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Business case for eldercare benefits heats up over summer, finds Seniorcare 

by Benefits Expert
21/08/2024
respite care, elder benefits, sandwich carers
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Costs for working sandwich carers rise by an average of £1,546 over the summer, driving up demand for respite care, and in turn eldercare benefits, according to data analysis by employee benefits provider Seniorcare by Lottie.

By analysing publicly available data, the provider found that sandwich carers were out of pocket by an average of £257 a week over the summer holidays as the cost of care rises. 

Costs include household bills, childcare or summer camp, which can cost around £1,257 per child, as well as equipment or external support required to care for a loved one.

Short-term care demand surges

As more employees find themselves caring for multiple generations in addition to work commitments, the need for short-term care surges during school holidays. The provider said that demand for its respite care, through Elderly Care Marketplace Lottie, increased to nearly three times (180 percent) the demand the provider sees outside this high demand period.

Google data also showed that in the last three months, there has been a dramatic increase in carers looking for short-term support online.

Searches for ‘respite care for family caregivers’ tripled, while searches for ‘taking care of elderly parents’ and ‘respite care near me’ doubled.

‘Growing recognition’

With an estimated 1.3 million sandwich carers in the UK, equivalent to 4 percent of the workforce, the provider said that there was “growing recognition” among businesses of the value of eldercare benefits.

Further data analysis by the provider estimated that businesses offering eldercare benefits can save an average of £42,400 annually by reducing lost productivity, absenteeism and employee turnover.

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George Howard, senior manager at Seniorcare by Lottie, said: “Our research has shown that one-third of respite care inquiries are for dementia care, reflecting the complex needs of elderly loved ones. 

“Sandwich carers face additional financial pressures during the summer months, being out of pocket by £1,546, with childcare costs averaging £1,257 per child and an 8 percent increase in elderly care costs over the last year.”

Reduce the strain

He acknowledged that the carer’s leave act, which came into effect in April, provides a week of unpaid leave for caregiving, adding that this was a positive step.

However, he said that 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.

“Moreover, businesses that invest in eldercare benefits can see substantial commercial advantages.

“On average, companies with dedicated eldercare support save £42,400 a year [by reducing] lost productivity.

“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.”

Business case

Howard set out his top five business case reasons for supporting employees with caregiving responsibilities.

  1. Improved productivity

Employees who are also caregivers often struggle to balance their responsibilities. By providing eldercare solutions, businesses can help alleviate some of the caregiving burden, enabling employees to remain focused and productive.

  1. Reduced absenteeism

Caregivers may need to take time off work to handle emergencies or manage day-to-day caregiving tasks. Offering eldercare benefits, such as access to respite care or in-home support, reduces the need for unscheduled leave, allowing employees to maintain a more consistent work schedule.

  1. Retention and attraction

Sandwich carers often leave the workforce due to the overwhelming demands of caregiving. By supporting these employees through eldercare benefits, businesses can retain experienced and skilled staff, reducing turnover costs and maintaining continuity within teams. Companies that offer comprehensive eldercare benefits can position themselves as employers of choice, attracting top talent who value work-life balance and family-friendly policies. This is particularly important in a competitive job market where benefits packages can be a key differentiator.

  1. Wellbeing and mental health

The stress of managing caregiving responsibilities alongside work can lead to burnout, anxiety, and depression. Eldercare solutions, such as access to counselling, respite care, and flexible working arrangements, can significantly improve the mental well-being of employees, leading to a more positive and productive workplace culture.

  1. Business savings

The average UK business can save £42,400 in reducing lost productivity, absenteeism and employee turnover each year due to employees being able to better balance eldercare responsibilities and work. This totals around £848 per employee with caregiving responsibilities.

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