Courtney Leimkuhler’s Post

https://lnkd.in/eV3F3kEv So, if you have any reluctance to listening to what we have been promoting, perhaps you need to read this. Harvard Business School research provides the most concrete evidence for how employers' support for caregiving leads to a material return on investment. If you are an employer, why don't you explore affordable options for creating a culture of caregiving within your organization and offer educational and navigational services to your caregiver-employees? I think that by now you might have recognized that I am doing this to help and support; and, I have identified different resources that might be beneficial options for providing caregiver-employee support. Those employers who get on the bandwagon are likely to be the ones that are able to conserve the most talent; and, also financially benefit from not having workplace disruptions and terminations. The data are clear. But you have to take the first steps. I urge you to check out Newgingpartnership.org for information regarding our efforts to support all caregivers, including caregiver employees; and, contact us if you would like to contribute to our efforts, or for assistance with any questions regarding personal or organizational issues at [email protected]. I hope you enjoy the rest of the Memorial Day holiday weekend. #newagingpartnership #caregivingconfidential #caregivingsupport #employeebenefits

The conversation around caregiving challenges in the workplace continues to gain attention as employers are beginning to acknowledge their role in their employee’s health and well-being. In a recent report, Harvard Business School explores how supporting caregiving responsibilities benefits organizations, particularly addressing the challenges faced by family caregivers amidst economic pressures and evolving family structures. We are committed to addressing these challenges by shining a light on the challenges family caregivers face and by advocating for policies like paid family and medical leave. Our goal is to make caregiving more sustainable, enabling family caregivers to support their loved ones without compromising their economic stability. Explore HBS' report to discover how your company can contribute to fostering a workplace that embraces caregiving responsibilities for a better, more supportive workforce. https://lnkd.in/eEenjJzV

Did you know the turnover rate in adult social care skyrocketed to 28.3% in 2022/23, leaving around 390,000 staff members seeking new roles? This high turnover rate not only impacts the quality of care provided but also places considerable strain on budgets due to recruitment and training expenses. To address this issue, check out the latest article by Birdie. It provides essential insights into retaining your care team and empowering a supportive workplace culture. Click the link below to learn more: 👉 https://buff.ly/42VnQSs Let's ensure care teams feel valued, supported, and empowered to deliver exceptional care. #CareTeamRetention #SupportiveWorkplace #HealthcareExcellence

According to a Harvard Business School report, 73% of employees have caregiving responsibilities, a figure expected to rise as the U.S. population ages. The Family Caregiver Alliance states that caregiving leads to significant work-related difficulties, reduced productivity, and increased turnover. This includes “up to an 18.5% reduction in employee productivity” and “an estimated $25.2 billion in lost productivity” in the U.S. economy.

Our latest report: Healthy Outcomes   Covid-19 sparked a sense of urgency about America’s caregiving crisis. Will it translate into systemic change? What will it take to convince employers to drop their longstanding reluctance to offer caregiver benefits?   Currently, many caregivers are left to manage the trade-offs between fulfilling their family responsibilities and going to work. They battle missing work or even leaving their jobs with little acknowledgment or help from their employers. The latest report from the Harvard Business School Project on #ManagingTheFutureOfWork by project co-chair Joseph Fuller provides empirical evidence from real-world examples.   Our analysis confirmed that there is a material return on investment for employers who invest in caregiver support benefits through two primary pathways; by reducing turnover of key employees, and lowering events of absenteeism, or employees missing work to attend to caregiving responsibilities.   In this report, we analyzed archival data on clients of Wellthy, a caregiver support benefits company that has partnered with 140 companies in the U.S., Canada, Ireland, and the U.K., to provide services to about 2 million employees.   Recommendations for Employers: 💡     Understand the systems-wide effect of caregiving costs and benefits. 💡     Gather more information about the workforce’s care demographics. 💡     Revisit job descriptions, career paths, and managerial incentive. 💡     Monitor why workers are leaving or planning to leave. 💡     Foster a culture where caregiving is openly discussed. 💡     Audit current caregiving services and get feedback from employees who use them. Read the full report here: https://hbs.me/4u3hcbvh #caregiving #hiddenworkers #HR #COVID #workforcetrends

The latest #ManagingtheFutureofWork report by my colleague Joseph Fuller provides companies with robust evidence of the positive economic return of providing caregiving benefits for employees. #COVID19 focused attention on the caregiving crisis which will only continue to foster employee absenteeism and low retention rates unless addressed by businesses and policymakers. Read the report here: https://hbs.me/4u3hcbvh #caregiving #workforcedevelopment #COVID19

Thanks Joseph Fuller and team for conducting this important research! It provides some answers to the questions I posed in my research last year on the state of employers' caregiving and bereavement support (👉 https://lnkd.in/gxWnzUAY) and subsequent #talenttales conversation with Lynn DiBonaventura (👉 https://lnkd.in/gm-gkCyF). #caregiversupport #bereavementsupport #employeeexperience #humanresources #designthinking #employeebenefits

Despite the bottom-line incentive, employers have typically left caregiving support out of employee benefit packages. This undercuts the potential contributions of the three-in-four U.S. workers who have caregiving responsibilities. The latest #ManagingtheFutureofWork report, Healthy Outcomes, presents empirical evidence of the economic benefit to businesses and workers, including reducing absenteeism and higher retention rates.   Read the full report here: https://hbs.me/4u3hcbvh #Caregiving #COVID19 #Benefits

Double-Duty Caregivers What happens when health care providers are also family caregivers? Is the health care system thinking about family caregivers? Our paper about Double-Duty Caregivers was just accepted by PLOS. If we are concerned about the current health care workforce read on! Thanks Dr. Ilene Nathanson -- timely As Asia-Pacific Ages, a Caregiver Crisis Looms Employers need to recognize the prevalence of caregiving and the challenges that employee-caregivers face. They are under strain at home and at work, often without adequate care assistance to cover their employed working hours. A deeper examination of the types of care assistance reveals that many employee-caregivers have no care assistance lined up—that is, their dependents are not in the care of another responsible adult during the employee-caregiver’s working hours. Consequently, employee-caregivers are at risk of leaving the workforce, a costly outcome for employers: it’s expensive to find and train replacements. And when employees leave, they take their experience and institutional knowledge with them. Exacerbating the risk, employee-caregivers, because they tend to be ambitious, are particularly valuable to their employers. Read the article https://on.bcg.com/3SssT8n

Do caregiving benefits make a difference for employers and in the lives of employees? The answer is a resounding yes — driven home by new research from Harvard Business School that finds significant return on investment for caregiving benefits. Led by the Project on Managing the Future of Work and Professor Joseph Fuller, the study independently analyzed data from Wellthy’s work with more than 100 clients. Their findings are considerably notable: • Employers that offer caregiving benefits to their teams see big gains in retention — keeping top-tier talent that otherwise might have stepped away from the workforce to focus on care needs at home; • There’s also a direct correlation between caregiving benefits and reductions in absenteeism and missed days or weeks of work for family caregivers, driving better productivity and healthier team cultures All that adds up to better support for working caregivers, better experiences for employers and employees alike, and a notable return on investment for caregiving benefits like Wellthy. Read the full report here: https://lnkd.in/gmmBN2N8 #benefits #caregiversupport #hr #workforcetrends