With the number of seniors expected to rise significantly in the coming years, many adults will be tasked with providing care for their older relatives. Although the need for eldercare will be increasing, the Los Angeles Times reports that most small businesses are not prepared for the anticipated growth in numbers.
In fact, fewer than 10 percent of small businesses currently offer more than what's required by law when it comes to eldercare resources.
This may ultimately cost employers a lot of money, as workers may have to miss work or may be less productive due to the increased responsibility of caring for an ailing loved one. Recent studies have pegged the cost to employers at $33.6 billion a year because of workday interruptions and cutbacks in hours.
"The majority of families do the heavy lifting when it comes to elder care, so for business, small business in particular, this is a big problem," Bunny Dybnis, director of a Los Angeles company that provides home care for seniors, told the news source.
According to the U.S. Census Bureau, the elderly population is expected to be much higher in as little as 20 years, as the organization estimates 1 in 5 Americans will be over the age of 65 by 2030.