This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Role Reversal: Kids Scrambling To Find Care For Mom And Dad

WATERTOWN, Mass., March 29, 2013 /PRNewswire/ -- According to a recent study of more than 5,000 U.S. workers, mid-career employees have become increasingly dependent on employer-sponsored back-up elder care programs.  This increase in demand for elder care mirrors the increase in the number of people providing care to an aging relative – more than 40 million people had responsibility for an elder's care in 2012, according to the Bureau of Labor Statistics.  The Lasting Impact of Employer-Sponsored Back-up Care, a study conducted by Horizons Workforce Consulting and Russell Matthews, PhD, assistant professor of psychology at Bowling Green State University, confirms that working men and women ages 40 to 60 are embracing elder care supports in order to focus and remain productive at work while feeling confident that their aging parent – or spouse – has access to quality care.

Sandwich Generation employees, those who care for their aging parents while also supporting their own young children, are particularly impacted.  Roughly one out of every eight Americans between the ages of 40 and 60 fall into this group, according to the Pew Research Institute, and between 7 million and 10 million Americans are providing care for their aging parents from afar with little or no back-up support in the case of an emergency.

"The tensions of child care, elder care, and work make the Sandwich Generation most prone to acute caregiver stress.  Not only are they overwhelmed trying to balance their careers with the demands of parenthood but also with the responsibility of caring for their own aging parents.  When they have breakdowns in their normal support systems, it can seem near impossible to manage it all," said David Lissy, Bright Horizons Chief Executive Officer.  "Having access to quality back-up care for children and adult relatives can go a long way toward alleviating stress for these employees and reducing absenteeism and loss of productivity for their employers."  The Lasting Impact of Employer-Sponsored Back-up Care study surveyed employees who used Bright Horizons' Back-up Care Advantage Program ® within the past six months.  Of the respondents with adult/elder care responsibilities:

  • Two-thirds are providing daily living support for an adult relative.
  • Three-quarters are providing health-related supports for their aging family members.
  • Nearly 100% said that having an elder care benefit like the Back-Up Care Advantage Program has provided them with a level of comfort and increased their productivity. 
  • Nearly 70% of those surveyed who used the elder care benefit said that this benefit has allowed them to work on a day they would have otherwise missed, and, on average, having access to adult back-up care has allowed employees to work six days in the past six months that they otherwise would have missed. 

About Bright Horizons Family Solutions ®   Bright Horizons Family Solutions ®  is a leading provider of employer-sponsored child care, early education, and work/life solutions.   Bright Horizons Family Solutions ®  serves more than 850 clients across the U.S., the UK, Ireland, the Netherlands , Canada, and India with programs including child care and early education, back-up care, elder care, educational advisory services, and work/life consulting. The company operates more than 750 child care and early education centers worldwide.

About Russell Matthews, Ph.D. Dr. Matthews is an Assistant Professor at Bowling Green State University. He received his Ph.D. in Industrial/Organizational psychology from the University of Connecticut in 2007, and also holds graduate certificates in Occupational Health Psychology and Quantitative Research Methodology. Prior to joining the faculty at BGSU, Dr. Matthews was an Assistant Professor at Louisiana State University. Before that he worked for IBM as a part of the Global Selection and Assessment Team. Dr. Matthews primarily conducts research examining the work-family interface, the stressor-strain process, and employee well-being outcomes.

SOURCE Bright Horizons Family Solutions

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs