Productivity Study for Elder Issues Facing Boomers

According to a study performed by MetLife, American companies are losing $33.6 billion dollars in lost time and productivity due to the care-giving responsibilities of their employees.

The MMI also reports that for all levels of caregivers:

• Of the 2.4% of employees who leave the workforce entirely to be caregivers (200,000 men and 184,000 women), the cost to replace them is $6.6 billion.
• Absenteeism, reported by the majority of caregiving employees, costs $5 billion, while partial absenteeism, affecting virtually all working caregivers, accounts for nearly $2 billion in losses.
• Workday interruptions, at least one hour per week per caregiver, cost $6.3 billion.
• Having a crisis that requires attention during the workday is experienced by 60% of employed caregivers and costs $3.8 billion.
• Other lost productivity costs include: costs for supervision ($1.8 billion), costs associated with unpaid leave ($3.4 billion) and those resulting from a reduction from full to part-time status ($4.8 billion).