The “sandwich generation” is the generation of people currently faced with caring for both their children and their elderly parents. As baby boomers quickly become more needful of elder care in Leucadia and throughout the country in order to live safely and comfortably, their adult children, who often have children of their own, find themselves stretched very thin between their many caregiving responsibilities. A recent article written by Dr. Alexis Abramson, appearing on the news website The Huffington Post, explores an interesting dynamic of this situation: the effect of elder care on the jobs of caregivers.
The bottom line is that when an employee must balance his or her job with home responsibilities and the increasingly detailed care of an aging parent, productivity and effectiveness suffer. Many families find it difficult to afford elder care due to the expenses of raising children. Some statistics highlight this effect:
* A survey by MetLife found that work lost to caregiving responsibilities adds up to about $34 billion each year.
* In addition, time spent by employers accommodating employees’ needs to provide care cost another $800 million.
* Most adults who provide care to an aging parent spend at least 20 hours each week doing so–the equivalent of a second part-time job.
* Thirteen percent of those adults spend at least 40 hours each week providing care.
Obviously, this high level of caregiving has an impact on business and affects not only a company’s profit margin but, more importantly, the well-being of its employees. Some other statistics cited by Dr. Abramson indicate that a majority of employees providing care describe themselves as having poorer diets and exercise routines than before they began caring for elderly loved ones. Paying for caregiving can be expensive, as well; the estimated average cost of elder care for older adults is $5,500 per year per care recipient. Retirement funds, savings accounts, and other financial planning tools are all affected by these expenses.
Fortunately, some companies have begun addressing these concerns by including elder care in their benefits packages. By assisting with medical costs and making it possible for workers to afford in-home care programs, they hope to take some of the burden off their employees and allow them to distribute their efforts more effectively. Hopefully, more businesses will follow this example, working with employees who have elderly parents as they seek to provide their aging parents with excellent elder care in Leucadia and elsewhere while fulfilling their responsibilities at work and at home.
Originally posted 2011-11-18 08:30:20.