Elder Care Benefits: A Key to Employee Retention 

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It’s common for workplaces to support employees through health insurance, childcare assistance, and retirement planning. A growing number of employees are facing another challenge: caring for aging family members. With 4.1 million Americans turning 65 each year and 73 million Americans expected to be 65 or older by 2030, the demands placed on employees caring for aging family members make some form of elder care benefits or accommodations an expectation. In 2024, 50% of U.S. employers said they prioritized senior care benefits, marking a shift in how businesses take care of their employees. 

Employees stretched too thin between work and caregiving are more likely to fall behind in work tasks, take unplanned absences, experience burnout, or quit. Employers are responding to this growing strain with expanded elder care benefits.  

Key trends in elder care benefits 

Here are the key trends that will shape 2025 and beyond:  

Paid caregiving leave 

Traditionally, family leave has been centered around new parents, but businesses are recognizing that caregiving duties extend beyond childcare. Companies are introducing paid caregiving leave, allowing employees to take time off specifically to care for an aging parent or relative without worrying about their job security. Paid leave enables employees to focus on their loved ones, strengthening loyalty and reducing turnover. 

Flexible and remote work options 

With 86% of caregivers relying on flexible work schedules, many companies recognize that work doesn’t always have to happen in an office or on a rigid 9-to-5 schedule. Many are formalizing remote and hybrid policies to help employees manage their responsibilities both at work and at home.  

Caregiving support services 

Employers are partnering with organizations that offer referral services, concierge support, and access to geriatric care managers. These programs take the guesswork out of elder care, connecting employees to vetted professionals and reliable resources. 

Backup elder care 

Like backup childcare, more businesses provide emergency elder care services for last-minute caregiver cancellations. These programs allow access to vetted professionals who can step in when a caregiver is unavailable; this prevents work interruptions and missed days. 

Financial support 

Some companies offer support through stipends, dependent care FSAs, or long-term care insurance options to cover caregiving costs that reduce financial stress and improve productivity.  

The impact on retention and satisfaction 

The data highlights how important these kinds of benefits are for keeping ahold of talent: 

• 22% of employees have left a job due to caregiving responsibilities. 

• 81% say they would be more likely to stay with an employer that provides elder care benefits. 

• Companies with elder care benefits see increased productivity, with 78% reporting a positive impact on workplace performance. 

When employees feel supported, they’re ready to give their all.  

Imagine a team member struggling to balance work and caring for an aging parent. With access to elder care concierge services and flexible remote work options, they can arrange doctor’s appointments without disrupting their job. This kind of support can be the difference between staying at a company or finding a new employer willing to be flexible with them. 

How businesses are responding across industries 

• Healthcare: Hospitals like Lurie Children’s Hospital provide up to 20 days of employer-subsidized backup elder care annually, ensuring medical staff can continue working even when faced with caregiving crises. This helps both employees and the hospital reduce staff shortages and maintain high-quality patient care. 

• Finance and corporate: Companies like Freddie Mac offer backup elder care services and concierges to help employees find balance. These companies recognize workers need the ability to focus without constant worry. 

• Technology: Firms are integrating AI-powered assistants and care coordination platforms to simplify caregiving logistics. The rise of digital solutions makes it easier for employees to schedule appointments, monitor elder care remotely, and get real-time updates on their loved ones' well-being. 

• Retail and manufacturing: Since shift-based jobs typically offer less flexibility than remote work or office roles, these industries are implementing shift swaps and in-house support groups to help employees manage elder care.  

What employers should do next 

Here are a few ideas for employers to stay competitive and retain top talent: 

• Assess current benefit offerings and identify gaps in elder care support. 

• Consider introducing paid elder care leave or backup caregiving services. 

• Provide access to resources such as financial planning tools and concierge services. 

• Foster a workplace culture that normalizes caregiving responsibilities. 

• Train managers to recognize signs of caregiver burnout. 

Companies prioritizing these benefits will strengthen their workforce and build a culture of care, loyalty, and long-term retention. With the average life expectancy increasing and a record-breaking number of Americans reaching retirement age in 2024, elder care has become less of an option and more of a necessity. Employers that fail to act risk losing top talent to those that do.  

Content published by Q4intelligence

Photo by chormail