Public Health England (PHE) and the Alzheimer’s Society have released a report from the Centre for Economics and Business Research (Cebr) which attempts to quantify the financial burden falling on the nation’s businesses from dementia.
Employers are advised of the need to adapt their working environment to support increasing numbers of employees, carers and relatives likely to be affected by the condition. Dementia caring obligations are projected to cost companies more than £3 billion per year by 2030.
” …the number of people who will 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 £415 million.”
Cost of dementia to companies predicted to double, report reveals. London: Department of Health / Dementia Challenge, August 8th 2014.
Businesses risk losing billions unless they adapt: report reveals the future cost of dementia. London: Public Health England, August 8th 2014.
“ …businesses which are not sufficiently dementia friendly will lose out. The value of the ‘dementia pound’, which is the spending power of households affected by dementia, is set to double to £22.7 billion by 2030, from £11 billion in 2014, due to the rise in the number of people affected by the condition”.
This relates to:
The rising costs of dementia. London: Centre for Economics and Business Research (Cebr), August 8th 2014.