As employees struggle to balancethe responsibilities of work and caregiving, individualproductivity suffers accordingly, inflicting a cost on theemployer.

Even though it is mid-February, chances are the fond memories offamily gatherings over the holidays remain fresh in our minds. Butfor many of us, since we are only able to see loved ones once ortwice a year, we're a little surprised when we find a parent orgrandparent who has started to slow down and become a little forgetful since the last visit.Or you realized they are going to need more help with basic thingslike cooking, driving and taking care of themselves—probably soonerthan later.

Scenarios like these continue to dominate people's thoughts,leaving them unsure of what to do next and distracting them fromtheir daily work; I know because the same thing happened to meafter the holidays. I contend that right now, more than any othertime of the year, millions of employees are making inquiries aboutcaregiving and long-term care needs. I know from experiencethat January and February are the busiest times of year forlong-term care providers to field questions about new policies. Arecaregiving matters something your clients are aware of, orprepared to address?

Related: 10 staggering statistics aboutcaregiving

According to AARP, one in six American workers is serving in aprimary caregiving role for a family member or friend. Nearly halfof those caregivers are Gen X or millennials. And the need forcaregivers will only continue to grow; in just ten years,older adults are projected to outnumber children for the firsttime in U.S. history.

Yet there remains a sizable gap between the caregiving benefitsemployers offer and what employees really need. What can you do toprovide the right type of benefits to effectively address theissues caregivers face and deliver the relief they are desperatelyseeking? For me, the issue of caregiving has been woven into thefabric of a career focused on voluntary benefits, but it's also hadan impact on a personal level.

The many faces of caregivers

Let's start with a quick look at your workforce, and the widerange of employees who are taking on caregiving responsibilities.They're people just like you and me who may:

• Find themselves in the sandwich generation—raising their ownkids while caring for aging parents
• Provide care for their partner during serious or chronicillnesses, like cancer treatment or managing Alzheimer's
• Step in to care for their grandchildren in their parents'absence
• Care for a child who is disabled or has special needs
• Serve as the primary caregiver of a parent because othersiblings live farther away

A recent study commissioned by Harvard BusinessSchool notes that it's women who shoulder a disproportionate shareof these caregiving responsibilities, whether it's working outsidethe home or in it. And with a rising number of families with asingle parent or two working parents, employees will have fewerresources to turn to as they are faced with greater caregivingresponsibilities.

Caregiving: It could happen to you

It's a delicate and often overwhelming balancing act, as well asan increasingly familiar scenario: an employee trying to hold downall the taxing duties of a regular job while juggling the oftenmentally, physically and financially exhausting role as a caregiverwhen they return home. While most of us recognize that our parentsare getting older and may need help eventually, it can still catchus by surprise when that day comes.

I've experienced this personally. I'm in my 50s, busy raisingtwo kids and I recently realized the time had come for my parentsto start considering some changes to their living arrangements.They just turned 80, and there are a variety of issues we'll needto navigate, like medical care, financial limitations, legalarrangements, estate planning, assisted living and long-term careoptions.

The myriad decisions related to all these facets ofcaregiving—and the time it will take to address them—seemsoverwhelming. I've worked in the financial services industry foralmost 30 years and I'm intimidated by the complexity and thedifficulties we face. Which leads me to the question, "What's theperspective of the average employee in your workforce?"

The drain on employee productivity

Unfortunately, helping employees address their personalcaregiving obligations is an approach employers almost entirely overlook as a mechanism formaximizing employee productivity and minimizing turnover.

As employees struggle to balance the responsibilities of workand caregiving, individual productivity suffers accordingly,inflicting a cost on the employer. Then, when the emotional andphysical stress becomes too much, their capacity for work becomesimpaired.

Additionally, it appears that employers have not fullyrecognized the connection between—and the serious results of—theburden of caregiving and the impact on employee performance. Forexample, in the Harvard Business School study, only a minority ofemployers (24 percent) responded that caregiving influencedworkers' performance. In contrast, more than 80 percent ofemployees with caregiving responsibilities admitted that caregivingaffected their productivity. As a result, American companies areimmersed in a caregiving crisis they may be largely unaware of.

The search for caregiving solutions

How can companies take those first few steps to create a culturethat supports caregiving?

First, employers must better understand the toll on employees'daily lives, and ultimately the cost in lost productivity, such astime away from work as well as presenteeism.

Second, recognize the changing demographics in both the caregiver populationand in those being cared for, as the U.S. population agesincrementally.

Finally, provide the types of the benefits—whether it'scaregiving provider referral services, employee resource groups,flexible time off or work arrangements—that will resonate most withemployees and help them deal with all the facets of caregiving.

However, offering dedicated caregiving benefits still seems tobe the exception rather than the norm for employers. In a 2018 SHRM employee benefits survey, only 10percent of employers indicated they provide elder care referralservices for employees, and a mere 2 percent provided backup eldercare.

What is the right mix of affordable and feasible caregivingbenefits employers can offer? Long-term care insurance is a greatproduct that provides significant caregiving benefits and somethingmany employers are still interested in. Yet it is usually anunaffordable option for most of the employee population.

The good news is there are other sources of support available.While most employers haven't taken advantage of them, some arediscovering that providing caregiving resources as a voluntarybenefit can help alleviate stress for their employees making thesedecisions, not to mention help them reduce the costs of care. Allof this leads to increased employee productivity and retention. Forexample, many corporate giants, such as Starbucks, Best Buy andTripAdvisor, have turned to third party companies such as Care.comto offer caregiving benefits.

Another way that companies can provide assistance is throughvoluntary benefits, such as legal insurance plans. Caregivingservices—like those that may be included with a legal insuranceplan—are an effective, affordable way to prepare for thefuture.

Caregiving services can offer a two-pronged approach to helpemployees navigate the medical challenges, lifestyle changes andlegal documentation that caregiving often entails. First, you canwork with a care advocate who will provide referral services, suchas help finding long-term care, assisted living or memory carefacilities. Secondly, the caregiver also has access to legalresources, including advice from an attorney or assistance withcreating or reviewing important legal documents like a will orpower of attorney.

With most legal insurance plans, employees also have access tohelpful online resources, ranging from educational articles that empower employees tolearn more about their legal issues to "do-it-yourself" documentsthat facilitate creating legal documents, agreements and contractson their own.

Overall, as you weigh the facts employers face today and look atthe changing dynamics of caregiving, simply ask your clients, "Whatcan we do to make these employees' lives easier, to take some ofthat pressure off them?" I'd respond by recommending that if youhave clients who are looking for a low-cost way to support theiremployees' needs, start by including some sort of caregivingsupport as part of their benefits package.

Dennis Healy is a member of the ARAG® executiveteam. Dennis is a passionate advocate for legal insurance becausehe has seen firsthand how it helps people receive the protectionand legal help they need. He has more than 25 years of insuranceindustry experience, with a primary focus on the sale of groupvoluntary benefit products to employer groups of all sizes throughbrokers, consultants and employee benefit exchanges.