Whilst some are enjoying the last days of summer before the pace of work picks up again in September, others have been struggling to meet the costs of care over the holiday period.
New data from eldercare employee benefits solution, Seniorcare By Lottie, has revealed employees juggling childcare and elderly care are out of pocket by an average of £1,546, due to the rising costs of caring.
Seniorcare By Lottie’s research into the cost of care in 2024, coupled with a caregiving crisis and ageing population, has revealed businesses offering eldercare benefits can save UK businesses an average of £42,400 annually by reducing lost productivity, absenteeism, and employee turnover.
Cost of care was also given as a key factor impacting productivity at our recent Make A Difference Leaders’ Lunch.
Out-of-pocket costs include expenses like household bills, childcare or summer camp costs (which can total £1,257 per child), and any equipment or external support when caring for a loved one.
Demand for short-term care from employees juggling work and caregiving peaks during the summer month
Many informal carers struggle more than ever to balance caring for two generations while juggling other commitments, such as work during the summer months. In the last three months, there has been a surge in carers turning online for support**:
- 200% increase in online searches for ‘respite care for family caregivers’
- 100% increase in online searches for ‘taking care of elderly parents’
- 100% increase in online searches for ‘respite care near me’
As a result, the demand for respite care (care homes and home care) through Elderly Care Marketplace Lottie surged by 180% in the run-up to the summer holidays*** as sandwich carers looked for short-term support.
George Howard, Senior Manager at Seniorcare by Lottie explains:
“It’s estimated that 1.3 million people in the UK are sandwich carers, equivalent to 4% of the workforce. As a result, there has been a surge in demand for respite care, particularly during the school holidays.
The Carers Leave Act, which came into effect in April, provides a week of unpaid leave for caregiving. While this is a positive step, business leaders need to take further action to support carers in the workplace. Enhanced support through clear carer policies and encouraging a supportive network can significantly reduce the strain on these employees.
Eldercare solutions, such as concierge services that match employees’ loved ones with appropriate care options, whether at home or in care facilities, not only support employee wellbeing but also enhance overall productivity and employee retention.”
You might also like:
