Research

Research

 

The Caring Company:
How Employers Can Cut Costs And Boost Productivity By Helping Employees Manage Caregiving Needs

By: By: Joseph B. FullerJoseph B. Fuller & & Manjari RamanManjari Raman

 

By investing in a care culture, American companies can prepare themselves for the looming care crisis.

The economics of care are misaligned in most companies. Employees don’t get the support they need for their caregiving responsibilities and employers pay the hidden costs, including turnover, rehiring, presenteeism, and absenteeism.

Read the report.

Featured Videos

Podcast

The Caring Company

Joseph Fuller & Sheila Marcelo
Joseph Fuller & Sheila Marcelo
  • 16 JAN 2019
  • | 
  • Managing the Future of Work
Almost a third of workers—and more senior executives—say their careers have been adversely affected by caregiving obligations. As Joe explains to this episode’s guest host, HBS alum and Care.com CEO Sheila Marcelo, demographic trends and the changing role of women in the workforce mean that employers must “do the math” when it comes to care. By not accounting for costs like reduced productivity and increased turnover, employers leave money on the table when it comes to care.
Almost a third of workers—and more senior executives—say their careers have been adversely affected by caregiving obligations. As Joe explains to this episode’s guest host, HBS alum and Care.com CEO Sheila Marcelo, demographic trends and the changing role of women in the workforce mean that employers must “do the math” when it comes to care. By not accounting for costs like reduced productivity and increased turnover, employers leave money on the table when it comes to care.

Related Research

Healthy Outcomes: How employers' support for employees with caregiving responsibilities can benefit the organization

By: Joseph B. Fuller
  • 10 JAN 2024
Post-COVID, many more employers recognize that their employees are juggling work along with caregiving responsibilities—but management tends to lack a strategic response. This is because few employers calculate or track the economics of providing support to caregiving employees. Our research shows that employers who make the right investments in caregiving benefits for employees are more likely to see better outcomes such as higher retention and better engagement.
Read the report

Media Coverage

The Care Economy

Joseph Fuller & Kayla Lebovits
  • 26 Aug 2020
  • | 
  • Behind Bundle Podcast

How companies can support their employee caregivers during the COVID-19 outbreak

Liz O’Donnell
  • 23 Mar 2020
  • | 
  • Fast Company

Caregiving crisis? Employers slow to catch up to ‘sandwich generation.’

Mark Trumbull
  • 05 Mar 2019
  • | 
  • The Christian Science Monitor

Caregiving Benefits Tend to Miss the Mark

Stephen Miller
  • 22 Jan 2019
  • | 
  • Society for Human Resource Management

Caregiving duties drive many employees out of the workforce

Jack Craver
  • 22 Jan 2019
  • | 
  • Benefits Pro

Many employers unaware of costs of caregiving economy: report

  • 21 Jan 2019
  • | 
  • Benefits Canada

'Caregiving crisis' a hidden cost for businesses

Brittany De Lea
  • 19 Jan 2019
  • | 
  • Fox Business

Employers Need to Address ‘Caregiving Crisis,’ Study Finds

David Harrison
  • 16 Jan 2019
  • | 
  • The Wall Street Journal

A third of US workers have left a job due to caregiving responsibilities

Corinne Purtill
  • 18 Jan 2019
  • | 
  • Quartz at Work

The Stealth Productivity Drain on American Workers

Alix Langone
  • 18 Jan 2019
  • | 
  • Money

Upskirt Photos, Citi Pay Gap, Caregiving Crisis: Broadsheet January 17

Kristen Bellstrom & Emma Hinchliffe
  • 17 Jan 2019
  • | 
  • Fortune

Why Business Should Support Employees Who are Caregivers

Danielle Kost
  • 17 Jan 2019
  • | 
  • HBS Working Knowledge

Harvard study: Workers are facing a caregiving crisis and companies refuse to acknowledge it

Ruth Reader
  • 16 Jan 2019
  • | 
  • Fast Company

The Caring Company

Joseph Fuller & Manjari Raman
  • 16 Jan 2019
  • | 
  • American Enterprise Institute

Employers Are Clueless When It Comes To Family Caregiving

Howard Gleckman
  • 16 Jan 2019
  • | 
  • Forbes