Family care needs are a growing concern for the nation's adults, and employers may need to adjust employee benefit plan administration and other policies in the coming years.
According to the Pew Research Center, 18 percent of the U.S. population will be over the age of 65 by 2030, compared to 13 percent in 2010. Simultaneously, many adults are choosing to have children later in life. Combined, Kaiser Health News notes, these two changes are responsible for the growth of the "sandwich" generation, adults who find themselves caring for their children and parents at the same time.
As this becomes more common, workers may find themselves more inclined to seek flexible work options and similar benefits. While the extent of care being provided varies – with some families living together, some living nearby and others seeking professional care – the demographic trend is likely to have a significant impact.
At the same time, that sort of care can add significantly to a household's expenses, which may cause employees to prioritize compensation more highly when considering job and career possibilities.
Another potential effect is that workers may confront their own retirement planning sooner as a result, and devote more attention to 401k plans and other investment and saving strategies.
