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Care.com and AARP Announce the Launch of the Care Institute

WALTHAM, Mass. & WASHINGTON--(BUSINESS WIRE)--Yesterday at the AARP Family Caregiving Executive Summit 2018 in Washington, D.C., Care.com announced the launch of The Care Institute, an innovative initiative to develop and launch care workforce training programs, creating new economic opportunities and meeting the rising demand for care. The Care Institute plans to work collaboratively with AARP, Boston Children’s Hospital and Care.com as well as First Lady of Massachusetts Lauren Baker, noted health care and technology executive Dr. Richard Berman, Sherri Burke, a registered nurse and home care expert, and seasoned business development executive Pauline Fischer, in order to fulfill on its mission to improve the lives of caregivers and families by helping to build a supporting care infrastructure that also provides meaningful career opportunities.

“Creating an infrastructure for workforce training is vitally important to both caregivers and families in need of help. I know from personal experience the challenges in finding professional care for loved ones, young and old alike, and I'm excited to help build a modern, tech-forward solution to this growing need.”

The demand for quality care – from child care to senior care – is soaring across the U.S. due to dramatic demographic and social changes. The data is compelling: More than two-thirds of children under age six do not have a stay-at-home parent; 10,000 people turn 65 daily; 90 percent of seniors want to remain in their own homes; and more than 27 million people will require some form of paid caregiving assistance by 2050. Despite these powerful indicators, the nation currently lacks the projected 1.3 million additional trained caregivers needed to meet this explosive demand. As a result, paid care jobs -- particularly personal and home health aides -- are projected to be the fastest growing job sector over the next five years, outpacing all others by 500 percent and making care a potentially potent economic catalyst.

In making the joint announcement, Sheila Lirio Marcelo, Founder, Chairwoman and CEO of Care.com, said, “Care can either be the fuel that propels economic growth for families, businesses and communities or the crisis that cripples our economy. Care.com and the coalition behind The Care Institute believe care is an economic engine and that it is essential we train this critical workforce. With a strong care infrastructure, we insure female participation in the workforce, help drive corporate productivity and grow GDP.”

Nancy LeaMond, AARP Executive Vice President and Chief Advocacy and Engagement Officer, said, “Today, 40 million Americans provide unpaid care to family members and friends so they can live independently in their homes and communities. It’s a labor of love, but it can also be a challenge. By increasing the availability of high-quality, reliable, and affordable care workers, The Care Institute will help make the big responsibilities of caregiving a little bit easier. And, for some, training and guidance from The Care Institute could turn the caregiving experience into a paid career.”

The objective of The Care Institute is to expand access to quality, affordable care solutions for families at every economic level by creating a national standard for training the next generation of care professionals.

Ms. Baker said, “Providing quality care for our loved ones is an incredibly important piece of the puzzle for every family. I am excited to work with the Care Institute to develop and launch care workforce training programs that can ultimately improve the wellbeing of families everywhere. Care training can provide good careers for workers and vital solutions for families who need help caring for loved ones.”

The Care Institute will partner with public, private and nonprofit organizations to develop and launch integrated workforce training programs that create new economic opportunities in local communities to meet rising care needs, while reducing care costs and improving the overall welfare of children and seniors.

Ms. Burke commented, “The graying of America creates a high demand for home care workers. Studies have shown that older adults prefer to stay in their homes as they age, making access to quality in-home care essential for them to live independently. Unless we address the shortage of trained home caregivers, we will be ill-equipped to meet the rising demand for home care for America’s seniors who unfortunately will potentially end up in costly hospitals, skilled nursing facilities or retirement facilities.”

Added Ms. Fischer, “Creating an infrastructure for workforce training is vitally important to both caregivers and families in need of help. I know from personal experience the challenges in finding professional care for loved ones, young and old alike, and I'm excited to help build a modern, tech-forward solution to this growing need."

About The Care Institute:
The Care Institute is a non-profit corporation committed to improving the lives of families and caregivers by providing standardized training and certification of caregivers, creating economic growth for a new generation of care workers. By building a trained workforce, The Care Institute will help increase female participation in the workforce by solving for one of the most substantial impediments to women in the workplace, care. For more information about The Care Institute, please visit: www.careinstitute.com.

About Care.com
Since launching in 2007, Care.com (NYSE: CRCM) has been committed to solving the complex care challenges that impact families, caregivers, employers, and care service companies. Today, Care.com is the world’s largest online destination for finding and managing family care, with 15.0 million families and 11.4 million caregivers* across more than 20 countries, including the U.S., UK, Canada and parts of Western Europe, and approximately 1.3 million employees of corporate clients having access to our services. Spanning child care to senior care, pet care, housekeeping and more, Care.com provides a sweeping array of services for families and caregivers to find, manage and pay for care or find employment. These include: a comprehensive suite of safety tools and resources members may use to help make more informed hiring decisions - such as third-party background check services, monitored messaging, and tips on hiring best practices; easy ways for caregivers to be paid online or via mobile app; and Care.com Benefits, including the household payroll and tax services provided by Care.com HomePay and the Care Benefit Bucks program, a peer-to-peer pooled, portable benefits platform funded by household employer contributions which provides caregivers access to professional benefits. For enterprise clients, Care.com builds customized benefits packages covering child care, back up care and senior care consulting services through its Care@Work business, and serves care businesses with marketing and recruiting support. To connect families further, Care.com acquired community platforms Big Tent and Kinsights in 2013 and 2015, respectively. Headquartered in Waltham, Massachusetts, Care.com has offices in Berlin, Austin and the San Francisco Bay area.

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Thursday, December 14, 2017