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By the end of 2024, there will be more employees with elderly dependents than children. This can be emotionally and financially draining to employees — in many cases leading to burnout.
Because of this, we’re noticing more and more employers opting to offer caregiving benefits through Ben. Read on to find out more about this type of benefit, and some Ben customers who are already offering these benefits to their team.
What are caregiving benefits?
Employer-supported caregiving benefits are designed to help employees manage their caregiving responsibilities, like looking after children, elderly parents, or other family members. These benefits can significantly reduce stress at home, which often is brought into the workplace.
Companies can offer caregiving support in various ways. Popular options include flexible working hours and paid or unpaid caregiving leave.
More and more companies are now providing assistance in the form of benefits like:
- Workplace nursery schemes and childcare support
- Emergency backup care
- Financial assistance for caregiving expenses
- Counselling services
- Support groups
- Referrals to caregiving services
Why offer caregiving benefits?
Offering employer-supported caregiving benefits isn’t just a kind thing to do for your team, it makes a real impact to your business. Here’s why:
- It leads to a more engaged and productive employees by reducing employee burnout and stress.
- Helps maintain high performance and lowers recruitment and training costs.
- Makes your company more attractive to top talent who value work-life balance in a competitive job market.
- Over time, the investment in caregiving benefits pays off through lower turnover, reduced absenteeism, and an overall more motivated team.
Three Ben customers who are offering caregiving benefits
Here are three Ben customers leading the way in offering caregiving support to their employees:
- Value Retail: Value Retail recognises the growing need for eldercare support and has implemented benefits specifically aimed at helping employees care for elderly family members. They’ve chosen to partner with Seniorcare by Lottie as their eldercare assistance provider. This way they can ensure that employees can manage their responsibilities at home while continuing to excel in their roles.
- Vinterior: They wanted to showcase their family friendly values to their team. One of the ways they’re doing this is by supporting employees with young children by offering their team a workplace nursery scheme through Ben to help employees cover the costs of childcare — making it easier for working parents to balance work with caregiving responsibilities.
- Ben: We practice what we preach! As part of our Ben employee benefits package everyone at Ben has access to Curam, one of our Ben’s choice providers for eldercare benefits, through the Ben platform. This way, all Ben employees have access to top level care to help them navigate the challenges of caring for loved ones.
Want to learn more about how Ben can help your team access best in class caregiving benefits? Let’s chat!
Want to find out more?
We sat down with our Ben’s choice provider, Curam, to chat through how their caregiving service can impact companies and employees. Watch the recording.