Have you ever felt that your role as a caregiver has prevented you from reaching greater success at work? If so, you're not alone. A study released in November confirms something most caregivers have known for years: aside from emotional and physical drains, acting as a caregiver often results in financial loss as well.

The study, conducted by the National Center for Women and Aging at Brandeis University and the National Alliance for Caregivers, is the first to detail financial losses for caregivers. Data collected from 30 of the study's participants, those who were able to provide detailed financial information, reflects an average loss over a caregiver's lifetime of $659,139 in wages, pension and Social Security benefits. The study's findings also suggest that two-thirds of people providing care for elderly relatives make significant work sacrifices.

Although the study involved 55 participants in total, it marks a break with previous studies which have focused primarily on what it would cost to replace a caregiver, not on the caregiver's losses. Many caregivers pass up promotions, pay raises and training opportunities, which over time ultimately results in the loss of wages and benefits.

In an Associated Press article, Dr. Phyllis Mutschler, executive director of the National Center for Women and Aging, was quoted saying "once a person has fallen off an earning trajectory, [he doesn't] tend to regain ground. We call it the caregiver's glass ceiling. We haven't decided as a society who should shoulder these burdens."

The study's subjects, who were all over age 45 and had been providing either administrative or physical care for an elder for at least 8 years, reported making frequent work sacrifices:

69% arrived late or left the workplace earlier than normal 67% took time off during the day to attend to an elderly dependent 64% used sick days or vacation time for caregiving duties 29% passed up a promotion or training assignment 25% had refused a transfer because of their caregiver duties 22% took a leave of absence 20% quit their jobs 13% retired early to devote more time to an elderly person

But while these numbers clearly reflect the sacrifices caregivers have made, they are not the only ones affected by this system. The decrease in worker productivity due to elder care has impacted corporate America with an estimated loss between $11 billion and $29 billion annually, according to Sandra Timmermann, a gerontologist for New York-based Metropolitan Life Insurance Co., the study's sponsor.

As studies such as this one continue to shed light on the situation, both companies and caregivers alike stand to benefit. In response to their employees' needs, many companies have begun to expand their employee assistance programs, offering benefits such as on-site care facilities and flexible schedules.

One of the most common approaches to elder care assistance is the "resource and referral program" -- a company-wide program that helps employees find care, and provides resources to help answer employees' caregiving questions. For example, Coopers & Lybrand, an accounting firm with 19,000 employees nationwide, offers its employees and their families a nationwide resource, referral, and consulting service designed to assist them with child care, parenting, elder care and work/life balance needs. At Bausch & Lomb, elder care resource and referral is among the most frequently used services provided by the LifeWorks program, an employee assistance program the company introduced in 1995.

By helping their employees balance work and caregiving duties, companies can begin to minimize their losses. And with the right resources, caregivers can continue to provide valuable assistance to their loved ones, without sacrificing their own careers.

Acknowledgement to Careguide for their kind permission to reproduce this article.

If you have any question/ concerns or need assistance contact your local Geriatric Care Manager: Sheri D. Fanning, RN,CMC at 269-5888 or e-mail to sheri@caremate.com