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Management Buzz 2/03

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

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

Respect TheirElders
The population's aging is having a stealth impact on business.Your employees frequently act as care-givers, call in sick to dealwith crises or spend time on the phone clarifying health-careissues. Such care-giving cost businesses $11.4 billion in lostproductivity 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, accordingto James Weil, managing director for successful aging at Westport,Connecticut-based LifeCare Inc., which assists companies with eventsthat disrupt employees' lives. The MetLife study indicatesfemale care-givers outnumber males 3 to 1.

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