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Management Buzz 2/03

How elder caregiving affects your business; closing the door on an employee tax scam

This story appears in the February 2003 issue of Entrepreneur. Subscribe »

Respect Their Elders

The population's aging is having a stealth impact on business. Your employees frequently act as care-givers, call in sick to deal with crises or spend time on the phone clarifying health-care issues. Such care-giving cost businesses $11.4 billion in lost productivity in 1997, according to a study by Metropolitan Life. And the problem is only getting worse.

Firms with women in their 40s are the most affected, according to James Weil, managing director for successful aging at Westport, Connecticut-based LifeCare Inc., which assists companies with events that disrupt employees' lives. The MetLife study indicates female care-givers outnumber males 3 to 1.

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