What is Caregiver Benefits, and Why Are They Important?
COVID changed the world. It changed how we work. It changed how consumers shop for goods and services. It changed the relationship between employers and employees.
One of the key changes is that employees are more likely to pass up job opportunities based on benefits overpay. While people want a living wage, they need options to allow them to come and go as they please to care for themselves and their families. Individuals realized that their world and priorities could shift at any moment. Things they took for granted, such as daycare services, schools, elderly care services, and more, can disappear in a heartbeat.
Therefore, employers need to provide caregiver benefits to ensure these employees know they can take care of their families as needed without losing their jobs. They need to know that they have options to help afford the caregiver responsibilities while still working to support themselves and their families.
Read on to learn more about caregiver benefits, and you can provide them to your employees without breaking the bank.
What Are Caregiver Benefits?
Caregiver benefits are extra services and voluntary options employers can provide to employees to help them continue to care for children, parents, or a spouse. These benefits can take many forms. Family Medical Leave is a small part of the caregiver benefit package that employers can offer. However, many employees are looking for more from their employers to help them continue as caregivers while working.
Some of these types of benefits include the following:
- Work from home options and flexibility
- Childcare assistance
- Elder Care Assistance
- Paid personal days to care for family members
- Counseling support for caregivers
- Paid or discounted in-home services for employees and their families
- Benefit counselors
- Short and long-term disability
- Legal services at a free or reduced-cost
- Respite Care Services
- Financial Counselors
- Wellness Programs
Do Employers Have to Pay for These Services?
Some of these services may not cost employers anything. For instance, offering benefits counselors and work from home options cost employers nothing. However, they provide employees with resources that can make a huge difference in their lives.
Other benefits may be voluntary with a small cost to the employer. Some employers may cover the cost of things like elder care assistance, childcare assistance, and respite care services. However, they also have the right to simply offer these benefits as a low-cost voluntary benefit for employees.
Offering the benefits can be a help to employees, even if they need to pay for the right to use them. They will spend less time looking for these types of services, giving them more time to focus on getting their job done as needed.
Discussing your options with a benefits team can help you determine what your company can afford to offer at little or no cost to employees to help them be great employees and great caregivers as well.
How Do Caregiver Benefits Help Your Workplace?
Caregiver benefits provide peace of mind to many employees. They have the resources to care for their family as needed. Furthermore, they will want to work for a company that believes in helping employees maintain a proper work-life balance.
Caregiver benefits will help you attract the talent you want working for you. They help you attract passionate employees who care about anything they put their mind to accomplishing. This type of passion resonates in both their home life as a caregiver and their work life as an employee.
Furthermore, employees that feel appreciated and respected will work harder for their employer. They will want to continue working for a company that gives them the benefits they need to care for those they love. As a result, your company will see increased productivity.
To learn more about caregiver benefits and how they can help your company prosper, contact the team at WorkplaceHCM at (856) 334-9711.