Typically subsidized by employers, Backup Care is a critical component of a competitive employee benefits package. If an employee’s normal care falls through, backup care gives them an affordable, reliable, and vetted option to care for their children, adult loved ones, or pets to avoid a disruption at work. With backup care, employees typically request care from a vetted network via an app or online portal and only pay for a daily or hourly copay.
Need to build the case for care? Here are five reasons backup care is a must-have benefit:
Missed Work Days Costs Businesses $$$$$$
Companies lose nearly $13 billion a year in productivity on average caused by caregiving-related absenteeism. In a recent Care survey, we asked our customers’ employees what they would do if their regular care fell through and they didn’t have access to Backup Care. Eighty-nine percent said they would miss work to take care of a loved one. It’s simple—when employees know that their loved ones have the care they need, they are much less likely to miss work.
Life Happens … and Sometimes it’s During Work Hours
And when life happens, if an employee has to choose between going to work or caring for the ones they love—there’s really no choice to make. Regardless of your employees’ regular care plans (school, day care, summer camps, nannies, senior day programs, in-home care, dog walkers, etc.), there will be times when those plans change. Schools and daycares close. Caregivers get sick. Employees have to work non-traditional or extended hours. When these unforeseen events arise, backup care ensures your employee can easily tap into a network of vetted caregivers to find care for their child, adult loved one, or pets—or even for self-care.
There Is a Demand for Better Work/Life Balance
While many companies have made strides in recent years in acknowledging the complexities of work/life integration, are employees really feeling any less stressed, or better supported? One in three families are finding it difficult to find reliable, affordable child care. And they’re leaving jobs because of it. In fact, slightly over 30% of workers would leave a higher-paying job for one that provides them with a healthier work/life balance. Access to reliable backup care could mean the difference between an employee who thrives—or one who quits.
The Millennial Workforce Is Growing—Along with Their Care Demands
By 2025, 75 percent of the global workforce will be millennials—and they need help with care. In a recent Care survey of our customers, we asked employees if they were currently seeking child care benefits. Ninety-six percent of those surveyed between the ages of 30 and 49 said yes, along with 62% of those ages 18-29.
Not only do they have children who need care, one in four millennials are also caring for aging family members. Millennials now make up 39% of the sandwich generation, and the numbers keep growing. It’s imperative for employers to offer benefits, including access to senior care, to support this “sandwiched” workforce.
Your Competitors Are Probably Already Offering This Benefit
In the 2022 Future of Benefits report, 33% of HR respondents said they see care benefits as essential, and a similar proportion sees them as offering a competitive advantage. Looking ahead, 63% of respondents reported that they plan to increase their child care benefits, and 41% to expand their senior care offerings. Offering backup care benefits allows companies to be seen as an employer of choice.
Backup care is the answer to one of the biggest workplace challenges. It’s filling a critical role in combatting loss of productivity, while boosting organizational profits. It’s also enabling more authentic work/life integration, and promoting better workplaces, happier households, and more fulfilled individuals.
Check out What to Look for in a Backup Care Program to learn more about what to consider when searching for backup care options. If you want to learn more about how Care for Business can support your company, connect with one of our experts today to evaluate care options for your employees.
