School's back in session, bringing back morning routines, packed lunches, homework…. and caregiver stress. It's true that there have been significant strides over the last few years, but this time of year is a good reminder that Companies can do more to support caregivers in their workforce.
Why is this important? It's not just because HR thinks it’s a nice to support caregivers. It's because 73% of the workforce are caregivers*. It just makes good business sense to ensure you have the policies, programs and culture for them to be as engaged and productive as possible.
A few years ago, at the height of the pandemic we did some research on both caregiver needs and what companies were doing to support this critical population. We developed a “prescription” for engagement and retention of caregivers in the workforce.
Four years later, we are asking ourselves, have companies done enough? We think the answer is, no.
And the need is only increasing with Gen Z continuing to enter the workforce. This generation prioritizes flexibility, work life balance and mental health support...all priority needs for caregivers. The world economic forum predicts that Gen Z will make up 30% of the workforce by 2025. So if you’re not addressing these common needs of the caregiver and Gen Z populations, you are completely out of touch with your employees.
As you plan your HR priorities for 2025, check out our refreshed checklist and recommendations for creating a workplace that attracts, retains and engages both caregiver and Gen Z talent.
1SOURCE: Harvard Business ReviewResearch: “Caregiver Employees Bring Unique Value to Companies”;Lisa S. Kaplowitz and Kate Mangino. Harvard Business Review August 2023
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