Why caring about caregiving is essential for CFOs

In the world of HR and finance, the directive is often clear: get costs under control. Usually, this means looking at claims reports and circling the biggest numbers—cancer treatments, leaves of absence, and mental health crises.

But what if you’re only treating the symptoms, and not the root cause of these costs?

The reality is that for approximately 73% of your workforce, life outside of work is defined by the demanding role of being a caregiver. Whether they are part of the “Sandwich Generation” caring for both children and aging parents, or supporting a loved one with special needs, this role is a massive, often invisible driver of those very claims you’re trying to reduce.

When employees are overwhelmed by caregiving, the “hidden” costs—productivity loss, burnout-driven leaves of absence, and exacerbated health issues—quietly erode your bottom line.

The financial case for caregiving support

To a Chief Financial Officer, every benefit is evaluated through the lens of financial impact and ROI. While caregiving was once seen as a “nice-to-have,” it has become a critical business offering for several key reasons:

• Productivity and absenteeism: The economic cost of caregiving in the U.S. is estimated at up to $600 billion. When employees lack support, they struggle with frequent interruptions, stress, and competing priorities that lead to significant productivity loss.
• Lowering claims costs: Caregiving-related stress contributes to chronic health conditions, mental health struggles, and even avoidable leaves of absence. By addressing these issues before they escalate, companies can see a reduction in healthcare and disability claims.
• Retention and recruitment: Without adequate support, valuable employees may seek higher salaries elsewhere to offset out-of-pocket expenses, or resign entirely. The cost of rehiring and retraining is far more expensive than providing a supportive benefit.

How to evaluate a caregiving benefit

If you are an HR leader bringing a proposal to your CFO, you need to ensure the solution is as fiscally responsible as it is supportive. Consider these factors:

1. Is it holistic? A “niche perk” only helps a small group. A truly valuable solution supports the full spectrum of care—from newborns and teenagers to aging adults and self-care.
2. Is it data-driven? CFOs prioritize quantifiable outcomes. Look for a partner that tracks metrics like hours saved, reduced turnover, and improved employee engagement.
3. Does it integrate? To reduce administrative burdens, a caregiving benefit should complement and enhance your existing EAP or mental health services, not duplicate them.
4. Are costs predictable? Transparent pricing models and stable cost structures are essential for informed budgeting.

Moving toward a “one-stop-shop”

Employees’ lives are interconnected, and their benefits should reflect that. By consolidating fragmented services into a single, globally-integrated platform, you can reach employees across geographies while ensuring equitable support.

Providing caregiving support isn’t just about being a progressive organization; it’s about making a rational, data-driven decision to protect your most valuable asset—your people.