November is a month of gratitude and reflection, and it’s the perfect time to honor the caregivers in our lives. National Family Caregiver Month, observed in November each year, provides us with the opportunity to appreciate the dedicated individuals who provide care and support to their loved ones, a crucial role in our society. On average, caregivers provide 23.7 hours per week of care, with 21% of caregivers reporting they spend more than 41 hours per week providing care.

Caregivers are the foundation of their families, supporting their loved ones as children, during times of illness, disability or aging. Caregivers are the fastest growing employee group, as an estimated 73% of employees have some caregiving role. Here’s why it’s essential to highlight their responsibilities:

• Emotional Support: Caregivers not only provide physical assistance but also offer emotional support. Their presence can significantly improve the mental and emotional wellbeing of those they care for. 4 in 10 caregivers consider their situation to be highly stressful, putting them in a position to ask for extra support for themselves in that area.
• Skyrocketing Costs: Since 1990, the cost of childcare has increased 220%, with the average cost sitting at $10,600 for one child in 2021. In some high cost of living areas such as Washington D.C., that cost doubles to over $24,400 per year. The high costs of childcare often leave couples no choice but to both work full time. In married couples who have children, 65% have two parents who were employed.
• Preserving Family Bonds: Caregivers can serve as a bridge, bringing families closer together. They help preserve and strengthen family bonds.

In the workplace, caregiving can significantly impact an employee’s productivity and focus. When employers acknowledge the caregiving responsibilities of their employees, it fosters a sense of loyalty and commitment. Caregivers appreciate employers who understand their challenges and allow them to fulfill their commitments. Without support, employees may seek employment elsewhere. It’s essential to offer assistance and flexibility to reduce turnover rates and support work life balance.

Employers can take several steps to support caregivers in their workforce:

• Flexible Work Arrangements: Offer flexible schedules or remote work options to accommodate the caregiving responsibilities of employees
• Employee Assistance Programs (EAP): Provide access to EAPs that offer counseling and resources for caregivers dealing with stress and burnout
• Paid Leave Policies: Consider implementing paid caregiver leave policies that allow employees to take time off to care for loved ones without financial strain
• Educational Resources: Offer access to educations resources and training on caregiving, including information on available local community resources
• Open Communication: Create a culture of open communication where employees feel comfortable discussing their caregiving responsibilities and seeking support when needed.

1 in 5 employee caregivers say they don’t talk about their caregiving responsibilities and stress because they don’t believe their employers care. Adding caregiver benefits to your benefits package can be a great way to show support for all of the caregivers in your workforce. Caregiver support can provide workshops and support groups to provide respite for individuals providing care for aging or disabled parents, children and friends. From childcare to caring for elders, check out our partners in the PlanSource Partner Marketplace Caregiver Support category.

National Family Caregiver Month reminds us of the invaluable role caregivers play in our lives and in our society. Employers have a unique opportunity to recognize, appreciate and support caregivers within their workforce. By doing so, they not only create a more compassionate and positive workplace, but also reap the benefits of increased employee loyalty, productivity and retention. Celebrate the caregivers in your team this month and every month!

Talk to an advisor today to explore adding caregiver support benefits to your benefits package.