Smart Benefits: Does Your Company Care?

Monday, April 01, 2019

According to the Family Caregiver Alliance, over one in six employees working full or part time report helping with the care of a disabled or elderly family member or friend.

Since juggling these two roles can impact productivity and retention at work, many companies are attempting to alleviate the stress with caregiver benefits.

While employee assistance programs and referral services are common offerings, some employers are going a step further by providing additional benefits that will allow workers to better balance both their work and home life responsibilities – creating a culture of caring in the process.

If you’re thinking of adding caregiving benefits to your package, aligning your offerings with what employees want is key.

Consider some of the most-utilized options among eligible employees according to a new report from Harvard Business School called “The Caring Company”:

Personal Time Off or Other Paid Leave: 55% of employees use this benefit
Flexible Work Hours: 39% of workers utilize these arrangements
Work from Home/Telecommuting: 34% of employees take advantage of this option
Subsidy for Elder Care Services: 29% of workers use this benefit
Caregiving Provider Referral Service: 29% of employees utilize these services
Seminars/Classes on Caregiving Topics: 29% of staff attend these events
Caregiving Support Group/Networks: 29% of employees use this benefit
Counseling Services: 23% of workers take advantage of these services
On-site or Near-Site Elder Care: 20% of employees utilize this benefit

To find out which benefits will best meet your employees’ needs, ask them. Then be sure to promote the new offerings and regularly review utilization to make sure you’re delivering value.

Rob Calise is the Managing Director, Employee Benefits of The Hilb Group of New England, where he helps clients control the costs of employee benefits by focusing on consumer-driven strategies and on how to best utilize the tax savings tools the government provides. Rob serves as Chairman of the Board of United Benefit Advisors, and is a board member of the Blue Cross & Blue Shield of RI Broker Advisory Board, United HealthCare of New England Broker Advisory Board and Rhode Island Business Healthcare Advisors Council. He is also a member of the National Association of Health Underwriters (NAHU), American Health Insurance Association (AHIA) and the Employers Council on Flexible Compensation (ECFC), as well as various human resource associations. Rob is a graduate of Bryant University with a BS in Finance