Employee Benefit Advisor July 6, 2020
As the coronavirus pandemic impacts the economy, companies are searching for ways to reduce costs. While making greater investments in employee benefits may not be a high priority, now is the time for employers to invest in one specific benefit: caregiving.
Caregiver responsibilities can have a significant impact on employee mental health, and over 80% of employees say caregiving has affected their productivity at work, according to a Harvard Business Review survey. In addition, caregiver related absenteeism costs companies about $5.1 billion each year and can increase a company’s healthcare costs, according to the Family Caregiver Alliance, a caregiver resource group. As the coronavirus pandemic continues, this pressure on employees will only increase as they return to work and struggle...
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