A High-ROI Employee Benefit: Estate Services for the Sandwich Generation

2024 3 min read

In today’s competitive landscape, attracting and retaining top talent requires more than traditional benefits. Leading employers are embracing innovative solutions like estate services to differentiate their offerings and support their workforce. Amazon Canada’s recent adoption of estate planning benefits underscores the growing importance of addressing the needs of the “sandwich generation”—those balancing the care of aging parents and dependent children while navigating demanding careers.

The Sandwich Generation’s Struggle

The pandemic amplified the challenges faced by the sandwich generation. These employees are stretched thin emotionally, financially, and physically, leading to stress that affects both their personal and professional lives. Key issues include:

  • Lack of Estate Planning: Nearly 70% of adults do not have an updated will or power of attorney, leaving families vulnerable to costly legal disputes and emotional distress.
  • Financial Strain: Caregivers spend an average of $7,242 annually on care-related expenses, with 50% of those costs being out-of-pocket (Source: AARP).
  • Emotional Toll: Burnout from caregiving responsibilities leads to absenteeism and presenteeism, costing U.S. companies an estimated $33.6 billion annually in lost productivity (Source: Harvard Business Review).

The Role of the Great Wealth Transfer

The ongoing $84 trillion Great Wealth Transfer—a shift in wealth from baby boomers to younger generations—is reshaping workforce dynamics in North America, Europe, and Asia. Employers must adapt by offering benefits that alleviate financial stress and support estate planning, enabling families to navigate this massive generational shift with confidence.

The Value of Estate Services

Estate planning and digital estate tools, such as wills and powers of attorney, offer measurable benefits:

  • Reduced Stress: Employees with access to estate planning report a 50% reduction in caregiving-related stress.
  • Improved Productivity: Workers equipped with estate solutions take 30% fewer days off to handle family crises.
  • Increased Engagement: Employees with peace of mind from estate planning are 20% more engaged, directly boosting workplace performance.

Signaling Care and Attracting Top Talent

Offering estate services sends a powerful message to employees and prospective talent. Employers who prioritize family-oriented benefits can:

  • Enhance Employer Branding: Differentiate themselves as leaders in workplace well-being, making them magnets for top-tier candidates.
  • Increase Retention: Employees who feel supported by their employer are 20% less likely to seek opportunities elsewhere (Source: SHRM).
  • Foster Multigenerational Loyalty: Estate services engage not just employees but their families, fostering enduring relationships and loyalty.

How Inheritus.com Can Help

Inheritus.com makes it easy and affordable for employers to integrate estate services into their benefits packages. Our platform offers:

  • Comprehensive Estate Tools: We create a full picture of an estate, enabling families to navigate life’s most challenging transitions seamlessly.
  • Affordability: For just cents per month per client, our solution delivers significant ROI.
  • Ease of Deployment: Ready for same-day implementation, our platform requires minimal effort to integrate. For organizations seeking additional support, we offer change management plans to ensure a smooth rollout.
  • Lead Generation: Estate services generate valuable leads for complementary offerings such as life insurance, wealth management, and tax planning, further enhancing the value for both employers and employees.

Why Wait? Future-Proof Your Benefits Today

Amazon Canada’s move to offer estate planning benefits is just the beginning of a broader trend. As the Great Wealth Transfer continues to reshape the workforce, forward-thinking employers have a unique opportunity to lead the way in supporting their employees and their families.

Invest in estate services to boost productivity, reduce stress, and attract the best of the best. Contact Inheritus.com today to learn how we can help you transform your employee benefits, engage families across generations, and drive lasting success.

For more insights, explore our Estate Planning Solutions for Employers and learn how we’re redefining the future of employee benefits.

Richard Sanders, CPA, CA, CBV is a seasoned professional and Partner at a leading global Accounting firm, bringing over 35 years of invaluable experience to the advisory board. With a background in Accounting & Finance, he has demonstrated a keen sense of the challenges to business management and growth throughout his career.

Having held key partnerships with several Accounting firms, Richard has a proven track record of success in advising businesses in areas ranging from Audit to Internal Controls, Tax and Valuations. His strategic thinking has been crucial in guiding organizations through periods of startup and growth.

As an advisory board member, Richard provides strategic counsel and invaluable insights on Audit, Finance and Accounting. His expertise and vision play a vital role in shaping the organization’s strategy and driving sustainable growth over the long term.

Richard holds a Bachelor of Accounting & Business Management from the University of Toronto. He continues to stay at the forefront of the Accounting industry’s developments through ongoing education and professional development initiatives.

Richard’s passion for success and his commitment to guiding businesses make him an invaluable asset to the advisory board.

Bob is a distinguished leader in Software M&A, bringing over 40 years of invaluable experience to the advisory board. With a background in the Canadian & US Information Technology sectors, he has demonstrated a keen understanding of the challenges driving business innovation and fostering growth throughout his career.

Having held prominent roles within the Fortune 500, Bob has a proven track record of success in supercharging business growth. His strategic acumen and forward-thinking approach have been instrumental in guiding organizations through periods of change and transformation.

As an advisory board member, Bob provides strategic counsel and invaluable insights on business development, partnerships and strategic alliances. His expertise and vision play a vital role in shaping the organization’s long-term strategy and driving sustainable growth.

Bob holds a BSc in Physics and Mathematics from the University of Ottawa. He continues to stay at the forefront of the Information Technology industry’s developments through ongoing education and professional development initiatives.

Bob’s passion for excellence and his unwavering commitment to the Software Industry make him an invaluable asset to the advisory board, driving the organization’s mission and vision forward with clarity and purpose.

Request Quote

Login
Sign Up