Stipends, PTO and manager support will help caregivers thrive in 2024

December 29, 2023 1:24 PM

The majority of employees also have caregiving duties on their plates. What employer offerings will make them want to stay with — or join — a company in 2024?

Harvard research has found that while 73% of employees have some level of caregiving responsibility, there is a severe lack of understanding and support for this ever-growing population. Though women make up the largest proportion of caregivers in the U.S. and are at greater risk of leaving the workforce to fulfill these responsibilities, the research also showed that one-third of men change jobs after assuming a caregiving role, collectively leading to business losses in the billions of dollars.

"Care benefits are just one little slice of the pie," says Wes Burke, chief human resources officer at online caregiving marketplace Care.com. "How do we think of this differently in terms of full support?"

Burke emphasizes that along with supportive benefits like child care stipends or platforms that offer community, leader training and an overall awareness of the caregiving burden are crucial elements of every workplace caregiving strategy. Here are five elements he believes create a more holistic approach.

Compensation/reimbursement programs

Ever heard of a baby bonus? Care.com is one of a growing list of companies that offers this kind of financial assistance to new parents, and they supplement it with a $300 meal reimbursement to make sure that food prep is one less thing their employees need to worry about while they settle into their new routine, says Burke.

"There are all of these expenses that you're not really aware of or familiar with in terms of a baby," he says. "It's also an investment from us. Part of this is meeting people where they are and trying to find ways to provide a level of support."

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Paid time off

While many employees with caregiving responsibilities can use the time off allotted to them under the Family Medical Leave Act, going beyond the bare minimum requirements and paying attention to the needs of different types of caregivers can help employers put together a PTO plan that is most impactful and appreciated.

"We're in the tech space, and it's very competitive," says Burke of his company. "We have unlimited PTO and short-term disability — those are important — and we aligned our holiday schedule to match school schedules or bank holidays, so you're never having to sacrifice a day with your kid out of school. That's another really intentional thought, and it's important to us."

Caregiver platforms

Over one-third of caregivers are affected by burnout, according to a report from AARP and the National Alliance for Caregiving. Caregiving platforms can help employees find back-up and emergency care for children and elderly family members, along with access to advocates who often offer expert emotional support when things feel overwhelming.

"One of the top requests our care specialists get is around Medicare, specific to aging parents," Burke says. "When you think about the majority of the workforce today — the sandwich generation — they've got kids at home and aging parents. We talk about caregiving beyond child care."

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Flexibility

The ability to choose in-home versus in-center child care, attend their children's doctor's appointments and investigate care options for aging loved ones requires both a flexible work schedule and a variety of benefit options that meet the needs of a diverse caregiver population. To find out what kind of flexibility matters most to employees, Burke reminds leaders to gather regular feedback.

"The target survey is really good, but you have to be intentional about how you deploy that," he says. "[Asking] 'What do you value, from one to 10, and why. We did a survey, and flexibility came back [as the] number one most valued benefit."

Train and empower leaders

While benefits are an essential part of a company's caregiving support system, leaders who feel prepared to meet the needs of their employees play a key role in its overall success.

"We rely heavily on our leaders, and we encourage them to have an awareness with their team," Burke says. "Part of this is training — when you look at the HR model, I don't view it as our job to over-policy the workplace. We have guidelines in place, and then we tell our leaders, you're empowered to make the right decisions for your team."