The Secret Second Career

Corporations & Elder Care

When you think about a secret second career, you might imagine working parents who are juggling the demands of their children. What you might not realize is that many employees have a different type of second career; over 70 million adults in the Unites States and Canada spend at least twenty hours every week caring for an elderly loved one. In fact, the typical adult spends more time caring for their elderly parents than for their children.

Family caregiving comes at a tremendous cost to both employer and the employee. Employers face over $33 billion in costs from increased health-care claims, employee turnover, and lost productivity; that translates to over $2,100 per employee. The employees also lose $659,000 in wages and promotions, as they are forced to make difficult choices between their careers and their family. Unfortunately, female managers are those that are most impacted by caregiving. According to a national MetLife study on the impact of caregiving on working women:

  • 33% decreased in their hours or switched to part-time
  • 29% declined a promotion, training or assignment
  • 29% left the workforce entirely
  • A Caregivers average wages, benefits and missed promotions lost over a lifetime = $659,000

With numbers like these, more companies are leveraging senior care resources to support their staff. Employees benefiting from senior care solutions are able to balance the needs of their families with those of their careers.

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