As a small business owner, you understand how important each of your employees is to the success of your enterprise. And often, the most valuable, experienced employees are in their 40’s and 50’s – just the group that’s also likely to be part of the “sandwich generation.”
So, what happens when one of your employees has an elderly parent who falls ill, and needs substantial care and support? Caring for an elderly parent, particularly while running a household that includes children or teenagers, can be incredibly taxing. And while most employees who find themselves in this situation don’t leave their jobs, they often reach a point where something’s got to give – and often, this means relying on their employer to help out with flexible work arrangements or other forms of assistance.
You know that having your own, personal incapacity plan is important, and you know that it’s essential to have a succession plan in place when the time comes for you to exit your business. But have you thought about how you, as an employer, would deal with the life changes that your employees encounter when they become family caregivers?
The National Caregivers Library provides a wealth of information and resources geared toward employers planning for just this situation. It’s worth a look.
Stephen A. Mendel, Estate Planning Attorney
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