Companies turn to care benefits as a retention and mental health tool
CALIFORNIA – APRIL 26, 2022 – To meet the recently spotlighted needs of employees caring for older adults, The Larkin Company will extend their leave administration services to provide eldercare support in collaboration with Ways & Wane.
By receiving caregiver support before and/or during a leave of absence, employees are more equipped to navigate a major life event and work. In some cases, the eldercare support may even allow an employee to avoid taking a leave of absence. The Larkin Company’s investment in Ways & Wane enables the company to offer integrated eldercare services consistent with Larkin’s gold standard approach.
“If we can support employees caring for an older adult even before they reach a work/life crisis and take a family leave, then it serves both the family and the employer,” explains CEO Jack Larkin.
- 78 percent of major employers say caregiving will be an increasingly important issue over the next five years, according to a Northeast Business Group on Health report.
- Increased caregiving demands (67%) and decreased social connections (61%) are the leading drivers of mental health issues. Yet only one in four employers believe their programs and policies to support employees with caregiving responsibilities are effective. (Willis Towers Watson Pandemic Report) According to the Harvard Business Review The Caring Company report, almost a third of workers—and more senior executives—say their careers have been adversely affected by caregiving obligations. By not accounting for costs like reduced productivity and increased turnover, employers leave money on the table when it comes to care. The Larkin Company recommends adding eldercare employee support to their robust family leave benefits. The Larkin eldercare benefit supports employee mental health, addresses caregiver inclusion policies and retains talent by providing caregiver support. Employees balancing work and care for an older adult can expect the same personalized, high-touch service that typifies The Larkin Company experience.
About The Larkin Company
The Larkin Company specializes in innovative and customized solutions for clients who value a personalized, employee-centric approach to absence management. Larkin services cover leave of absence, ADA administration, self-insured disability programs and more. All supported by cutting edge technology solutions while providing dedicated administrators to support employees throughout their experience. Founded in 2001, The Larkin Company is headquartered in Santa Clara, CA, with locations in Roseville, CA, Atlanta, GA and New York City, NY.
About Ways & Wane
Ways & Wane honors older adults by serving employee caregivers. Solving eldercare challenges for busy professionals, Ways & Wane delivers in-hand and high-tech products, backed by one-on-one care advisors.