Good morning!
Most workers are at least a little bit stressed out, but employees who are caregivers are in a league of their own.
As baby boomers age and millennials start families en masse, around 23% of adults find themselves in the “sandwich generation”—people who care for children while also caring for older adults. And there’s no denying it: These folks are frazzled.
While 35% of employees overall are concerned about feeling burned out, that number rises to a whopping 60% for people caring for both children and parents, according to a new report from Principal Financial, an investment management and insurance company. Around 45% of employees with no caregiving responsibilities are concerned about their mental health, but the same is true for 69% for employees in the sandwich generation. And more than 20% of sandwich generation employees have left a job because of the weight of their additional personal responsibilities, according to the report.
Because of their sky-high anxiety levels, employees in the sandwich generation place a huge amount of value in certain benefits—much more than other kinds of workers.
While 20% of non-caregiving employees find childcare and caregiving support “extremely valuable,” that number rises to 58% for the sandwich folks. Around 58% of the cohort want emergency savings programs, 64% want mental health and well-being programs, 71% want paid family and medical leave, and 76% want life insurance.
When it comes to the workplace overall the top three benefits considered “extremely valuable” are health care, retirement, and paid vacation days. But keeping an eye on the needs of caregivers is increasingly on the radar of HR departments across the country. And CHROs everywhere should take a hard look at their workforce, and see how they can help them with the burdens they carry every day.
Azure Gilman
[email protected]
Today’s edition was curated by Emma Burleigh.
Around the Table
A round-up of the most important HR headlines.
Around 96% of workers at Boeing voted to strike after rejecting a pay and benefit bump that they found lacking.Washington Post
After unionized Amazon drivers threatened to strike, the company says it will invest $2 billion into its delivery service program this year, including a 7% pay raise. WSJ
Hybrid work fosters higher levels of satisfaction and productivity among workers, according to a new report, and forcing employees back into the office could hurt company culture. Business Insider
Watercooler
Everything you need to know from Coins2Day .
DEI troubles. A venture capital grant aimed at uplifting Black women business owners has shut down operations as part of a settlement agreement, after a conservative group filed a lawsuit against the program. —Alexandra Olson, AP
Ousted.Rail transportation company Norfolk Southern fired its CEO after an investigation found he had an inappropriate workplace relationship with a chief legal officer. —Kiel Porter, Bloomberg
Always on. JPMorgan has limited its junior bankers to 80 working hours per week, but some cases will be exempt from the rule, as the bank attempts to navigate criticism over Wall Street’s grind culture. —Orianna Rosa Royle
