Businesses can potentially save millions on their bottom line by adopting flexible working practices and supporting staff with caring responsibilities, according to a new study.
Presenting its research to industry representatives at BT offices, Carers UK and the Action for Carers and Employment (ACE) national partnership argue that there are many benefits for employers who support carers at work.
There are currently 6 million carers in the UK, over 3 million of whom combine their caring role with paid employment.
The study found that those businesses that have supported flexible working practices have reduced levels of employee stress and sick leave in some cases by up to 26%.
Likewise, worker productivity in these offices has improved significantly, according to the report, with some businesses reporting boosts of up to 20%. This equates to an extra £5m-£6m on the company’s bottom line, Carers UK said.
“We have been campaigning for many years to make sure the needs of working carers are kept high on the policy agenda,” said Imelda Redmond, chief executive of Carers UK.
“Employers can deliver effective support for carers, and far from compromising their business objectives, this can bring impressive business gains. It is critical business leaders recognise this.”
Redmond added that small companies, in particular, can implement flexible working practices more effectively than their larger rivals because they know their staff well and feel the effect quicker if a member of their team leaves.
In addition, the study found that companies using such practices attract and retain more talented staff, which in turn cut the cost of recruiting and training new members of staff.
