Aviva, an EfC member, has launched new research that suggests an estimated 2.6 million employees aged 45 and over expect that they will have to leave their jobs in order to care for a relative or partner.
Many mid-life employees are opting to take on their relatives’ care duties themselves as a means of minimising care bills, but this decision is coming at the expense of their career.
Women are set to see their careers curtailed by having to leave work to care for a relative or partner to the greatest extent, with a fifth (20%) expecting to leave work for this reason, compared with 17% of men.
‘Sandwich generation’ faces caring pressures at both ends of age spectrum
It’s not just the care needs of older relatives that mid-life employees are having to contend with, as those aged 45 and over are facing care demands from both ends of the age spectrum.
This highlights the pressures being faced by the so-called ‘sandwich generation’ as they look to support both younger and older generations.
Despite the care conundrum expected to cause one in five employees to leave their jobs, just 6% of UK employers consider care pressures a significant issue being faced by their mid-life workforce.
Lindsey Rix, Managing Director at Aviva comments:
“The practical, financial and emotional costs of caring for relatives both young and old are forcing many people in mid-life to make increasingly difficult decisions about balancing their commitments. Mid-life is the fastest growing age demographic in the UK workforce, so we can expect these pressures to grow.
“We have introduced Mid-Life MOTs to provide our people aged 45-60 with targeted guidance on the management of their wealth, work and wellbeing; and we are piloting a partnership with “Super Carers3” to help our people navigate the care landscape.
“As the UK population ages, the number of carers at work can be expected to grow. It is concerning to see that only a small percentage of employers are prioritising the issue of care. The need to care for carers must rise up our list of priorities.”