UrbanSitter’s Post

How are healthcare workplaces supporting their double duty caregivers?

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

It's Complicated: Coordinating Medicare and Employer Health Plans Reaching age 65 is an important turning point for many Baby Boomers—whether they are retiring from work or not. If they remain employed, Baby Boomers have the added complexity of factoring Medicare into their employer-provided healthcare decisions. Employers also need to understand the challenges of coordinating Medicare and individual employee circumstances with employer-provided health plans. Take this opportunity to hear from Justin White with Senior Health Services in a half-day seminar where he’ll discuss Medicare, the challenges of coordinating benefits, and how to avoid common pitfalls. Learn more and register today https://ow.ly/4ipl50Punbl . . . #hrhouston #hr #humanresources #HRandMedicare #Medicare #medicareforthoseworkingpastage65 #hrseminar #hrcontinuingeducation #shrmcertification #shrm #shrmcp #shrmscp

It's Complicated: Coordinating Medicare and Employer Health Plans Reaching age 65 is an important turning point for many Baby Boomers—whether they are retiring from work or not. If they remain employed, Baby Boomers have the added complexity of factoring Medicare into their employer-provided healthcare decisions. Employers also need to understand the challenges of coordinating Medicare and individual employee circumstances with employer-provided health plans. Take this opportunity to hear from Justin White with Senior Health Services in a half-day seminar where he’ll discuss Medicare, the challenges of coordinating benefits, and how to avoid common pitfalls. Learn more and register today https://ow.ly/4ipl50Punbl . . . #hrhouston #hr #humanresources #HRandMedicare #Medicare #medicareforthoseworkingpastage65 #hrseminar #hrcontinuingeducation #shrmcertification #shrm #shrmcp #shrmscp

Several key findings from a recent report by Harvard Business School's Project on Managing the Future of Work show not only a compelling case for caregiving benefits, but a tangible return on investment for companies who invest in them. ✳ Nearly 66% (2 out of 3) employees with caregiving responsibilities report that access to care benefits like Wellthy help them stay better engaged on the job; ✳ Conservatively, companies that offer caregiving support are likely to see a reduction in turnover by at least 5-6%. Given the expansive costs of replacing employees, employers see a more than 2 to 1 ROI just on retention alone from care concierge benefits that support working caregivers; ✳ Against a backdrop where caregiving responsibilities are now the number two reason why employees exit the workforce, more than 30% of employees say that Wellthy has helped them avoid taking a leave of absence or leaving the workforce entirely; ✳ Every decade of an employee’s career brings different care challenges, stressing the need for benefits like Wellthy that accompany employees with care support spanning all phases of life. Read more here on how caregiving benefits help create thriving workplace cultures, and how they're delivering a substantial return on investment for employers who offer them to their teams. #HR #futureofwork #caregivingbenefits #familycaregiver #roi https://lnkd.in/eg8PSwu7

Many of my followers think of me as a thought leader and innovator in the "caregiving space." That is true, but many are unaware that I was a C-Suite executive at one of the largest tech companies in the world. My industrial transformation experience that included redefining the workforce and employee "brand" gives me a unique lens into what is happening around us! We are in the midst of the largest industrial transitions in 100 years. That includes having to redefine our expectations of family care. Yet, my passion about the subject is driven by my personal story. My business acknowledges short term crisis and longer term healthCARE to home transitions that we all must make. As more employers are understanding the broader implications to the caregiving and work collision, they are looking for solutions that protect employees jobs and careers (skills) and expect the healthcare to home efforts of the healthCARE industry to build their own workforce. When we build greater independence at home, employees can be at their job of choice, longer. Every executive I speak with says the same thing "I never thought about it that way." Then they start to formulate a C-Suite plan. Be bold, start addressing the root cause of the issue- this is not 1970. Caregiving ideology needs transformation, be a leader, this is an emerging care economy community.

Gone are the days of one-size-fits-all employee benefits. Thank you to Leader's Edge Magazine for highlighting a major shift in employee expectations, and for including Frame and our CEO, Jessica Bell van der Wal, in the conversation. Today's workforce demands personalized support, and Frame is at the forefront of delivering it. Investing in benefits like Frame can lead to: - Increased talent attraction and retention - Boosted employee morale and overall satisfaction - Potential cost savings by addressing family building challenges proactively Ready to reimagine employee benefits for the modern workforce? Reach out to us about how Frame can empower your employees and support their family building goals. #employeebenefits #benefitsevolution #futureofworkbenefits #fertilitysupport

One challenge we often hear from HR execs trying to implement caregiving benefits is that it's hard to prove the return on investment (ROI). Thankfully, one of my favorite Harvard Business School professors Joseph Fuller published groundbreaking research 2 weeks ago full of data quantifying that ROI. He used several years of data collected from over 100 clients of one of our portfolio companies, Wellthy. His paper is worth a read. A few takeaways: 1 - 38% of people who report leaving the workforce due to caregiving responsibilities are MEN 2 - 50% of people who leave are senior leaders or execs. These are valuable people who are expensive to replace. 3 - Rule of thumb is it costs at least 50% of the salary of a role to replace it. At that rate, a caregiving benefit like Wellthy would only have to reduce your company's turnover rate by 1 point it to have a positive ROI. Joe estimates the actual reduction in turnover that is experienced is more like 5 or 6 points. At those levels the ROI is over 200%. Check out the report here: https://lnkd.in/eWxYWz6J