Caregiving Impact Employer Perspective Alzheimer’s disease •Most commonly reported disease requiring care by an employee Chronic Pain As a Corporation •Caregivers are 35-50% more likely to experience chronic pain Promote Health Stroke •5th most commonly reported condition requiring care by an employeeEmployee CaregivingImpact: Diabetes As an Employer As a Payer •Twice as common in caregivers than non-•Lower Productivity caregivers •Presenteeism Work Product Company’s •Absenteeism and Efficiencies Healthcare Health risk behaviors •Smoking is higher among caregivers Cost•Decreased Retention Depression •Risk strongly correlated with caregiving Heart Disease •Three times more common in caregivers 1
Caregiving Impact Additional Perspective Every year, employers assume $13.4 billion in increased health care costs for caregiving employees Lost productivity to U.S. business for caregiving employees is estimated at $17.1 to $33.6 billion annually Cost of replacing experienced workers can range from 50-150% of their annual salary “Aging will make it hard for governments to deal with mounting financial pressures. It may be time to rethink our policies towards work.” – Jean-Philippe Cotis, Chief Economist, OECD My Administrations Middle Class Task Force, led by Vice President Joe Biden, has made supporting family caregivers a priority, and we are working to assist caregivers as they juggle work, family, and financial responsibilities. – President Obama, Proclamation for National Family Caregivers Month, 2010Source:•Mature Market News, “The MetLife Study of Working Caregivers and Employer Health Care Costs” 2010..
ReACT is an employer-focused coalition dedicated to addressing the challenges faced by employee caregivers and reducing the impact on the companies that employ them. ReACT seeks to create a business environment where the unique challenges of caregiving foradults with chronic diseases are understood and recognized by employers to ensure caregiversfeel supported and have the resources they need to better meet their personal responsibilities for caregiving and their professional demands. ReACT engages leading corporations and thought-leader organizations including: Aetna,Cleveland Clinic, Gallup, Georgetown University, Gundersen Lutheran, Healthways, Johnson and Johnson, Mercer, Microsoft, M.I.T Age Lab, MWV, National Alliance for Caregiving, Pfizer, United States Chamber of Commerce, and Alzheimer’s Association
Employee Caregiving and ReACTStructure Mirrors RealityEmployee Caregiving ReACT Organizational StructureNot a simple 1:1 relationship, rather a ReACT is not a formal organization –network of committed individuals rather a loose coalition of committed individuals from companies that understand the issue.Not about 1 issue – about many ReACT representatives are not only HR professionals – but from a wide range of functions within our members’ organizations.Caregiving is not a heroic event around a Executive level support from ReACTbrief crisis, rather it is about an enduring member companies sustains thecommitment. implementation of the vision
ReACT(ions)Create Employer Action 2011 2012 2013 Foundational Research Employer Thought- Leadership • Surveyed 3,500 • “how to” employee • Modeling toolkit caregivers project Employee Employer Impact Solutions Toolkit3 Focus Areas Launch Caregiver Remote Connectivity Technology Pilot Technology Tool Incubate Pilot w/ ReACT Near Finalization Companies’ Anticipated Launch in July employees Amplify
What Employees Need Preliminary Model Higher Driver of Job Satisfaction Highest ROI / Current Key Job Largest Uncapitalized Satisfaction Driving Potential Variables Emotional Distress Employee Assistance Program Assisted Living and Nursing Home Counselors Unpaid Vacation or Leave That can be Used for Caregiving Flex Time Access to Financial or Allowance Legal Advisors Substantially Poorly Experienced Experienced in U.S. in U.S. Workplaces Workplaces Access or Recommendation Paid Vacation or Leave to Relevant Support Group That Can be Used for Caregiving Paid Sick Leave That Can Health Counselors That be Used for Caregiving Provide Information about Conditions Unpaid Sick Leave That Can be Used for Caregiving Low Priority for Low Driver of Job Satisfaction Low Return on Future Investment Further InvestmentBased on ReACT Gallup/Healthways data