The Impact of Alzheimer's Disease on The Workplace
David H. Crean
“Venturing Forward, Innovating for Impact” | GP @ 1004 | Venture Capital, Strategic M&A Advisory, Investment Banking | Board of Directors | Healthcare, Life Sciences, and Longevity
There are some staggering facts and figures related to Alzheimer's disease. It is the 6th leading cause of death in the United States and it is currently the only one in the top 10 that has no form of effective treatment or cure. More than 6 million Americans are living with Alzheimer’s, with that number projected to rise to nearly 13 million by 2050 (Alzheimer's Association 2021 ).?
With so many Americans affected by the disease, chances are you are directly affected or know someone who is including family members, loved ones, and caregivers. Eighty-three percent of all caregiving is done by family. Nearly 2/3 are women. Approximately 25% of caregivers are in the “sandwich generation”, caring for an aging parent and children under the age of 18. Roughly 18.5 billion hours of unpaid caregiving is valued at over $234 billion (Alzheimer's Association 2021 ).
It is a family, community, and business issue.
Alzheimer’s affects all ages, directly and indirectly. It is not just an elderly disease. Alzheimer's takes a big toll on people worldwide, including employees in the workplace (Economist, 2019) .?In the U.S. today, one in six employees is a caregiver and spends an average of 20 hours a week providing some kind of care.?Caregivers of people with Alzheimer’s or other dementias have reported work-related changes such as having to come into work late, take time off, or cut back on their hours due to their caregiving responsibilities.?This highlights why companies must be cognizant of the impact and take an active role to provide support for their employee base.
Recently, the Alzheimer's Association of San Diego and Imperial Counties convened a panel and hosted an educational webinar entitled, "The Impact of Alzheimer's on the Workplace." The esteemed panelists including Dr. Lisa Delano-Wood , Julie Fletcher , Dawn Barry , and Ryan Barnhill . Yours truly served as moderator for the event. The panelists covered a broad range of topics that included their views from different perspectives including human resources, clinical support, business, and financial.
To view the webinar, please access the link here (Passcode:?5.@Pv$O7)
Why are Alzheimer’s rates set to dramatically increase in the next decade?
"We are expected to witness a 50% increase in people with Alzheimer's disease", stated Dr, Delano-Wood. "What we're seeing is that the population is aging faster than ever. In 2016, we hit this nexus point where we had more older adults in our society than we had children under age nine." Life expectancy has increased dramatically and so just in a given population with the number one risk factor being older age or advanced age, you're going to see more people in a society afflicted with this particular disease.
Recent studies indicate how caregivers are taking the brunt of the impact of this disease.
There is more funding and studies being devoted to this vulnerable population because the studies show overwhelmingly that the people caring for others are really taking the brunt of the impact. Very often caregivers are having to quit their jobs because they can't quite perform all of their work obligations. Dealing with the afflicted patient becomes all-encompassing and very challenging. "The caregiver's entire life is revolving around patient care, while they're ignoring their own health and wellness", stated Dr. Delano-Wood.
Caregiving becomes a full time job as the disease advances and progresses.
What is the prevalence of employees who are also primary caregivers for someone living with Alzheimer’s or other dementias?
"The prevalence is about 20-25% of the employee base, so 1 out of every 4 or 5", stated Julie Fletcher, Chief Talent Officer at AMN Healthcare. "It's important for companies to be aware that people are going through this, it's real and you can't ignore it or put your head in the sand." Employers have to pay attention to this issue. The other important statistic is the impact on women and the disproportionate load on women. About 60% of all caregivers are women.
A recent Harvard study shows that 32% of workers have left a job because of caregiving responsibilities. The majority of those were highly paid men between the ages of 25-35, though women bear the brunt of caregiving responsibilities. Half of the people between the ages of 26-35 have left jobs to care for a family member; for those between 18-25, that figure is 27%.
What challenges does family caregiving present for employees and employers?
Employees balancing work and caregiving may require frequent absences and may need to spend time during work hours to set up appointments, consult with doctors, etc.?This balancing act can take a toll personally and professionally on employees. Often caregivers don’t want to discuss their situation at work for fear of appearing less available and committed to their job. This can lead to isolation and depression. This in turn can lead to illnesses causing further problems and higher healthcare costs for the employer.
As a leader, you need to know your people, and what they're going through so that you can show empathy and support. Be there for them and be flexible and truly try to understand their stress.
Why should companies care about the Alzheimer’s crisis?
"In the coming years, millennials will only face more pressure to drop out of the workforce as the demands of caring for their aging parents grow", stated Dawn Barry, President of LunaDNA. "Employers need to provide assistance if they want to remain productive. Alzheimer's has risen up as the most feared disease and we need to rise up to help support our employees that are impacted."
So what can employers do?
Employers have a unique opportunity to support employees in managing the continuum of their care-related obligations that can also reap rewards in the form of an engaged and productive workforce, a competitive edge in retaining and recruiting employees, a reduction in healthcare costs, and an increase in employee loyalty. What recommendations should be considered:
What is the financial impact of Alzheimer’s disease on the families?
As mentioned previously, a large majority of the help provided to older adults in the U.S. comes from family members, friends, and other unpaid caregivers. "The total lifetime cost of care for someone with dementia is estimated to be $341,840, with the costs associated with family care to be 70% of lifetime dementia care costs", stated Ryan Barnhill of Edward Jones. So the financial impact is significant. In fact, Edward Jones completed an internal study and discovered an estimated 300,000 of their clients actually are directly impacted with the disease, regardless of whether they are actual afflicted patients or are caregivers.
To support early detection, Edward Jones provides the Alzheimer's Association's "10 Warning Signs of Alzheimer's" online education program to its financial advisors. In turn, Edward Jones financial advisors host joint seminars with the Alzheimer's Association in their communities on ways clients and caregivers can protect health and wealth when facing a long-term illness.
What can each one of us do to drive impact?
There are numerous ways to drive impact. Get involved and make a difference. Community support can be achieved through team-building activities, for example. Support employees to get out and do something together that’s meaningful.?Learn to connect much more deeply to your co-workers and mission.?Encourage families to join so co-workers so that bonds can be forged across families. One day we're going to live in a world without Alzheimer's because all of us are working together.
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About the Alzheimer's Association
The Alzheimer's Association leads the way to end Alzheimer's and all other dementia — by accelerating global research, driving risk reduction and early detection, and maximizing quality care and support. You can join the cause by:
To explore how you can get involved, please visit https://www.alz.org/sandiego or call 800.272.3900 .
Corporate Event Producer / Emcee / Singer-Songwriter / Magician / Homeless Advocate / Sleeps Occasionally
2 年David, thanks for sharing!
This is a wonderful brief, David H. Crean! Thank you for your leadership and commitment.
Certified Financial Planner? and Wealth Advisor
3 年Thank you so much for creating this article David H. Crean, it's a great read! And it was an honor to work with such a passionate group of people. Alzheimer's Disease reaches much farther into our lives, where many of us may not even realize, until we are in the thick of it. Thanks again David, excellent all around.
Director Founder of Axanton Technology GmbH
3 年First of all, we should accept that the chemically modified proteins lead to amyloid aggregation (www.axanton.com). MEMS removes the modified proteins and stops the aggregations, and prevents memory loss. This fact is the basis for the aging-associated pathology. We can discuss a lot, but without acceptance of the aging-associated pathology and infection mechanism, the population's health will decline.
Wireless Technology Public Policy Expert
3 年Thanks very much for posting this, David H. Crean. It was my pleasure to participate in this important event with you, the other speakers, Katie Croskrey, MNM, Joanie Ewing, & the rest of the great team from the Alzheimer's Association San Diego/Imperial?Chapter. Such a large number of employees have been or are impacted by Alzheimer's at Qualcomm, and I'm proud of the initiative we started to support those employees.