SMAA CBO for Business

A crisis is brewing in the workplace as the number of adult children caring for a parent has tripled in the past 15 years and most family caregivers (62%) are in the prime working age of 25-45 years.

In Maine, the state with the oldest median age in the nation, the pressure on caregivers, their families, and their employers is significant. Ultimately such caregiving responsibilities can negatively impact the bottom line as employees grapple with the struggles of balancing both work and caregiving.

Some Interesting Facts

According to an AARP report "Understanding the Impact of Family Caregiving on Work", one study showed that employers paid about 8% more in health care of caregiver employees compared with non-caregivers, potentially costing US businesses $13.4 billion per year.

In a MetLife Caregiving Cost Study titled "Productivity Losses to U.S. Businesses", it is estimated that the cost of lost productivity of a full-time working caregiver to an elder to U.S. Businesses is $33.6 billion per year or $2,110 per employee. In the same MetLife study, research found that companies can realize a $3 to $13 return on every $1 invested in caregiving benefits program.

With an aging workforce, the need to educate and support the shifting employee population with information on Medicare, the creation of advance health care directives, and the importance of wellness programs is increasingly important.

SMAA Responds with a Helping Hand for Employers

While employers may think they have these challenges tackled with EAP Programs, SMAA believes the need for local solutions is critical. As a true community partner, SMAA is ready with solutions to support our local business community by working directly with employers or their EAP programs. The good news is, as a non-profit any fees paid to SMAA go directly back to the programs and communities we serve. It is a win-win for employers, employees, and the communities we live in.

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