To Save Time and Money, Companies Roll Out Caregiving Benefits
Thomson Reuters discusses how caregiver benefits help companies nationwide not only save time and money, but boost employee productivity. This article discusses the impact caregiving has on employees in the workplace and provides business leaders with solutions to help support this growing population.
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NEW YORK (Reuters) – When Laura Hirsch of Keller Texas had to find a rehabilitation center to help her father recover from a difficult surgery in September, the caregiving service Cariloop saved her a whole day.
A case manager at Cariloop, based in Richardson, Texas, sorted through more than a dozen rehab facility options, then armed Hirsch with the right questions to ask when choosing among the final contenders.
Hirsch, 55, saved time, and was also grateful to be relieved of the emotional burden of visiting subpar facilities to cross them off the list.
“She saved me all of that,” said Hirsch, a private customer who pays $600 a year to Cariloop. The benefit of such a service is now starting to draw many companies to offer caregiving services to employees.
Cariloop measures its impact through the time it saves for clients, which they could then use to be more productive at work.
“If it takes us one hour to do something, it would take the client four,” said Cariloop CEO Michael Walsh.
So if you have an employee making $75,000 a year and you save them 48 hours of time over six months, that’s nearly $2,000. If you are a law firm with partners earning $500 an hour, the cost savings would go way up, Walsh said.
For a family, the emotional help can offer the greatest value. Hirsch is about to go on a cruise, one week she takes every year with friends.
“If something happens with my father, my daughter can step in, and she can pull up all this information – his will, powers of attorney, medications, anything that is important to him,” Hirsch said. “It’s huge.”
Click here to read the full article. Originally posted by Thomson Reuters on March 4, 2019. Written by Beth Pinsker.
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