EMPLOYEE BENEFITS
US employees struggling with elder care
Research from the Society for Human Resource Management (SHRM) in the US indicates that more and more people are caring for ageing relatives, and that this often affects employee productivity.
The survey of human resource professionals suggests that employee expectations regarding elder care benefits have increased, and, as a result, most of corporate America expects the costs for these benefits to increase in the next five years.
One in four employers offer elder care
Elder care has been called the "silent productivity killer" -- all too often, employers are unaware that employees are dealing with elder care issues. The SHRM's 2003 Elder Care Survey indicates that 47% of HR professionals report seeing an increase in the number of employees dealing with elder care issues in recent years. Despite the increase, only 25% of organisations offer elder care benefits.
What's more, HR professionals expect the number of employees caring for an ageing relative to increase in the next five to ten years. "The increasing need for elder care is an inevitability," said SHRM president and CEO Susan R Meisinger. "Employers have an opportunity to either anticipate and manage it in a way that benefits both the employer and employees, or let it smack them in the face a few years from now, dragging down productivity and increasing turnover as a result. Organisations simply can't afford to ignore the cost of this reality."
Impact on productivity
All told, HR professionals estimate that nearly 15% of employees in their organisation deal with elder care issues. But, a significant percentage of respondents witnessed employees who missed a full day from work (59%), encountered work day interruptions (44%) or stress-related health problems (29%). As many as 16% of all respondents said they had experienced turnover or attrition due to elder care issues.
Employer response
Nearly a third of HR professionals "agreed" or "strongly agreed" that employers have an obligation to provide resources and assistance for employees facing elder care issues.
But the biggest challenge is cost. Nearly 40% said elder care benefits are too costly for their organisation, and a third felt there would not be enough employees utilising elder care benefits to justify changing current benefits packages.
Want to know more?
Title: 2003 Elder Care Survey, Society for Human Resource Management.
Availability: Contact the Society for Human Resource Management, 1800 Duke Street, Alexandria, Virginia 22314, USA, tel: +1 (703) 548 3440.
The Society for Human Resource Management (SHRM) is the world’ s largest association devoted to human resource management. Representing more than 175,000 individual members, the Society's mission is to serve the needs of HR professionals by providing the most essential and comprehensive resources available. Visit SHRM online at www.shrm.org.
Posted 16 December 2003