Due to traditional gender norms, women often carry the heaviest caregiving responsibilities. Caregivers are more likely to report being stressed, to have worked while feeling unwell, are most likely to experience financial hardship over medical expenses and to suffer because of work-life balance pressures.

Martine Ferland, Mercer’s CEO, says that by supporting caregivers, employers can help retain current employees–particularly women–and attract new talent. She says that nearly six in 10 caregivers report being less likely to change employers based on the health and well-being benefits they provide.

A costly mismatch

Two-thirds of caregivers do not feel seen and understood by their employer, and 70% don’t believe their employer has services to support them, according to Alex Drane, the CEO of ARCHANGELS, a company that supports caregivers. She draws on government studies as well as her own research. But among those who do know of available services, some 60% are satisfied with their jobs.

The TIAA Institute recently scrutinized the financial aspects of caregiving in a report that made some stark findings. Many employed caregivers miss work (up to 12 hours per month), reduce their work hours, refuse promotions, or leave the workforce altogether to meet family responsibilities, Mary Naylor, the head of Caregiving NOW, a program of the NewCortland Center at Penn’s School of Nursing and a principal author of the report, pointed out. Additionally, uncompensated expenses average more than $ 7,000 a year. All this can have a major impact on retirement readiness.

In addition to traditional workplace problems, caregivers–like many Americans–have to deal with a healthcare system that is difficult to manage and increasingly expensive.

The demand for family caregiving is growing, as more complex health care is delivered at home and the availability of paid caregivers decreases. The Coalition to Transform Advanced Care (C-TAC), an alliance of some 200 health systems, companies, and nonprofits aiming to improve care for people facing serious illness, and the Cigna Foundation tracked website conversations and found that caregivers struggle with a lack of knowledge about the diseases they may be caring for and how to cope with the demands of caregiving in general, C-TAC CEO Jon Broyles told me.

Here’s what some working caregivers had to say:

“I take care of my mom and my work schedule lets me do most of the things she needs but not all. I always tell myself it’s not about me. It’s about being the best I can be to take care of her.”

“I do feel resentment. I want to get more support. It’s too much to do alone. Sometimes I don’t even tell myself when I am having a hard time. We are hidden warriors.”

“I took care of both my parents at the end of their lives and was a mom at the same time. It was exhausting and I am still not recovered…I am starting to do caregiving for my aunt.”

“I love helping family. It’s a privilege and blessing. We all need to help each other. I’m glad (my employer) is doing this…if we talk about it, it has to get better for everyone, right?”

“I know I’d be totally lost in this world of dementia if it weren’t for my support groups, free webinars, and respite grants to help pay for breaks.”

Solutions abound–but remain unused

With all this stress–which may be hidden because caregivers often don’t identify themselves–there’s a lot that employers can do to support workers and enhance job satisfaction and productivity.

• First, as Alex Drane points out, “Be sure to let caregivers know what the company already has in place. Many employers don’t realize how many resources they already have. Just helping employees know what is available has a real impact.” One study showed that while 89% of surveyed employers offer some type of caregiving resources, 59% of workers were unaware of them and only 32% had taken advantage of them.
• Mercer suggests offering flexible working arrangements, such as flextime, alternative shifts, compressed workweeks, reduced schedules, and job sharing.
• Reframe retirement planning to incorporate longevity and the likelihood of caregiving expenses. Surya Kolluri of the TIAA Institute espouses the concept of “longevity literacy” and its role in retirement savings.
• Assist employees with their emotional needs. For example, provide the means to establish support groups and navigation assistance, including meeting space and ways for group members to communicate and coordinate scheduling.
• If valuable employees do leave because of family responsibilities, consider helping them to return once their caregiving is completed. The Society for Human Resource Management calls these “returnships.”

As former first lady Rosalynn Carter once said, “There are only four kinds of people in the world–those who have been caregivers, those who are currently caregivers, those who will be caregivers, and those who will need caregivers.”

That’s the whole story–and why this issue is so important.

Bill Novelli is a professor emeritus at the McDonough School of Business at Georgetown University. He was CEO of AARP and at Porter Novelli, the global PR firm. His latest book is Good Business: The Talk, Fight, Win Way to Change the World.

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