Benefits Think The caregiving crisis is upon us

Published Updated 5 Min Read

Young woman helping older man using a walker
Adobe Stock

Every day I hear team members, colleagues, and customers talk about the stress of juggling schedules to get kids to events, taking kids or parents to appointments, managing finances for their household and sometimes for their parents, and countless other challenges that come along with the important work of caregiving. For some, these caregiving responsibilities are expected, but we can’t forget that for many people, becoming a caregiver is disruptive, and they may be thrust into the role unexpectedly. 

Caregivers make up approximately 20% of the current U.S. workforce, and the trend is only growing. By 2030, an estimated 73 million people in the U.S. will be 65 or older, which will drive up the number of working caregivers in the sandwich generation — those caring for a child and an adult. And if you’re wondering just how big of an impact caregiving has on employees — while 35% of all employees are concerned about feeling burned out, that number rises to a whopping 60% for people caring for both children and parents. 

Amy Friedrich
President of benefits and protection

Amy Friedrich is president of Benefits and Protection with Principal Financial Group. Friedrich leads 3,200 employees responsible for group employee benefits, life insurance, disability insurance, … Read full bio


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