4 steps companies need to take right now to support employees who are caring for children, elderly, or sick family members during the coronavirus pandemic

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There are 43.5 million caregivers in the US alone.

• Many employees are juggling having to work and take care of their loved ones during the coronavirus pandemic.
• About 43.5 million caregivers in the US are likely to be impacted by the virus outbreak in some form, according to the National Alliance for Caregiving.
• Two chief executive officers at caregiving resource companies shared the exact steps manager can take to support employee caregivers - and that includes having empathy and providing flexible work hours.
• Join Business Insider on Thursday at 12 p.m. ET for our digital live event "Leading From Home," where we'll be talking with WorkBoard founder Deidre Paknad and Chatbooks founder Nate Quigley about how to lead remote teams amid the coronavirus crisis.
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The novel coronavirus outbreak has forced nearly 43.5 million caregivers in the US to make difficult choices regarding the care of their vulnerable loved ones.

Caregivers care defined as anyone who has responsibilities to care for children, parents, grandparents, and even friends, according to the National Alliance for Caregiving. And it's a growing population of people in the US.

As the aging population increases and young professionals struggle to achieve financial independence, experts at Pew Research Center predict that nearly 50% of Americans between ages 40 to 50 will be squeezed into the sandwich generation and have to support both an elderly family member and a child. A 2019 Harvard report further noted that this burden will increase due to soaring care costs, unpaid sick leave, and the lack of benefits for working caregivers.

As coronavirus continues to spread and more people are working remotely, employees who are also caregiving will likely face a worsened financial and emotional toll, experts told Business Insider.

Schools across the country are shutting down, and the lockdowns at nursing facilities prompted many Americans to bring their parents and grandparents home. Additionally, an estimated 2.25 million Americans will be jobless by this week, leaving people under worse financial conditions.

Lindsay Jurist-Rosner, CEO of caregiving resource platform Wellthy, told Business Insider that many caregivers are feeling the impact of the pandemic because social distancing has made many resources like childcare, grocery delivery, and in-home support, unavailable.

"They're now juggling work-related duties, homeschooling kids, providing therapy support for a child with special needs, or quarterbacking care for an older parent who may not have their usual in-home aide or may be isolated in their assisted living facility," she said.

Business Insider spoke with Rosner and Michael Walsh, cofounder and CEO at caregiving support company Cariloop, about how companies can support these workers.

Here are four things you need to know.

Have empathy

The COVID-19 pandemic is impacting everyone. Some more than others. Walsh told Business Insider that the first step employers can take is to be empathetic.

"People are trying to work, but they're also trying to be great parents and great caregivers," he said. "For employers who are trying to embrace that fact - you should let them know that you want to help and support them through all of this."

It really comes down to your company's culture, he added. Keeping an open line of communication with your employees can inspire your team to be more productive and honest about what they can and can't handle during this time.

Recognize that people have lives outside of work, and that they are all impacted to some degree, he said.

Offer flexibility

A 9-to-5 schedule often won't work for caregivers.

Walsh recommended that you let employee caregivers segment their schedules so that they can be with their loved ones at certain points of the day. For example, they can block off the first hour and a half in the morning to do homeschooling and focus on being present with their kids and then come back to work, he said.

But also be mindful that there are many aspects of caregiving that can't be scheduled, Jurist-Rosner said. If an employee needs to step away at certain times, make sure you reiterate it's okay.

Create resource groups for people to share their experiences

Jurist-Rosner recommended that you create employee resource groups specifically for caregivers, so that workers are more willing to share their experiences and reach out for help during this crisis.

"If employees are working from home, employers can continue to provide virtual support through virtual gatherings and speakers, manager training on how to talk about caregiving, and more," she said.

She stressed that employers should highlight telehealth benefits that are offered under insurance plans.

Expand benefits for caregivers

Providing funds for employees to help pay for child or elder care is another way companies can help ease the burden on caregivers. Some employers are already doing this.

For example, professional-services firm PricewaterhouseCoopers (PwC) added a $2,200 emergency childcare support fund for its employees. That money can be used to balance work and family needs, and $1,000 of it can also be applied to elder care reimbursement, the company told Business Insider.

Financial services company TIAA increased its backup care benefits for children and elders from $65 to $100 a day, the company said. Caregivers will receive this benefit for an unlimited amount of days until April 10.

Sick leave is another benefit that can help employees take the time they need to care for a sick family member. A growing list of 18 retail companies changed their benefits policies to offer hourly workers access to paid sick leave, Business Insider previously reported.

Get the latest coronavirus analysis and research from Business Insider Intelligence on how COVID-19 is impacting businesses.

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