{"id":5614,"date":"2023-01-11T17:18:32","date_gmt":"2023-01-11T17:18:32","guid":{"rendered":"https:\/\/www.care.com\/benefits\/?p=5614"},"modified":"2023-01-11T17:18:32","modified_gmt":"2023-01-11T17:18:32","slug":"why-family-care-benefits-are-essential-in-uncertain-times","status":"publish","type":"post","link":"https:\/\/www.care.com\/benefits\/why-family-care-benefits-are-essential-in-uncertain-times\/","title":{"rendered":"Why family care benefits are essential in uncertain times"},"content":{"rendered":"

When the care crisis peaked during the COVID-19 pandemic and the “Great Resignation,” and more than 4 million people resigned<\/a> and 50% of families left a job<\/a> due to caregiving responsibilities, one message became clear: without care, people cannot work. And when people can’t work, organizations suffer. <\/p>

During those challenging times, employers of all sizes, across every industry, recognized that a small investment in family care benefits—benefits that help employees better care for themselves and their loved ones—can lead to big payoffs in recruitment and retention, employee productivity, and decreasing absenteeism. Now, as we once again enter another chapter of uncertainty with economic shifts, family care benefits are more important than ever. <\/p>

Investing in family care benefits makes good business sense<\/strong><\/h2>

Employers may be feeling pressure to cut back on “ancillary benefits” but it’s important to understand that investing in<\/em> (not cutting) family care benefits is one of the smartest business decisions leaders can make. Here’s why. <\/p>

Seventy-three percent of employees<\/a> have caregiving responsibilities, and more than 80% of employees with caregiving responsibilities report that their caregiving duties affect their productivity at work.  <\/sup>Unless employers support caregivers in the workplace they remain at risk of decreased productivity and costly, unwanted employee absenteeism. <\/p>

While some industries are experiencing workforce reductions, many others are still facing labor shortages—and the war for talent remains high. Since caregivers are a large portion of the labor pool<\/a>, employers can alleviate the talent shortage and close the gap by supporting caregivers.<\/p>

For industries that are affected by workforce reductions, supporting those employees they retain will be critical. Employees who stay on will be expected to do more work with less resources—which can quickly lead to burnout and stress. In order to be productive, present, and focused at work, employees will need to have reliable and affordable care plans in place at home. <\/p>

Yet finding care is not easy—especially as care costs continue to skyrocket and many families face financial hardship. In a recent Cost of Care survey<\/a>, 59% of working parents are more concerned about child care costs now than in years prior. As a result, working parents are taking on a second job (31%), reducing hours at work (26%), changing jobs (25%), or leaving the workforce entirely (21%). ​​Child Care Aware<\/a> further estimates that U.S. businesses lose $16 billion each year as a result of inadequate child care.  <\/p>

How do family care benefits help?<\/strong><\/h2>

Employer-sponsored family care benefits<\/a> offer a low-cost solution to combat costly absenteeism<\/a>, improve workplace productivity, and attract and retain the best talent. Family care benefits can include: <\/p>