Family Caregiving Costs Employers $33 Billion Annually

Stephen Tweed | June 26, 2007 | Newsroom
WASHINGTON, June 25 (UPI) -- At-home caregiving costs U.S. businesses up to $33 billion yearly in lost productivity as caregivers take time off from work, AARP said Monday.For caregivers with the most intense responsibility, 92 percent said they have had to make major changes to their working patterns; 83 percent report arriving late to their…

WASHINGTON, June 25 (UPI) — At-home caregiving costs U.S. businesses up to $33 billion yearly in lost productivity as caregivers take time off from work, AARP said Monday.
For caregivers with the most intense responsibility, 92 percent said they have had to make major changes to their working patterns; 83 percent report arriving late to their jobs, leaving early or taking time off during the day; 41 percent say they had to take a leave of absence; and 37 percent report having to pare down their jobs to part-time to accommodate their care-related duties.

Moreover, the caregiver’s own health is often at risk, the survey also suggested.
Against that backdrop, the study also found that informal caregivers’ contribution had an economic value last year of $350 billion.

Source: AARP

As leaders in home health care, this information suggests that we need to let more of the major employers in our communities know about the benefits of home health care. One of our home health care clients actually has a home care service that they sell to employers, that will provide non-medical caregivers, or nurses if needed, to care for an elderly person so their son or daughter can go to work as planned.

Employers find that making this investment in home care services for their employees more than pays for itself in savings from lost productivity, tardiness, or absenteeism of valued employees.

What success are you having with employers in your community to provide home care support to their employees? Let us know by adding your comments below.

Stephen Tweed
Stephen Tweed, CSP, began his journey as a business strategist in home health care in 1982. Today, Stephen is among the top thought leaders in Home Care strategy and management. He has worked with top 5% companies from across the US. He is a sought after speaker at from national and state association events.

Related Posts

Extraordinary Transformation: A blueprint for leaders who want to Transform their Organization

June 5, 2024
By Stephen Tweed As a leader in Home Care, are you working on transforming your organization? Are you looking for strategies and insights to grow your business and get ready for the future? I've just finished reading an amazing book by my friend and professional speaking colleague, Dr. Nido Qubein. "Extraordinary Transformation: An Entrepreneurial Blueprint…

Stephen Tweed’s Podcast and Webinar Appearances

May 30, 2024
As a significant Thought Leader in the Home Care industry, Stephen Tweed is frequently invited to be a guest on industry podcasts and webinars. Here are links to some of Stephen's recent appearances. May 2024 - "The Power of Peer Groups: How Home Care CEOs Propel the Industry's Growth" Stephen was interviewed by Ruby Mehta,…

The Forces and Trends Shaping the Future of Home Care.

May 14, 2024
By Stephen Tweed What will the Home Care Industry look like in five years? Over the past two decades I've been actively engaged in the Home Care Industry, and monitoring the Forces and Trends that are shaping the future of our industry. While much of the growth of Home Care is driven my the entrepreneurial…