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Centrica plc is working with Carers UK in a bid to help one million carers stay in or return to work by 2020.
Centrica and Carers UK are calling on the Government to introduce 5 to 10 days of mandatory paid carers leave for all employers.
Centrica estimates show that UK companies could save up to £4.8 billion a year in unplanned absences and a further £3.4 billion in improved employee retention by adopting flexible working policies to support those with caring responsibilities.
According to Carers UK, the number of people balancing care responsibilities with work has now grown to over five million people from the three million previously identified in 2011. However, the significant demands of caring mean that 2.6 million people have been forced to stop working altogether.