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Elder Care, Child Care or Health & Wellness?
Benefits & Compensation
Elder Care, Child Care or Health & Wellness?
Exchange ideas about health plans, retirement, work/life benefits, and employee assistance.
Which of these is the most sought after benefit that companies don't currently offer?
Elder Care: Resources for employees' sick or elderly parent.
Child Care: Resources for child care, parenting
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Forums » Topic Forums » Benefits & Compensation » Elder Care, Child Care or Health & Wellness?
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Elder Care, Child Care or Health & Wellness?
posted at 6/10/2009 9:54 AM EDT
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Posts: 11
First: 6/10/2009 Last: 7/21/2009 |
Which of these is the most sought after benefit that companies don't currently offer?
Elder Care: Resources for employees' sick or elderly parent. Child Care: Resources for child care, parenting tips, counseling for employees' dependent children Health & Wellness: Resources for employees to complete a Health Risk Assessment and then receiving coaching from a Wellness coach. |
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Elder Care, Child Care or Health & Wellness?
posted at 6/10/2009 10:48 AM EDT
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Posts: 2146
First: 2/15/2006 Last: 9/14/2011 |
It's going to depend on the demographics of the employees within the company. I don't think there is a "one size fits all" answer.
From an employer perspective, I know right now a lot of companies are going for Health and Wellness because it is believed that this will help lower health insurance claims and premiums in the future. From an employee/mom/female perspective, dealing with child care issues is my #1 stress point while I have children who are still not independent....especially over the summer when they are not in school, but that is personal....I dont' know whether most employees would claim the same thing. |
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Elder Care, Child Care or Health & Wellness?
posted at 6/10/2009 2:18 PM EDT
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Posts: 11
First: 6/10/2009 Last: 7/21/2009 |
I would agree that the research supporting preventive Health and Wellness measures has a more solid (and tangible) ROI story with regard to reducing health insurance costs.
I would think, however, that with the presence of the Baby Boom generation, there are many employees in the work force who are adult children of a generation of elderly adults, and there is a growing (not as tangible) "presenteeism" problem. I wonder if there is any solid research on the Elder Care issue? |
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Elder Care, Child Care or Health & Wellness?
posted at 6/11/2009 2:48 AM EDT
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Posts: 2146
First: 2/15/2006 Last: 9/14/2011 |
Just for grins, I googled "FMLA elder care" and came up with lots of articles. I think that is the path I would take to start researching the need. Obviously the federal gov't felt there was a need to add that as a provision of the original FMLA regulations. Of course in the long run, it is only a short term benefit.
One article stated that in 1997, 25% of Americans had elder care responsibilities. I wonder how that compares to child care responsibilities. Another article stated that 40% of the US workforce is providing child care and elder care simultaneously (from The Manager's Desk Reference By Cynthia Berryman-Fink back in 1996) And one last article with stats: "FMLA leave for elder care Percentage of FMLA leave requests involving elder care issues: 2003 16% 2004 18% 2005 21% 2006 36% Source: ComPsych" from http://www.hrspecialist.net/hrs_articles/compensation_and_benefits/2429/ |
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Elder Care, Child Care or Health & Wellness?
posted at 6/11/2009 7:32 AM EDT
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Posts: 11
First: 6/10/2009 Last: 7/21/2009 |
In one article I read, it said that Child Care consultations typically revolve around events that the employee can plan for -- daycare needs, counseling needs, etc.
Many times, in the case of Elder Care, there is a sudden physical or mental health event that requires more immediate action on the part of the employee and, therefore, the consultant. I'd also be interested in knowing what kinds of enhancements to these offerings would be appealing to employers, such as: - Wellness - Fitness coaching PLUS nutrition coaching. - Elder Care - Housing options PLUS Care Management, Home Health and Home Care options. - Child Care - Daycare options PLUS summer camps, etc. |
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Elder Care, Child Care or Health & Wellness?
posted at 6/11/2009 10:33 AM EDT
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Posts: 1047
First: 4/11/2002 Last: 9/14/2011 |
The larger underlying reason why companies should pursue health and wellness has to do with productivity. While reducing medical claims is a huge push, most employers don't realize that indirect costs associated with poor health are 2 to 4 times greater. So if a company has $1M in health care costs, they are losing between $2M and $4M in absenteeism and presenteeism. I'm not sure you could remotely approach those figures with the other 2 options.
I agree that elder care is going to be an issue for employers now that the baby boomers are going to start entering the phase of their lives where they may need nursing and home care. |
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Elder Care, Child Care or Health & Wellness?
posted at 6/12/2009 4:35 AM EDT
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Posts: 2146
First: 2/15/2006 Last: 9/14/2011 |
I think elder care might initially present itself quicker than having 9 months maternity notice for childcare, but that once you get the situation setup, the two (child and elder) lend themselves to the same types of issues -- need new provider, need to stay home due to sickness, need to take off for dr appts, inability to take care of self, etc.
But I still agree with MRoberts that from an employer perspective that Health and Wellness programs tend to bring in better results for the company in productivity, decreased lost time and lower med claims. Therefore that it the one that employers are focusing on. "Enhancements to these offerings would be appealing to employers,..." Honestly what's appealing to employers is what will bottom line increase profitability and productivity. As with any benefit/HR offering, the benefits HAVE to be tied back to the bottom line. Benefits for benefits sake just isn't something most employers are looking at right now....many are dropping benefits rather than adding anything new UNLESS again it affects the bottom line of the company. |
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Elder Care, Child Care or Health & Wellness?
posted at 6/12/2009 6:01 AM EDT
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Posts: 3870
First: 2/12/2002 Last: 11/2/2009 |
It's been quite a while since I reviewed EAP offerings, but it seems that what the poster is positing would be services typically offered through an EAP rather than directly through an employer. Perhaps contacting EAP providers would give you a better idea of what is being requested in these areas. |
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Elder Care, Child Care or Health & Wellness?
posted at 6/12/2009 6:31 AM EDT
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Posts: 1047
First: 4/11/2002 Last: 9/14/2011 |
Good point Carl. Compsych was quoted earlier and they have an EAP with a lot of bells and whistles, which most definitely includes elder and child care assistance. I'm not sure how much they roll up their sleeves and get involved vs. just providing information and resources on the topics. While the latter would have some positive impact on a company's workforce, I think it would have to be more hands on if you were trying to maximize any ROI. |
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Elder Care, Child Care or Health & Wellness?
posted at 6/12/2009 11:55 AM EDT
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Posts: 2146
First: 2/15/2006 Last: 9/14/2011 |
And unfortunately it seems the more hands on, the more generous the employer is, the more they get burned by employees who take advantage of that generosity (yes, I am cynical because I have seen it happen too many times). I honestly haven't seen it grow ROI...and I work for a very generous company that is becoming much less that way because of the burns.
I think it is also more cost effective for small companies to outsource admin of these types of benefits. Plus going to a third party (EAP) keeps the employer out of some liability of direct knowledge. That arm's length knowledge is supposed to protect the employer and keep the whole situation non-discriminatory. And the argument is also that the employee would be more likely to use the EAP if the employer didn't have to know the details. If I were trying to develop the business, I would work through small benefits/insurance brokers to add it as a "value added service". That's how our COBRA administration works -- and this year it has been very worth having.... |
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