CHATTANOOGA, Tenn.--(BUSINESS WIRE)--A new report from Unum (NYSE: UNM), a leading provider of leave management services and employee benefits in the U.S., details how caregiving responsibilities can take emotional, physical and financial tolls on the caregiver and result in lower productivity and engagement at work.
Available now at Unum.com/leave, the report, “Adult Caregiving: Generational considerations for America’s workforce,” details findings from research fielded among caregivers of adult family members among Baby Boomers, Gen Xers and Millennials.
Some key caregiver findings, further detailed by generation in the report, include:
- Most (58 percent) are caring for a parent or in-law, with spouse (16 percent) and adult child (10 percent) accounting for other top responses
- In addition to their caregiving responsibilities, most caregivers (55 percent) are working more than 30 hours per week
- Caregiving responsibilities result in missed work or tardiness (52 percent) and lower productivity on the job (22 percent)
- Caregivers report stress, anxiety and/or depression (61 percent), exhaustion (49 percent) and financial strain (44 percent)
- From their employers, caregivers most desire flexible schedules (67 percent), employer-paid family leave (50 percent) and the ability to work from home (42 percent)
- Caregivers long for mobile technology to help them manage their leave (85 percent)
“This report helps to spotlight not only the prevalence of caregivers in our workforce, but the many challenges they face in balancing personal and professional responsibilities,” said Michelle Jackson, AVP Regional Market Development at Unum. “Employers are being challenged to meet these caregivers’ needs if they’re to attract and retain a quality workforce. Nearly 90 percent of survey respondents said that an employer’s leave policies are important when considering or changing jobs.”
While most employers want to support these working caregivers, balancing the wide range of federal, state and even local leave policies can be confusing and complicated. Unum has created a variety of resources for both employers and employees at a new, dedicated site, which can be found here.
Unum Group (www.unum.com) is a leading provider of financial protection benefits in the United States and the United Kingdom. Its primary businesses are Unum US, Colonial Life, and Unum UK. Unum’s portfolio includes disability, life, accident and critical illness, dental and vision coverage, which help protect millions of working people and their families in the event of an illness or injury. Unum also provides stop-loss coverage to help self-insured employers protect against unanticipated medical costs. The company reported revenues of $11.3 billion in 2017 and provided nearly $7 billion in benefits.