It’s common knowledge that home caregivers provide an enormous benefit to their families and society; now a new report suggests that businesses can benefit from acknowledging this and accommodating employees who are home caregivers.
The Report“Determining the Return on Investment: Supportive Policies for Employee Caregivers” was put together jointly by AARP and Respect a Caregiver’s Time (ReACT). The authors take a look at peer-reviewed studies from both industry and the government to see what kinds of benefits (and costs) are associated with policies that tend to be more supportive of home caregivers. For example, flextime and telecommuting policies are generally much more amenable to schedules of home caregivers than situations with strict time schedules that require a constant physical presence in a specific location. When examining the effects of these favorable policies on areas like absenteeism, productivity, retention, and recruitment, it’s clear that they bring benefits for employers with caregivers on their rolls.For example, one study found a 20% reduction in absenteeism among those employees who were granted flextime in a company versus those who were not. A statistical model found that productivity increased by 10% for those with flextime availability.Similarly, telecommuting produced benefits for both employers and employees. The studies found a 12 – 26% increase in a candidate’s likelihood to apply for a job at a company with telecommuting as an option. One economic model suggested that a company’s profit margin would be positively affected by 0.6% for every 1% of the employee base that was allowed to work from home. Overall, businesses offering flextime and telecommuting options saw a return on investment increase between $1.70 and $4.45 for each dollar spent on incorporating these policies.The NeedFor home caregivers, accommodations such as these have a clear benefit, enabling them to maintain their jobs while offering supportive care for loved ones. Since some 60% of our 40,000,000 family home caregivers are employed either full or part-time, this is a clear need.Businesses that can offer accommodations such as these not only can retain valuable employees who might otherwise need to seek alternative employment, but they can also see a substantial return on their investment.Writer, Craig ButlerCraig Butler has been writing on a wide range of topics for more than fifteen years. As the National Communications Director for the Cooley's Anemia Foundation, Craig regularly writes on a range of health and medical topics. Among the many projects he has written for the Foundation is the Cooley's Anemia Storybook, a collection of original short stories for children with the blood disorder Cooley's Anemia. His freelance work has ranged from reviewing moves and CDs to creating entertainment-related stories about baldness, to creating text for comic strips. Craig looks forward to having a dialogue with you about senior care and issues of concern.Christian & Claudia Steiner, OwnersWe hope this was helpful. If you have any questions or if you know of a senior that could benefit from our vast array of home care services, including skilled nursing and wound care please call us at 212-614-8057 or email us. We accept all types of long term care insurance as payment. Best!
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