New research from Alzheimer’s Society (UK) has revealed that businesses in England lost GBP 3.2 billion last year, because people had to quit their jobs or change their working patterns to care for someone with dementia.
Alzheimer’s Society commissioned a report from the Centre for Economics and Business Research, with support from Legal & General, to investigate the impact on English businesses, of carers and people with dementia leaving the workforce or reducing their work hours.
Of the 355,000 people of working age caring for a loved one with dementia, more than 147,000 have had to reduce their work hours, or have had difficulty balancing work and caring. Over 112,000 people have had to give up their jobs, with many retiring early, because of their caring commitments.
The research revealed that the cost of dementia to English businesses has increased by GBP 1.6 billion in the last four years and is set to rise to GBP 6.3 billion by 2040.
There is a noticeably disproportionate impact of care on women. Two-thirds of carers of people with dementia are women, and the loss of their skills and experience costs English businesses GBP 1.9 billion in 2019 - higher than the GBP 1.4 billion cost by men reducing hours or leaving the workforce, despite earning on average GBP 11,000 less (per annum).
This evidence helps build the case that support for carers is essential, not just for improving wellbeing for carers themselves, but also recognising the wider effects of lack of access to formal care.
Alzheimer’s Society stresses that the UK Government needs to take action urgently to Fix Dementia Care and deliver proper support for carers.
Read the report in full: https://www.alzheimer-europe.org/var/plain_site/storage/original/application/415e2dc1bce274db615834acba5cfd8e.pdf
Find out more about the Fix Dementia Care campaign: https://www.alzheimers.org.uk/get-involved/our-campaigns/fix-dementia-care
