Dealcraft: Insights from Great Negotiators Introducing “HBS Managing the Future of Work"
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Dec 9, 2024 This episode tackles the economic impact of supporting caregivers at work, highlighting productivity losses from absenteeism. It reveals barriers faced by caregivers, especially post-pandemic, and suggests that companies rethink recruitment strategies to attract diverse talent. The discussion emphasizes flexible arrangements for hidden workers and the financial benefits of caregiving support. Additionally, the role of government policies, such as paid family leave, is examined, revealing strategies to enhance workforce participation among women and older individuals.
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Caregiving's Growing Importance
- Caregiving has become a more prominent workplace issue due to COVID, stagnant workforce participation, and the rise of women in the workforce.
- Employers are overlooking opportunities to build more diverse and engaged workforces by not addressing caregiving needs.
Economic Impact of Caregiving Crisis
- The caregiving crisis significantly impacts the economy, costing billions in lost productivity due to absenteeism and turnover.
- A third of workers, especially high earners, have left jobs due to caregiving conflicts.
Tapping into Caregiver Talent Pool
- Employers struggling to find talent should consider caregivers as a potential source.
- They often possess valuable skills and experience but are overlooked due to inflexible hiring practices.