Increasingly, Canadians are taking on more care responsibilities for family members and friends with a long-term health illness, disability or issue related to aging. As expected, with the increased responsibility, employees are facing a number of health and related issues that impact the workplace.
As our population ages, it’s inevitable that some employees will need to take on a caregiving role in addition to their full-time jobs. In 2007, Worklife Canada estimated that this phenomenon is costing Canadian employers $2 billion annually in productivity (approximately $1 billion in absenteeism costs and another $1 billion to $2 billion in indirect costs).
With the aging boomer population and increased longevity, many employees have to worry not only about childcare but also about eldercare for aging parents and loved ones.
Much of the recent discussion in the benefits and insurance sector has focused on cost implications such as prescription usage and chronic diseases. While there is no doubt that these issues indeed require focus, effort and innovation, plan members’ needs and wants are sometimes overlooked.
Eldercare and caregiving are increasingly important issues for employees and employers. According to the January 2009 study Balancing Paid Work and Caregiving Responsibilities: A Closer Look at Family Caregivers in Canada, more than 27% of employed Canadians had responsibilities for eldercare in 2009. And this trend is expected to grow, with the boomer and senior […]