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Time for a Double-Take on Eldercare Benefits?

WEST PALM BEACH, Fla. - Could there be a "silent productivity killer" waiting to strike at your credit union? According to the National Alliance for Caregiving, one of every four households currently provides care for an elderly relative. With the "sandwich generation" - those employees who have both children and...

By Staff Writer | Updated on March 30, 2004

WEST PALM BEACH, Fla. – Could there be a “silent productivity killer” waiting to strike at your credit union? According to the National Alliance for Caregiving, one of every four households currently provides care for an elderly relative. With the “sandwich generation” – those employees who have both children and parents to care for – expected to increase over the next few years, experts say it depends on if the credit union has taken elder care benefits into consideration. A survey by the Society of Human Resource Management finds that 23% of its members reported turnover because employees were challenged with eldercare problems. The survey finds that low-cost effective solutions can range from providing resource and referral services, flexible schedules and working at home, to long-term disability coverage at group rates, employee assistance programs and lunchtime sessions on elder care or support groups. Recently, Vancouver, British Columbia-based VanCity Credit Union’s human resources department opted to take a more proactive approach by expanding the option of flexible scheduling to staffers with elder care needs. In additon, credit union employees who want to keep in touch with their elderly relatives are provided pagers. Here is a look at how organizations are handling eldercare issues across the country:

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