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Eldercare services become new preferred post-pandemic employee benefit

More companies are offering health coverage and other benefits for parents and in-laws as they seek the return of employees to the office.

September 01, 2023 / 14:33 IST
A recent study by CIEL HR Services found that apart from inadequate support for childcare, caring for the elderly continues to be a hindrance for women to progress in their careers in the startup ecosystem.

In the race to deliver out-of-the-box employee benefits, eldercare services are finding a prominent place in India Inc’s HR policy.

Eldercare service providers are reporting a surge in sign-ups by companies, especially in the tech sector, to offer their employees such services. The offers encompass support for elderly parents and relatives through comprehensive insurance coverage, community-based platforms, and healthcare assistance, among others.

“Post-Covid, people realised that their parents have become a little bit frail after spending a substantial time with them. As companies are asking their employees to come back, they're trying to also deal with a lot of family emotions and finding avenues to have peace of mind that their parents are safe in their absence,” Tarun Sharma, founder of Yodda Elder Care Technologies, told Moneycontrol.

Although Pune-based Yodda is in discussions with manufacturing and finance and insurance companies, interest in eldercare services is much higher in the information technology sector. The firm recently tied up with GlobalLogic, a Hitachi company, to offer the Yodda Enable app, a community-based platform to offer assistance to seniors through their own personal support network.

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Yodda Enable stores vital information about elders such as medical records, KYC documents, and insurance policies and provides access to them to families and doctors during an emergency, based on individual privileges. The eldercare benefits package includes convenience services, interactive and supportive communities, and access to Yodda’s partner network.

Back to office

So far, the response among GlobalLogic employees has been positive and over 200 employees have availed of the service within 20 days of launch.

“We are trying to get everybody back into the office. This intervention will help because the world has become a bit more disruptive post-pandemic. In this scenario, anything that can help you with dealing with such ambiguous situations, which are difficult and lead to affecting your mental well-being, is always welcome,” said Rajesh Rai, head of HR at GlobalLogic.

Various companies are opting for health coverage for not only the parents of employees but their in-laws as well. This is not limited to large companies – startups too are eager to offer this benefit.

A recent study by CIEL HR Services found that apart from inadequate support for childcare, caring for the elderly continues to be a hindrance for women to progress in their careers in the startup ecosystem.

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At healthtech startup Connect & Heal, geriatric specialists offer medical guidance and services and families receive regular health updates regarding their elderly dependents' conditions and any medical incidents.
Since loneliness is a common issue among the elderly, Connect & Heal offers a concierge facility.

“Participation rates have consistently grown, reflecting the relevance and value of the offerings. Numerous employees have enrolled their elderly family members, affirming the importance of accessible and tailored healthcare solutions,” said Galveen Kaur, co-founder of Connect & Heal.

UTI Asset Management Company provides hospitalisation benefits to dependent elderly family members of employees and some of them are also allowed domiciliary medical benefits for elderly dependent family members.

Under its flexible benefits programme, pharma company Novo Nordisk’s employees are entitled to Rs 50,000 over and above what they are paid to invest in any of the options of physical and mental wellbeing, childcare, and eldercare.

Abhishek Sahu
Abhishek Sahu covers HR and Education (Careers) at Moneycontrol. He can be reached at Abhishek.Sahu@nw18.com and @Abhishek44sahu.
first published: Sep 1, 2023 02:33 pm

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