The number of working caregivers and the amount of time they spend on caregiving responsibilities has increased more than 20% in recent years. In 2015, the number was 43.5 million. That increased to 53 million in 2020. And in just three years, Guardian found that the average time caregivers spend on related activities has nearly tripled, up from nine hours to 26 hours in 2023.
This means many working caregivers are facing challenges both at work and at home. In turn, this leads to decreased productivity, increased levels of absenteeism, and higher rates of turnover in the workplace. Leaders cannot ignore this growing issue.
As the coleader of the CARE (Caregivers Advocating for Resources and Empowerment) ERG with over 1,000 colleague members at Guardian, I can confirm that these implications are very real for both employees and their employers.
In addition to coleading our CARE ERG, I also lead Guardian’s enterprise content team, which tracks the well-being of the U.S. workforce, looking at their mental, physical, and financial well-being. Over the years and as part of our Mind, Body, and Wallet® report, we’ve noticed a consistent theme: Working caregivers report worse physical, mental, and financial health compared to their non-caregiver colleagues. Notably, the 2024 edition of our Mind, Body, and Wallet report uncovered near-record lows in well-being for caregivers.
These issues will likely become more pronounced as the number of working caregivers grows. That’s why it’s crucial that leaders understand the unique challenges that caregivers face, so they can mitigate these negative impacts and enhance overall worker well-being.
Working caregivers experience more challenges
Guardian’s report found that working caregivers are more likely to report poor physical, mental, and financial health. Many, for example, reported struggling with eating healthy foods and getting enough exercise. Less than a third (27%) of caregivers say they have excellent or very good physical health, compared to the 34% of non-caregivers who say they do.
Many caregivers also report grappling with behavioral health issues. Less than a quarter of caregivers (23%) reported excellent or very good mental health, compared to 33% of non-caregivers. Many caregivers struggle with anxiety, sleep issues, elevated stress levels, loss and grief, and burnout.
Working caregivers tend to also present financial challenges. Only 21% reported their financial well-being as excellent or very good, in comparison to 28% of non-caregivers. The economic costs of caregiving can be attributed to everything from reducing work hours or taking time off work, to updating their homes with accessible furniture or equipment for loved ones.
Beyond understanding that working caregivers face unique challenges, leaders also need to recognize the intersectionality of physical, mental, and financial health. For example, respondents who reported low emotional health were more likely to report lower physical health: Nearly half of workers (48%) who reported low emotional health also rated their physical health as “low.”
The findings also show that high financial stress drives low overall well-being, especially mental health. The reverse is also true: When mental and physical health measures are low, financial health tends to suffer as well.
In order to boost overall well-being, leaders need to understand how enacting policies or improving benefits can likely improve employees’ overall well-being.
Getting it right for working caregivers
Many employees, like me, have at some point in time felt like they’ve had to choose between their career and caring for their loved ones. Earlier in my career, I decided to finish a presentation before leaving to tend to my ailing mother. The establishment of the CARE ERG has helped me and my colleagues feel heard, and we’re fortunate to have a dedicated platform that establishes a support network, educates the organization about the unique needs of caregivers, and increases awareness of available services.
If leaders want to create a people-first culture that is both welcoming and high-performing, organizations need to support working caregivers. It’s clear that they face physical, mental, and financial burdens—and they are looking for more help from their employers. For example, Guardian’s report found that 43% of caregivers say they would be interested in having access to dedicated mental health resources.
Enacting meaningful change will require senior leader buy-in, regular evaluations of workplace policies and workforce data, and dedicated efforts to ensure that there is a support system for working caregivers—in and out of the workplace. Getting this right is an increasingly crucial component to building an overall inclusive culture and future-ready workforce.