Best Buy, AmGen, others to offer caregiver benefits

Best Buy, Dell, AmGen and health systems like Oakland, Calif.-based Alameda Health System are finding new ways to help provide employees with affordable caregiving services, Reuters reports.

Three things to know:

1. Companies are increasingly offering caregiving coordination and support to employees. Best Buy, for example, offers paid caregiver leave of up to four weeks and plans to offer paid time off to part-time employees.

"People are [now] able to spend the final days of a parent's life with them, and they wouldn't have been able to do that otherwise," a Best Buy human resources official told Reuters. "We hear so many heartwarming stories."

2. Reuters spoke with several caregiving service providers that work with businesses across the country. One such provider is Torchlight in Burlington, Mass., whose clients include TripAdvisor, Dell and Alameda Health System. Torchlight's services often save employees about $400,000 in cost offsets, according to one financial services company's evaluation of Torchlight.

3. Cariloop, a caregiver support platform in Dallas, measures its effect on employees by how much time it saves for clients, who could be using those hours to be more productive at work or elsewhere. For example, if you could save an employee making $75,000 per year at least 48 hours of time over six months, it saves nearly $2,000, Cariloop co-founder, CEO and Chairman Michael Walsh told the publication.

To access the full report, click here.

More articles on strategy:
California hospital to hire strategy and growth leader
UPMC partners with hospital in Kazakhstan
Cleveland Clinic's strategy for next 5 years: 4 takeaways

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 
 

Top 40 Articles from the Past 6 Months