Empathy Releases Annual 'Cost of Dying' Report for 2024

Empathy's data-driven report provides new insights into the burdens that families shoulder after a loved one's passing, including – for the first time – perspectives from employers about their approach toward bereavement in the workplace

NEW YORK, Jan. 17, 2024 /PRNewswire/ -- Empathy, the platform helping families navigate the emotional and logistical challenges of loss, today released its 2024 annual report, The Cost of Dying. This comprehensive report provides meaningful insights into the financial, logistical, and emotional costs faced by families who experience bereavement in the US today. This year's report also focuses on the experiences of employees who have gone through loss and the approaches companies take to support them during this challenging period.

For the first time, this year's Cost of Dying report includes detailed insights from hundreds of HR professionals working at companies of different sizes across a diverse range of industries. While 62% of organizations now have policies directly addressing bereavement, the specific benefits given by most of these only begin to address the true burdens of loss and its impact on the workforce. Of the companies surveyed, 43% offer no additional support beyond time off, and although grief professionals recommend at least 20 days off for those recently bereaved, the average time off offered was 5.6 days.

"We all confront the pain of loss at one point or another; however, when the moment arrives, most of us find ourselves unprepared for the profound impact it has on our families, our jobs, and our well-being," said Ron Gura, Co-Founder and CEO, Empathy. "Our latest research continues to underscore the immense impact of bereavement on employees, and highlights the critical need for extended support beyond paid leave. By leveraging these findings, companies can build a more compassionate environment for their employees, lessening their burdens and helping them when they need it most."

Loss affects all aspects of grieving families' lives, impacting their physical, emotional, and financial well-being. According to the report, 94.5% of those who have experienced loss report suffering from at least one symptom of physical or mental ill-health. These symptoms can persist for months, having a negative effect on daily life—nearly half of the bereaved reported stopping participation in some everyday activities. This strain extends to the workplace, with 47% of employees dealing with at least one negative repercussion at work, and 21% dealing with at least three, including having trouble concentrating and being less productive. Other notable findings include:

• The average person took 15 months to complete all the administrative tasks to wrap up their loved one's affairs, or 18 months if they were executor of the estate.
• The average family spent a total of $12,616 on expenses related to their loved one's passing. The highest single expense is the funeral, which costs an average of $5,666.
• 84% of those who experienced loss reported a negative impact on daily life; 35% withdrew from social circles, and 21% became estranged from family.
• 92% of executors said their work was impacted by the loss they had experienced; they were twice as likely as non-executors to experience a decline in their reputation at work, and twice as likely to have their hours at work reduced.

"This report, and the important insights it provides, complements Empathy's mission to change the way the world navigates loss," continued Gura. "By providing a comprehensive understanding of the multifaceted struggles faced by grieving families, from the complex processes they navigate to the persistent financial hardships they endure, we hope to raise awareness of the need for meaningful support to help those bereaved. As we continue our journey to bring full-circle bereavement support to as many families as possible, we aspire to foster open conversations, reduce stigma, and pave the way for meaningful societal change to support those coping with the realities of loss."

The Cost of Dying's findings are based on surveys of 2,000 respondents who experienced the loss of an immediate family member in the last five years, of whom 63.1% are employed, as well as 200+ company leaders and HR professionals. The complete report is available at empathy.com/costofdying.

About Empathy

Empathy is the comprehensive support system for loss, offering bereaved families holistic guidance and care for all of the administrative, emotional, legal, and financial challenges they face after their loved one passes away. Empathy's award-winning app and care team are trusted by leading employers and insurance carriers to support their employees and beneficiaries through life's greatest challenges, saving them time, money, and stress. Headquartered in New York and recognized as a Top Digital Health Company by CB Insights, as well as a Most Innovative Company by FastCompany, Empathy has raised $43 million in funding from leading investors including General Catalyst, Aleph VC, and Entrée Capital. To learn more about Empathy, visit us at empathy.com.

Empathy Media Contact
Ben Crome
[email protected]
+1 786 233 7684

View original content:https://www.prnewswire.com/news-releases/empathy-releases-annual-cost-of-dying-report-for-2024-302036982.html

SOURCE Empathy