Thinking about offering caregiver benefits to your employees, but don’t know where to start? Here are four benefits that can help your employees manage the stress, complexity and emotional and financial burden associated with caring for their loved ones.
1. Employee Support Groups – As caregivers struggle to balance their career, families and other responsibilities with the task of caring for their loved ones, they often ignore their own needs, particularly around their mental and emotional health and well-being. Providing a support group where employees can talk to other caregivers can be very therapeutic and offers a healthy release from their daily stressors. These groups can also serve as a venue to share information and best practices that can help caregivers navigate a complex and fragmented ecosystem.
2. Aggregated Local Resources – Nearly 85% of caregivers report wanting more caregiving resources. Unfortunately, these resources and information for caregivers are extremely fragmented. Additionally, many resources are at the local level, which can make it particularly challenging for caregivers who are providing care from a distance. Organizations can provide great value to caregivers by aggregating local resources into existing EAP programs and including referrals to caregiver resources in the community.
3. Discounted Products and Services – Caregivers often experience additional financial stress when caring for their loved ones and can benefit from discounts on caregiving-related services, including meal delivery, transportation, in-home paid caregiving, medication adherence and telehealth services.
4. Specialized 401K/Savings Plans – Many people do not adequately save for acute or chronic health problems that require caregiver support. As a result, many caregivers and their loved ones face financial burdens that they did not anticipate. Company 401K plans and advisors can provide retirement options geared towards caregivers, taking into consideration the often unexpected role that caregivers take on during their peak earning years.