Management Consulting

As employers in Asia adapt to new hybrid working models, they face the challenge of supporting employees with caregiving responsibilities, particularly in light of a rapidly ageing population. In Singapore, for instance, employees are spending an alarming 43% of their income on caregiving-related expenses, which is leading to significant mental health challenges due to the financial and time pressures involved. This situation is exacerbated by the cultural expectation of caring for older family members, which is prevalent in many Asian societies. To address these niche issues, Aon proposed a tailored solution that involves rethinking employee benefits to better support caregivers. This includes implementing flexible benefits programs that allow employees to choose from a range of options that best suit their unique family situations and stages in life. By moving away from a one-size-fits-all approach, employers can optimize their return on investment while ensuring that employees feel supported in their caregiving roles. The results of this approach are significant. By providing flexible schedules, additional time off, and access to telemedicine and employee assistance programs, employers can help reduce stress for caregiving employees. This not only enhances employee satisfaction but also increases productivity, as employees are better able to manage their responsibilities both at work and at home. Aon emphasizes that a comprehensive understanding of the challenges faced by caregivers is essential for designing effective support systems, ultimately leading to a healthier, more engaged workforce.