With the number of Americans older than 65 expected to increase from 34 million to 62 million by 2025, more than 94% of the companies surveyed by the Conference Board, a New York-based research organization, expect elder care to be an increasing concern ...
With the number of Americans older than 65 expected to increase from 34 million to 62 million by 2025, more than 94% of the companies surveyed by the Conference Board, a New York-based research organization, expect elder care to be an increasing concern over the next five years.
Indeed, since 1991 the percentage of companies -- as surveyed by the Conference Board -- that offer elder-care programs has increased from 13% to 30%. One reason: Companies are trying to reduce productivity losses from time lost by employees to take care of elder parents -- which are estimated to be $11.4 billion annually. Why the high cost? Unlike child care, elder-care tasks have a greater unanticipated impact on work schedules and cause more absenteeism because of crises, deteriorating health, and the geographical distance between workers and their parents.
