A quarter (24 per cent) of U.S. employees who are in a caregiving role for both a child and dependent adult are more likely to say they want to leave their current job, according to a new survey by Principal Financial Group.
The survey, which polled 500 employers and 500 employees, found 22 per cent of caregivers in the sandwich generation have left a previous job due to caregiving responsibilities. Among all caregivers, they were most likely to be concerned about feeling burnt out at work, their own mental health and well-being and caregiving responsibilities.
Read: How employers can support sandwich generation caregivers
Employees cited life insurance (64 per cent), paid family and medical leave (63 per cent) and disability insurance (52 per cent) as “extremely valuable.” More than two-fifths (43 per cent) of employees reported receiving communication about benefits options from their employers once per year or less.
While more than two-thirds (69 per cent) of employers reported the financial health of their business is growing, both employees and employers agreed the stability of the U.S. economy is an increasing concern. Employees and employers were aligned in ranking the stability of the U.S. economy as a significant concern, second only to economic inflation.
“There are unique opportunities for employers to support those who are caregiving,” said Amy Friedrich, president of benefits and protection at Principal, in a press release. “It starts with understanding your employee population and their wants and needs in a benefits program. With over half of the workforce identifying as a caregiver at some point in their life, feeling financially protected and supported at work is becoming increasingly important.”
Read: U.S. employers increasing family, caregiver benefits: survey