It's no surprise that a growing number of employees are reporting burnout from the demands of work and home, especially as the population ages and requires more care. According to the Family Caregiver Alliance, only 56% of carers inform their boss about their responsibilities at home.
We are committed at Alkermes to proactively recognizing and supporting our employees' well-being and responsibilities in all aspects of their lives. We believe that taking this approach allows our colleagues to bring their best selves to work every day.
According to recent research on the importance of work/life balance, almost every working person will require this type of understanding from their employer at some point in order to succeed, with women and people of color facing both the greatest need and the lowest likelihood of receiving it. We are also aware of the financial burden that caregiving can have on employees. For both men and women, leaving the workforce can result in a loss of more than $320,000 and $280,000 in lifetime earnings and benefits, respectively.
We can take actions that have been shown to have a positive impact on employees, such as implementing policies that allow people to attend to their home or familial responsibilities, providing robust benefits packages and leave policies that employees are encouraged to use, and cultivating a culture that includes positive senior role models to lean on for support and guidance when balancing work and home responsibilities.
As we evaluate and set corporate policies based on these findings, and as we juggle lives outside of work, it is critical that we help bring to life the most effective ways for organizations to show support for employees in their many roles "off the clock." Employers can use large and small, short- and long-term gestures to normalize and support colleagues throughout their organizations. Caregivers should not have to spend time and energy justifying their roles at work or face stigma; we must pave the way for people to move more easily between these various and important aspects of life.
Compassionate and proactive policies
We've been able to fully show up for and support our people - the heart and soul of Alkermes - by adopting several of these practices in recent years. Our policies are intended to give our employees the freedom to define the structure that will work for their individual responsibilities at home, which may have changed as a result of the pandemic.
We strive to communicate empathy and consideration for unexpected needs that may arise during the course of the workday. Our offices, for example, have designated private areas where employees can take phone calls related to their familial responsibilities or personal health.
We worked to make mental health counselling available with no co-pays when negotiating employee health plans, and we are proud to be recognized by Mental Health America as a recipient of the 2022 Bell Seal for Workplace Mental Health at the Platinum level, demonstrating our firm commitment to fostering a mentally healthy workplace for all of our employees. We have also collaborated with the Caregiver Action Network to support their vital work in raising awareness of the challenges that carers face.
We are committed at Alkermes to proactively recognizing and supporting our employees' well-being and responsibilities in all aspects of their lives. We believe that taking this approach allows our colleagues to bring their best selves to work every day.
According to recent research on the importance of work/life balance, almost every working person will require this type of understanding from their employer at some point in order to succeed, with women and people of color facing both the greatest need and the lowest likelihood of receiving it. We are also aware of the financial burden that caregiving can have on employees. For both men and women, leaving the workforce can result in a loss of more than $320,000 and $280,000 in lifetime earnings and benefits, respectively.
We can take actions that have been shown to have a positive impact on employees, such as implementing policies that allow people to attend to their home or familial responsibilities, providing robust benefits packages and leave policies that employees are encouraged to use, and cultivating a culture that includes positive senior role models to lean on for support and guidance when balancing work and home responsibilities.
As we evaluate and set corporate policies based on these findings, and as we juggle lives outside of work, it is critical that we help bring to life the most effective ways for organizations to show support for employees in their many roles "off the clock." Employers can use large and small, short- and long-term gestures to normalize and support colleagues throughout their organizations. Caregivers should not have to spend time and energy justifying their roles at work or face stigma; we must pave the way for people to move more easily between these various and important aspects of life.
Compassionate and proactive policies
We've been able to fully show up for and support our people - the heart and soul of Alkermes - by adopting several of these practices in recent years. Our policies are intended to give our employees the freedom to define the structure that will work for their individual responsibilities at home, which may have changed as a result of the pandemic.
We strive to communicate empathy and consideration for unexpected needs that may arise during the course of the workday. Our offices, for example, have designated private areas where employees can take phone calls related to their familial responsibilities or personal health.
We worked to make mental health counselling available with no co-pays when negotiating employee health plans, and we are proud to be recognized by Mental Health America as a recipient of the 2022 Bell Seal for Workplace Mental Health at the Platinum level, demonstrating our firm commitment to fostering a mentally healthy workplace for all of our employees. We have also collaborated with the Caregiver Action Network to support their vital work in raising awareness of the challenges that carers face.