Magazine article Management Services

Dementia Will Cost Employers over £3Bn

Magazine article Management Services

Dementia Will Cost Employers over £3Bn

Article excerpt

A recent report by the Centre for Economics and Business for the Alzheimers Society, has predicted that a growing demand on workers to provide dementia care to relatives, will cost companies more than £3bn.

As the population of England ages, the number of people with dementia is expected to rise to 1.09 million by 2030, according to the report, which predicts that this will have a huge impact on businesses, as the number of workers reducing hours, changing work patterns or even quitting, due to the demands of caring, is expected to grow.

Findings also showed that the number of people likely to have left employment to care for people with dementia is set to rise from 50,000 in 2014, to 83,100 in 2030. Yet, if companies increased their employment rate of dementia carers by just 2% over the years to 2030, for example by offering more flexible terms of employment, the retention of these skilled and experienced staff would deliver a saving of £415m. …

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