The baby boomers comprise a large and aging population. As baby boomers and their parents age, more and more people are requiring caregiving in varying levels of intensity. In fact, more than 44 million Americans provide some sort of care for a family member or friend 18 years or older. The National Alliance for Caregiving and AARP conducted the study, called Caregiving in the United States, to find the costs to employers of caregiving employees.
"This study estimates the productivity losses to U.S. business of employees who must make workplace accommodations as a result of caregiving responsibilities. These include costs associated with replacing employees, absenteeism, crisis in care, workday interruptions, supervisory time, unpaid leave, and reducing hours from full-time to part time," according to the study.
Some of the key findings of the study are listed below:
The total estimated cost to employers for full-time employees with intense caregiving responsibilities is $17.1 billion.
The average cost per employee for those with intense caregiving responsibilities is $2,441.
The total estimated cost to employers for all full-time, employed caregivers is $33.6 billion.
The average cost per employee for all full-time, employed caregivers is $2,110.
The majority of family caregivers (79%) are providing care to someone over the age of 50.
Nearly 60% of those caring for an adult over the age of 50 are working; the majority of those work full-time.
Nearly 40% of caregivers are men.
The average age of the caregiver for a person over the age of 50 is 47.
Most caregivers provide unpaid care to a parent or grandparent.
Approximately 15% of the caregivers were providing care to someone who lived at a distance of more than an hour away.
At least 6 out of 10 employed caregivers reported that they had made some work-related adjustments as a result of their caregiving responsibilities.
10% of the employed caregivers reduced their hours from full-time to part-time.