Women – Don’t quit your job over eldercare!

• January 16, 2025

For women, eldercare should not mean sacrificing your career

Caring for aging parents is a job that falls heavily on women – the majority of whom are still in the workforce, climbing the proverbial career ladder. The demands of eldercare can pile up with little warning or predictability and quickly become overwhelming. It’s no wonder that many women – often those at the height of their career – find themselves facing the difficult decision of whether to leave the workforce to care for aging loved ones. However, while leaving the workforce can feel like a quick fix, it can have long-term consequences—financially, emotionally, and professionally.

Before making this decision, we want to highlight the potential costs of stepping away from work and share options that can help women care for aging parents or loved ones without giving up their careers.

The Obvious – and not so Obvious – Impacts of Leaving the Workforce

Finding adequate and cost-effective childcare is a major reason women exit the workforce, but it turns out that roughly 40% of those who resign over caregiving challenges are exiting due to eldercare. Again, these are most often women further along in their career, with higher salaries and benefits.

The most obvious impact of this decision is the direct financial loss. Not only the loss of the monthly paycheck but also diminished contributions to savings AND increased expenses (to the tune of $7K annually on out-of-pocket caregiving expenses). Women who exit the workforce stop contributing to retirement accounts and 401k’s (often with generous company matches) as well as cease to accrue Social Security benefits. According to a 2011 joint report by MetLife and the National Alliance for Caregiving, it’s estimated that women who leave their jobs to care for aging parents lose an estimated $325,000 over their lifetime.

Additionally, exiting the workforce comes with professional setbacks that may be hard to recover from. Studies show that women who take time off for caregiving often find it difficult to re-enter their fields, and when they do, they may face lower wages, fewer opportunities for advancement, or the need to start in less demanding roles.

Quitting May Not be the Best Option

Balancing work, children, aging parents, mental and physical health, a “clean” home, and the semblance of a social life – it’s simply not sustainable. It would make Superwoman run for the exit. It’s no wonder that women leave their jobs in order to quickly take something off their plate. But before putting in your notice, let’s talk about resources and options that may be available.

Workplace Benefits.

Find out what your company offers. Some offer one or more of the following:

• Flexible work schedules
• Paid caregiver leave (sometimes through FMLA)
• Employee Assistance Programs (EAPs) that provide counseling and eldercare resources.
• Care coordination platforms and backup care
• Employee Resource Groups for caregivers, offering a safe space to share experiences and tips for managing eldercare. These groups can be a lifeline for employees who feel isolated in their caregiving roles.

Help from Friends & Family.

Circle up the wagons. Don’t be afraid to ask for help from family, friends and neighbors. While it might take a bit of coordination, they may be more than willing to help. There are some free resources that can help with coordination, like the app Lotsa Helping Hands.

External Support Systems

There are local and national organizations that can provide assistance. Naborforce is one of these organizations – our founder Paige Wilson lived all of the stark truths discussed in this article, and that is why she decided to do something about it! And if Naborforce isn’t in your area or isn’t an option for you – there are other resources to check out: care.com, Bright Horizons, home care agencies, caregiving forums, etc.

Heads up Employers! The Demands of Eldercare are not Going Away

Today, one in four employees is caring for an aging parent. Over the next 5 years, two in four will be. The responsibility will fall heavily on the shoulders of female colleagues, and they are going to need support from their employers.

While employers have made strides in supporting working mothers, the unique challenges posed by eldercare have been largely overlooked. The emotional toll of eldercare can range from simple day-to-day help to more challenging support with illness, dementia, and end-of-life care. And it’s often hidden from employers. It’s clear when employees are juggling childcare, but many people are reticent to share personal challenges associated with eldercare.

Employers play a crucial role in supporting women who are caregivers. Yet, 79% of caregivers do not have access to benefits that support them in this role. One quick win for employers? Consider a Naborforce partnership to secure discounted rates for your workforce! And in the longer term, we encourage all employers to offer comprehensive, accessible caregiving benefits that include both childcare AND eldercare options.

The Bottom Line: Explore Options before Making a Potentially Costly Decision

While caregiving can feel like an all-consuming role, women should not have to choose between their careers and their families. By tapping into workplace benefits, seeking flexible arrangements, and exploring external resources, women can navigate the challenges of eldercare without sacrificing their professional futures.