Backup Care has fast-become a critical component of an employee benefits package, because it responds to our most predictable predicament: life is unpredictable. Especially when it comes to caring for others. And when we don’t have the tools to respond, it costs everyone.
Backup Care enables your employees to find coverage for their loved ones when their regular care plans fall through. With Care@Work, Backup Care extends to a network of qualified, highly-vetted child care centers, as well as in-home care options for children and adults.
Here are six reasons Backup Care is a must-have benefit in today’s workplace:
- Absenteeism and presenteeism cost big bucks
Organizations are leaving money on the table. U.S. businesses alone forgo more than $33.6 billion annually due to lost productivity caused by caregiving-related absenteeism. Some estimates put presenteeism as the chief culprit, with 10x more lost than absenteeism.
- Work is unpredictable – wait a minute, so is life
We require that our employees work in a fluid environment, where we measure success and build company culture around being nimble, forward-thinking and resilient to change. Through leadership, team structures and technology, we help employees manage it all at the office. But we’ve fallen short on giving employees enough comparable supports to help them navigate that same reality at home.
RELATED: Employee Stories: The Practical Magic of Backup Care
- The work-life movement means business
While we've made strides over the last decade in acknowledging the complexities of work-life integration, are we any less stressed, or better supported? More than 50 percent of working parents find it difficult to balance responsibilities between work and home. And they're leaving jobs because of it. In fact, a majority of Millennials would leave a higher paying job for one that provides them with a healthier work-life balance.
RELATED: Survey Says: “Kids Are a Company’s Greatest Competition”
- The Millennial workplace population is growing – along with their care demands
According to EY, by 2025, 75 percent of the global workforce will be Millennials. Not only are they having children, they’re also starting to care for aging family members. There's already an estimated 20 percent of sandwich generation employees under age 40, and the numbers keep growing. We’ve got to have mechanisms in place to keep this "sandwiched" workforce majority supported.
- Your employees are flat-out asking for this benefit
Results from the Care.com 2017 Cost of Care survey revealed that while 44 percent of working parents say their employer seems to care about their child care needs, an overwhelming majority – 85 percent - wish their employer offered child care benefits, such as discounted child care and access to Backup Care. The need is real, as is the desire for employers to play a leading role in providing care support.
- Everyone wins when given the tools to perform at their best
Happier, less stressed, more satisfied employees make for more productive employees. One study put the spike in productivity at 10 percent. And the Women in the Workplace 2017 report from McKinsey and LeanIn.Org, revealed that supportive work-life benefits, including backup child care, was common among top-performing companies. Backup Care is good for families, good for businesses, and good for the economy.
Backup Care answers to some of our biggest workplace challenges. It’s filling a critical role in combatting loss of productivity, while boosting organizational profits. It’s enabling more authentic work-life integration, as it answers directly to our employees’ realities. And it’s promoting better workplaces, happier households, and more fulfilled individuals. Those aren’t just things we want for the future. It’s what we all need now.
HR Leaders Also Read:
- We Can't Stop a Government Shutdown, but Backup Care Can Protect Our Employees When Care Plans Fall Through
- Employee Stories: Backup Care's Got My Whole Family's Back
- How Akamai Made Backup Care a Building Block for Diversity
- What's the Secret to Attracting Top Talent? Taking Care of Their Kids
- The Most Compelling Work-Life Stats of 2017