A Healthy Balance Between Work and Life can be difficult for employers. However, for those with additional Caregiving Responsibility at Home – Taking Care of Elderly Family Members, Young Children or Both – It can be Particularly Challenging to Cope with Competing requests Without Feeling Overextended.
According to Metlife’s 2024 Us Employee Benefit Trends Study, 44% of Caregivers Are Stressed, 43% Are Overwhelmed and 42% Are Burned Out at Work. Employers Must Recognize The Challenges Facing This Employee Cohort, Especially Asy Are a significant portion of Today’s WorkForce – 73% of Employees Say they those Hold Some Caregiving Responsibility.
While Offering Childcare Benefits and Expanding Paid Parental Leave isn’t new, and many employers have Made Strides to Support this Cohort, There’s Still a significant gap between employed impact by Caregiving Duies and the Level of Care Provided To This Group. Eighty-Four Percent of Employees Say Caregiving Responsibility for An Adult Family Member or Friend Had a High Impact on them, While 67% of Employers Believe they are Providing Those Individuals With Adequate Care.
Employees who Feel Cared for by their use are 1.5x More likely to Feel Happy, 1.2x More Likely to be Productive and 1.3x More Likely to Be Loyal at work. Employers can close this gap by Increasing Support for Caregiving Employees, Improving Business Outcomes in Stride.
To Bridge the Gap Among Caregivers in the WorkForce, Employers Are Focusing On Delivering Support in Critical Moments and Prioritizing Communicating The Benefits that can provide tangible help at those stages.
Addressing High-Impact Caregiving Experiences Boosts Talent Outcomes
Metlife’s Research Shows that Moments Associated With Caregiving Are Among the Top Life Experiences Impact TODAY’s Workforce. However, across these experiences, included a child struggling at school, caregiving responsibility for an adult family member or friend, pregnancy and growing a family, employment-provided care often fals shorts shorts.
For Employers, Understanding The Needs of Caregivers, the Impact of specific Life Moments and Effectively Showing Care Can Go A Long Way in Shaping An Employee’s Experience At Work, Promoting Holistic Well-Being, and Ultimately, Boosting Talent Management Outcomes-IE, Higher Employee STATE, REDUCED Turnover, Increased Productivity and Increased Promotion Rates.
Offering Benefits Around Managing Caregiving Gives Employees Peace of Mind
Perhaps Unsurprisingly, Caregivers are interested in benefits that can help make their day-to-day Lives More Manageable, included Childcare (73%) and Eldercare (76%) Benefits. Moreover, Many CAREGIVERS are interested in benefits that provides the ability to take time with work, included Paid (95%) and apaid Leave (78%).
Tangible Resources like these can help Employees Balance Competing Work and Caregiving Duties Throughout the Week and Empower them to Take Necessary Time Away from Work to Rest and Recuperate, avoiding burnout.
There are also traditional benefits that can help Caregivers Manage Their Time and Costs in Less Direct But Often Just as Impactful Ways. For Instance, 82% of CAREGIVERS are interested in Legal Services, so a cost-effective benefit that can support employed navigating legal matters would be providing access to informative resources and a network of pre-qualified attorts at a fixed cost.
This can be Particularly Useful for Caregivers, Who Often Face Complex Legal Situations, Such as Reviewing Nursing Home Agreements, Managing Estate Plans Or understanding Medicare/Medicaid Documents. These Voluntary Benefits also Provide Emptyes Peace of Mind, Knowning they have the Resources to Navigate Such Circumstances.
Teaching Managers How to Showcase Benefits and Resources Builds A Care-St Approach
When managers consistly deliver care, employed are More Than Twice As Likely to Feel Cared for Personally. However, Many Managers agree that Key Barriers Exist, included a Lack of Resources (39%) and Training (38%), That Keep Them from Effective Demonstracting Care.
For Example, Only 18% of Employers Say Their Managers Are Well-Equipped and Comfortable Discuss Benefits With Their Direct Reports. With benefits being so essential, employers are educating managers on benefit options and How to Effectively Highlight Them to Employees.
In addition to improving their understanding of benefits offerings, employers can also empower people managers to check in with employed on how they can best support them and provide genuine, non -intrusive empathy. This is important, as there are Key Moments, Such as Growing A Family, When Employees who Didn’t Feel Cared for Said They Could Have Been Made Aware of Helpful Benefits (38%) and that their Manager Could Have Been More Flexible when they their
Leveraging these Strategies Can Help Employers Deliver Support to Caregivers in Ways that Effectively Demonstrate Care when and where they need it most. Taking A Care-Sit Approach With Every Employee Group-From Recognizing Work and Life Moments that Most Most to Addressing the Driving Care Gaps In Those Situations-Will Ultimately Foster Happier, More Efficient Workplaces.
Unless OtherWise indicated, all data in this article is from Metlife’s 2024 Us Employee Benefit Trends Study.
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