First-of-Its-Kind Family Care Academy Elevates New Employer-Led Solutions for Working Women & Families
ATLANTA, July 13, 2021 (Newswire.com) - EHIR (Employer Health Innovation Roundtable), a coalition of the world's leading employers, and Magnify Ventures, a pioneering venture capital fund focused on caregiving & family technology, have announced a new partnership. Together, these teams are launching an Academy program specifically focused on accelerating the employer adoption of innovations in caregiving innovation. This relationship comes during what some have dubbed the "great HR awakening" as the COVID-19 pandemic shines a powerful light on the realities of being a working parent.
The EHIR and Magnify Ventures Academy will highlight a range of innovative, technology-enabled benefits and solutions to help employers support working families and caregivers. Building on lessons learned and growing employer interest in new solutions across areas like childcare benefits, household management tools and caregiver support, the Academy will combine customized advisory, expert-led content, and unmatched exposure to the incredible work of nine hand-selected teams.
For early-stage, technology-enabled companies focused on emerging caregiving and family benefits solutions, this new Academy provides an unrivaled opportunity for them to mature their offering in collaboration with industry-leading stakeholders. For more information on the Academy or the experts at Magnify Ventures, please email EHIR@ehir.com.
For millions of Americans, the pandemic triggered a costly caregiving crisis, with working parents leaving their jobs as childcare options dwindled and remote school stretched on, underscoring long-standing caregiving challenges for working families. For the millions in the "sandwich generation" who are caring for both children and an aging relative, the demands were even higher. With 44 million Americans serving as both caregivers and employees, experts estimate a total of $25 billion in lost productivity annually in the U.S. even before the pandemic. Working women — and mothers in particular — who continue to manage a greater share of caregiving and household labor in the U.S. — were especially impacted by the COVID-19 lockdowns. Over 80% of those who left the workforce during the pandemic were women.
As the U.S. reopens, employers are reevaluating the unprecedented and costly challenges their workers have faced, especially working caregivers, and the implications of those challenges on productivity, talent, competitiveness, and workplace culture. Many employers are looking to emerging, technology-enabled solutions to reduce caregiving challenges while making their workplaces more family-friendly.
As noted by the managing partners at Magnify Ventures, "The pandemic has put a bright spotlight on the caregiving crisis in this country and the implications for everyone, including businesses. We are proud to sponsor this Academy in partnership with EHIR and leading employers who are advancing innovative new solutions to support working parents, caregivers for the disabled, and those caring for older adults," said Julie Wroblewski, Managing Partner, Magnify Ventures.
Employers seeking new solutions can visit EHIR.com for more information about Membership and how to leverage the EHIR model to expedite finding the best in emerging technology across caregiving and more.