Wellthy’s Post

The impact of care on the workforce is one of the most profound stories playing out today.  More than 1 in 5 employees are balancing full-time jobs with caregiving responsibilities, and Millennials have now surpassed Gen X’ers as the largest cohort in today’s workforce with caregiving responsibilities. And they’re balancing caregiving responsibilities on two ends — managing care for aging parents, while navigating childcare and raising teenagers. As more and more employees see themselves squeezed by burgeoning care needs, it requires us to think differently about employee wellbeing and especially caregiving benefits. They can no longer be seen as “nice to have” benefits, but rather critical business imperatives for employers that can retain talent, cut down on leaves of absence, and create thriving workplace cultures.  In this piece for BenefitsPRO, I joined with Matthew Darula, Head of Product and Digital Offerings at Guardian Life to discuss how benefits advisors can help employers address the caregiving needs of their employees in several distinct ways: 1) By making a compelling business case for caregiving support, relying on the incredible research and concrete data now available; 2) Helping clients look beyond traditional product basics and toward more impactful benefits—leveraging carriers and other partners for additional value-added solutions; 3) Quantifying the impact of caregiver-friendly initiatives—research shows that when done right, caregiver benefits can significantly boost retention, productivity, and engagement. It's a win-win for employees and employers alike. As we approach open enrollment season in just a few weeks, there's no better time for benefits advisors to champion caregiver support.  Check out our op ed on BenefitsPro:

Benefits advisors have a key opportunity to support employers in addressing caregiving challenges, particularly with open enrollment approaching. Think about it - 3 in 4 workers are trying to balance caregiving with their jobs. That's a lot of stressed-out employees. As open enrollment approaches, leading employers are going beyond the basics and offer meaningful benefits that make a real difference. Consider adding options like child disability coverage, which provides financial support and helps keep parents in the workforce. Rather than sending the usual generic emails, share powerful stories from employees who have directly benefited from these offerings. This not only demonstrates genuine care but also underscores the tangible, positive impact these benefits have on both employees and the organization. The numbers back this up - when you support caregivers, people stay longer, work harder, and feel more connected to the company. It's good for everyone. Brokers - reach out to us if you’d like to learn more about Juno!

The latest workplace trend: Companies rethinking (and even expanding) their paid leave policies and child care benefits. Why? Because employees need support, especially when they are doubling up as caregivers. Plus, a new research report from Vivvi and #TheFifthTrimester, "The R.O.I. of Caregiving Benefits," revealed that companies who do offer caregiving benefits to employees actually see an increase in productivity, profit, and retention. (Read the full report here: https://bit.ly/4bYA1lJ So, just a reminder on #EmployeeAppreciationDay, if you want to recruit and retain top talent – expansive and inclusive policies are good indicators to evaluate a company’s culture. #ShowUsYourLeave #ShowUsYourChildCare #childcare #employeebenefits

This report presents findings from an online survey of 1,200 full-time and part-time employees in the US, examining the challenges of balancing work while #caregiving and the impact of supportive #WorkplacePolicies. https://hubs.ly/Q02yrMBZ0 #HR #FamilyLeave #SickLeave

**The World Health Organization projects that the proportion of the world’s population that is over 60 will nearly double from 12% to 22% by 2050.** In a world where working for longer becomes the norm, what can accelerate progress towards a successful age-diverse workplace? And how can businesses support meaningful careers throughout everyone's lifetime — from upskilling/reskilling to family leave policies and more? #longevity #caregiving #futureofwork #aging Full report here 👉 https://lnkd.in/e33upEHb

As an entrepreneur, father, and advocate for parents, I support the work that is being done to raise awareness about the childcare crisis in our country, and I celebrate employers who make smart P/L decisions regarding childcare. My focus is on educating, equipping, and empowering the majority of parents who do NOT work for an employer where investing in childcare will produce a great enough ROI. For most parents, their W2 income is not enough, and they need a better way. On page 29, I wrote "An even bigger issue is that most people don't have a level of income to fund their plan. The good news is if you're reading this information in 2013, you have at least ten years left. The bad news is that most people will wait too long to take action." Now is the time for traditional employees to be a part of the solution. This is why Life Is Rich Global exists! It's why I'm investing time in partnering with women's organizations to understand their goals, assess the current state of those they serve, identify the gaps, and create a custom road map to address the cash flow danger that no one is talking about. Have questions about how we can partner together? Connect with me and send me a DM. We can hop on a zoom or a call.

A staggering 73% of employees hold caregiving responsibilities, yet there's a significant gap in support, according to MetLife's 2024 U.S. Employee Benefit Trends Study. In fact, while 84% of employees say caregiving for an adult family member or friend highly impacts them, only 67% of employers believe they're providing adequate care. Missy Plohr-Memming, senior vice president at MetLife Group Benefits, emphasizes the importance of addressing this gap: "Employers can close this gap by increasing support for caregiving employees, improving business outcomes in stride." By offering childcare and eldercare benefits, companies can not only alleviate stress for their workforce but also boost productivity and loyalty, creating a win-win situation for all. https://lnkd.in/gUQTFakR

What an incredible, beautiful, and NECESSARY body of data from NationSwell. I’ve linked the entire project in the comments below because it’s too important to miss — but THIS graphic is what I will forever be shouting from the rooftops from employers. In case you’re sliiiightly visually challenged like I am (thank you #PeriMenopause) and you can’t quite see the data on this bar graph — here it is: “By investing in childcare policies and programs, employers see a huge return… 😱 Reduce missed work days by 30% (Source: Child Care Aware of America) 😱 Increase retention and attraction of top talent by 55% (Source: SHRM 😱 Increase employee engagement by 60% (Source: SHRM) 😱 Earn an ROI for investing in childcare of 125% (Source: Child Care Aware of America) So yes — employers stepping up to do their part in addressing the childcare crisis in our country is the right thing to do. To be frank — I’m past the point of trying to convince employers that this part is true. But beyond that? It’s GOOD FOR BUSINESS. Let’s say it one more time and another way: IT INCREASES YOUR BOTTOM LINE. That’s why CARRY™ Consulting exists. It’s why I’m spending my time partnering with organizations to take a step back, look at their CURRENT suite of benefits/policies/culture for caretakers (like working parents), identify the gaps, and create a custom roadmap to correct it. Have questions about how we can partner together? Send me a DM. Link to report (seriously — it's beautiful!): https://lnkd.in/e3TtQxhs #workingparents #caretakers #childcareciriss #childcare #workingparent #workingmom #workingmoms

Empowering caregivers is at the heart of modern business support. Here’s how companies are making a real difference: ▪ Flexible solutions: Businesses are meeting employees' real-life needs head-on. ▪ Caregiving Spending Accounts: Employees are accessing funds for essential services. These include: ▫ Backup childcare ▫ Specialized memory care consulting ▫ Coaching for family members with special needs ▪ Widespread adoption: An impressive 63% of companies now offer caregiving coverage. ▪ Diverse support: Coverage extends across various types of spending accounts. This approach showcases a commitment to balancing work and personal responsibilities. It highlights the importance of inclusivity and empathy in today's workplace. How has your employer made a difference in your work-life balance through caregiving support? Share your stories of flexibility and empowerment in the comments below! #CaregivingSupport #EmployeeBenefits #InclusiveWorkplace

This survey sheds light on the crucial challenges faced by employed caregivers, especially those caring for adults. At Grayce, we recognize that all caregiving responsibilities—whether for children or adults—require comprehensive support. It's concerning to see that a significant number of employees have had to reduce work hours, turn down promotions, or even leave their jobs due to caregiving demands. By offering tailored support for all caregivers, companies can not only enhance employee satisfaction and retention but also build a more inclusive and supportive workplace culture. Let's work together to bridge this gap and ensure that all caregivers receive the understanding and resources they deserve. #CaregivingSupport #EmployeeBenefits #Grayce For more insights and actionable steps, check out the full report here: https://lnkd.in/gd9BtffB