We can’t fix a problem we can’t see, and we can’t know there’s a problem if we don’t ask.
A conservative $33 billion annual drain on U.S. businesses is hiding in plain sight. It’s not turnover, cybersecurity threats, or disengagement. It’s the unrecognized burden of family caregiving in your workforce.
This can affect everyone. It’s been me. It could be you.
Caregiving doesn’t discriminate by age, role, or plans.
An Exponentially Increasing Part of Employees’ Lives
By 2030, all baby boomers will be over the age of 65. They’ve been making up the pool of available family caregivers, and by 2050, the pool will have decreased from 7:1 to 3:1.
With the fastest growing age demographic being people 85 and older, and with the number of medical diagnoses increasing at alarming rates, it’s reasonable that many of your team members are — or will be — struggling.
This has also led to the “sandwich generation” of employees with additional financial, time, and caregiving burdens.
In addition to their professional responsibilities, they are sandwiched in the middle of caring for:
- Their current and future needs
- Aging loved ones
- Children
- Grandchildren
The Hidden Business Impact
More than 73% of employees manage caregiving responsibilities, yet most remain silent, fearing career consequences.
The results include:
- Reduced productivity
- Increased absenteeism
- Higher healthcare costs
- Preventable turnover
All of these can silently impact your bottom line.
When employees leave, you lose valuable institutional knowledge. Replacement costs reach up to 200% of salary for months until full productivity.
Nearly 40% of caregivers retire early or leave due to inadequate support — a reason you may never learn because they don’t self-identify.
The Solution: Normalize Caregiving
Acknowledge caregiving as normal in business and life.
Incorporate it into:
- Company meetings
- Leadership discussions
- Employee resource groups
Create a culture where caregivers can safely self-identify without fear of consequences.
Companies leading in this space retain talent and experience stronger engagement, loyalty, and competitive advantage.
One example is Deloitte. Their family leave policies offer up to 16 weeks of paid time for caregiving, resulting in 40% reduced caregiver turnover and a 2:1 ROI.
The Question Leaders Need to Ask
The question isn’t whether you can afford to address caregiver support.
The question is whether you can afford not to.
FAQs:
How does employee caregiving affect the workplace?
Caregiving responsibilities can affect attendance, productivity, stress, healthcare needs, retention, and an employee’s ability to balance professional and personal responsibilities.
How can employers support employees who are caregivers?
Employers can begin by acknowledging caregiving as a normal workforce issue, creating an environment where employees can safely discuss caregiving responsibilities, and including the topic in leadership conversations and employee support initiatives.
Why don’t employees tell employers that they are caregivers?
Some employees may worry that identifying themselves as caregivers could affect how they are perceived professionally or create negative career consequences.
How can leaders create a caregiver-friendly workplace culture?
Leaders can normalize conversations about caregiving, examine policies and resources available to employees, encourage open communication, and make caregiving part of broader workforce and culture discussions.
