Access to caregiving benefits offered by US
employers has increased nationwide since AARP and S&P
Global's 2020 report; there is more to be done, however,
particularly for adult caregivers.
WASHINGTON and NEW
YORK, May 16, 2024 /PRNewswire/ -- New analysis
of a survey conducted in 2023 by AARP and S&P Global shows
that the unpredictable nature of caregiving for an adult is among
the biggest stressors that caregivers face:
- 67% of family caregivers have difficulty balancing their jobs
with caregiving duties.
- 27% of working caregivers have shifted from full-time to
part-time work or have reduced hours, 16% have turned down a
promotion.
- 16% have stopped working entirely for a period of time — and
13% have changed employers — in order to meet caregiving
responsibilities.
Further, the report highlights that as the nation's number of
older adults 65-plus is projected to surpass the population of
children by 2030, US employers must continue to implement policies
and benefits that are friendly and supportive of adult caregiving
to retain this critical segment of employees in the workforce.
To understand caregivers' experiences in the workplace and the
significance of employer benefits for balancing work and family
care obligations, AARP and S&P Global surveyed 1,200
self-identified caregivers who work full-time or part-time at large
US companies (with more than 1,000 employees) and provide at least
six hours of care each week to an adult.
Highlights from the Working while caregiving: It's
complicated report include:
- 80% of respondents agree that companies were more understanding
of childcare issues than adult caregiving responsibilities;
this is particularly the case among caregivers who have an under-18
child in the home and therefore have recent experience of both
situations. Caregivers without children reported less satisfaction
with company support than caregivers with children — 69% versus
89%, respectively.
- Remote workers were more likely to feel penalized or
discriminated against at work because of caregiving
responsibilities compared to in-office or hybrid workers — 49%
versus a combined average of 29%. This may reflect employer
challenges in assessing and engaging with remote employees'
work-life needs.
- Among working caregivers providing more than 21 hours of care a
week, 37% are experiencing significantly increased difficulty due
to inflation. For those providing fewer than 10 hours of care, 25%
say inflation has made providing care significantly more
difficult.
Previous AARP research shows that of the nearly 48 million
family caregivers in the US, 61% are working while juggling
caregiving responsibilities, including assistance with daily living
activities, medical or nursing tasks, coordinating services and
supports, transportation, shopping, and serving as an advocate for
their care recipient. Most family caregivers provide at least 20
hours of care each week, equal to an unpaid part-time job,
according to AARP.
"As the backbone of America's long-term care system, providing
$600 billion every year in unpaid
labor, family caregivers need and deserve greater support from
their own employers," said Susan
Reinhard, Senior Vice President and Director of AARP Public
Policy Institute. "As our population ages, it's critical that
employers support family caregivers in the workforce with the
policies, such as paid leave, that can ease their everyday
burdens."
"Despite the progress observed since 2020, the latest data shows
the majority of employees with adult caregiving responsibilities
continue to face barriers at balancing work and caregiving
obligations and need greater support from employers through
enhanced benefits and policies to stay engaged in the workforce,"
noted Alexandra Dimitrijevic,
Co-chair of S&P Global Research Council. "Employers can
help by paying forward-looking attention to employee needs and the
demographics shift of the workforce in the coming years."
Since AARP and S&P Global's last report in 2020, employers,
having become attuned to the needs of working parents over the past
decade and especially during the pandemic, are now moving from
awareness to action in providing support for employees with adult
caregiving responsibilities.
According to the new report, access to a flexible work schedule
at the time of caregiving increased from 32% in 2020 to 45% in
2023. Additionally, the availability of caregiving policies or
benefits increased in every category except unpaid leave.
However, employers can do more by providing additional caregiver
support. The report identifies industry best practices that
companies can take to support caregivers, including:
- Offer and support flexible schedules and flexible work
locations (hybrid/remote).
- Offer employer-supported access to support groups, career
coaching and financial advising resources.
- Offer paid leave specifically for caregivers and/or flexible
leave that can be used to help with caregiving duties.
- Host free sessions to highlight how caregiving employees
can optimize employer benefits and policies, as a way to address
the lack of awareness in using benefits.
- Ask senior leaders to share their stories of how they have used
the caregiver-supportive benefits and policies, signaling to both
people managers and their teams that they are encouraged to use
them.
- Train people managers on caregiver-inclusive managerial
practices. Ensure managers are aware of caregiver-supportive
benefits and policies and message to their direct reports that it
is safe to use them all without incurring career risk.
- Start or support an Employee Resource Group for parents and
caregivers or create a caregiving initiative across all ERGs.
To view the full report, visit:
www.spglobal.com/en/research-insights/featured/special-editorial/working-while-caregiving
About AARP
AARP is the nation's largest nonprofit,
nonpartisan organization dedicated to empowering Americans 50 and
older to choose how they live as they age. With a nationwide
presence, AARP strengthens communities and advocates for what
matters most to the more than 100 million Americans 50-plus and
their families: health security, financial stability and personal
fulfillment. AARP also works for individuals in the marketplace by
sparking new solutions and allowing carefully chosen, high-quality
products and services to carry the AARP name. As a trusted source
for news and information, AARP produces the nation's largest
circulation publications, AARP The Magazine and AARP Bulletin. To
learn more,
visit www.aarp.org/about-aarp/, www.aarp.org/español or
follow @AARP, @AARPenEspañol and @AARPadvocates on social
media.
About S&P Global
S&P Global (NYSE: SPGI) provides essential intelligence. We
enable governments, businesses and individuals with the right data,
expertise and connected technology so that they can make decisions
with conviction. From helping our customers assess new investments
to guiding them through ESG and energy transition across supply
chains, we unlock new opportunities, solve challenges and
accelerate progress for the world.
We are widely sought after by many of the world's leading
organizations to provide credit ratings, benchmarks, analytics and
workflow solutions in the global capital, commodity and automotive
markets. With every one of our offerings, we help the world's
leading organizations plan for tomorrow, today. For more
information, visit www.spglobal.com.
Our People First philosophy is at the core of how we support
our employees. We are committed to helping our people live their
best life — both inside and outside of S&P Global. For our
comprehensive benefit policy for our US employees, visit
https://spgbenefits.com/benefit-summaries/us.
MEDIA CONTACTS:
Ilse
Zuniga, izuniga@aarp.org,
202-344-9132
Madison Daniels,
mdaniels@aarp.org, 202-531-9026
Nadja Jiang,
nadja.jiang@spglobal.com +44 7974 044522
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content:https://www.prnewswire.com/news-releases/new-us-workforce-report-nearly-70-of-family-caregivers-report-difficulty-balancing-career-and-caregiving-responsibilities-spurring-long-term-impacts-to-us-economy-302148161.html
SOURCE S&P Global