The caregiving crisis may have gotten more attention over the last few years, but it still poses a significant threat to organizations offering the wrong kinds of benefits.
Child care costs have surged by 22% since 2020, according to a recent report from global care benefit provider Helpr, causing families to spend up to 20% of their household income on expenses. On the other end of the spectrum, elder care costs are also soaring, with the average private room in a nursing home costing $9,733 per month. Caught in the middle, employees are spreading themselves too thin to make it work.
