Caregivers: In Good Company
But when my producer, Susan Schackman, and I headed to Freddie Mac, the mortgage giant in McLean, Virginia, to report on what businesses are doing to help workers manage the elder care pinch, we were struck by what we found.
The company, among other benefits, sponsors a monthly support group meeting where employees, on company time, can share their feelings and get some tips about caring for aging parents and grandparents.
"You're not in it alone, I guess that's the key to the meeting," said Maurene Churchill, whose father has leukemia and mother has breast cancer. "Although you think your (situation) is tough and everybody's is tough, it's not just you going through it."
"It was good to talk to other people and get rid of some of the guilt," said Bill Yielding, whose parents are now deceased. "Once you are talking to other people, it's much easier to realize you are not alone and not supposed to know how to do this."
And then there was Linda Blossom, who started attending the support groups six years ago when her mother's breast cancer spread. Her mom immediately noticed a difference. "She acted a little stressed for awhile and then all of a sudden I didn't see the stress anymore," Gladys Tulloch told us in an interview.
"I think it's a personal touch that, you gain that strength from each other," said Linda, who no longer just attends the meetings, she now leads them.
Not only did these workers say Freddie Mac was helping them get through very difficult situations, they wanted to give something back in return.
"It really motivates you to meet your deadlines and do a better job instead of doing just what you need to do to get something done (because) you feel like it's a two-way street," said Bill. "If they're going to be supportive, then you've got to be supportive back."
This all makes you wonder why more businesses don't do what Freddie Mac is doing. Not only can you help your employees but you build loyalty and improve productivity. Think about this number alone – more than 33 billion dollars is lost each year when employees miss work or quit to care for loved ones.
Sadly, corporate America hasn't gotten the message yet. Only about one in four companies offers any elder care benefits. One of the biggest reasons more businesses don't is because of cost.
But don't the benefits outweigh the costs? Think about impacting an employee's life, holding onto that employee in a very competitive environment for top workers and getting more from that worker on the job. Wouldn't that be a winner for the bottom line and for society in general? We hope Corporate America is listening.