Calculating the Cost of Caregiving
Research shows that employees who care for loved ones during “off-work” hours reduce the productivity and increase the health-care benefits costs of their employers. It is likely, however, that many of these workers are also some of your most experienced, reliable and respected employees.
To get an idea of how much family caregiving affects your organization, answer the following two questions: 1.) How many people do you employ? and 2.) What are your average health care costs/employee? Insert this information in the chart below. You will receive an instant reply that will be completely confidential. No data will be gathered from your responses.
Partners on the Path developed this simple tool to help you begin thinking about why you should and how you can support this group of valued employees. A sound investment in supportive services will yield improved performance, productivity and well-being for the caregivers you care about and the organization you lead.
The Cost to Your Organization
To calculate your organization’s cost of caregiving, follow these steps:
- Identify how many people you employ.
- Enter this number in the white box on Line 1 under # of Employees.
- A 2021 Willis Towers Watson survey shows that, including premiums, employers’ health care spend is expected to be $13,360 per employee next year
- Click the blue box below, marked “Click to Update Totals.” You will receive an instant calculation of your organization’s Total Cost of Caregiving
- This data will be completely confidential. No data will be gathered from your responses.
|Cost Calculations||# of Employees||# of Employee Caregivers||Cost/Employee||Costs of Caregiving|
|Cost of Lost Productivity|
|Additional Health Care Costs/Employed Caregiver|
|Total Cost of Caregiving|