Balancing work and family life is always a challenge. Add a global pandemic into the mix, and you’ve got overwhelmed parents and stressed-out employees at their breaking point. Every company can benefit from providing support for working parents. This article looks at the benefits to employers providing access to child care options and why child care is one of the most impactful benefits you can offer employees.
Are Accessible Child Care Options Part of Your Company’s Benefits Package?
Working parents make up a large percentage of the American workforce. According to the Bureau of Labour Statistics, 63% of American families with children have both parents working. Child care is also a significant expense for working families. In many states, child care costs more than college tuition.
It is not surprising then that childcare benefits are as essential to working parents as sick days, health benefits, and 401ks. Surprisingly, only 6% of American companies offer their employees child care benefits. Many companies think that child care benefits are too expensive, but there are many ways to support working parents.
Accessible child care options can take on many forms, from onsite child care, child care subsidies to providing in-home or back-up child care. Many companies are looking to add child care benefits to improve work-life balance and support working parents.
Why Childcare Impacts All of Your Employees
Offering child care benefits to employees is a massive boost to working parents, but it can benefit everyone in the company, even those without kids. Child care benefits decrease absenteeism, increase overall job satisfaction, enhance employee retention, and strengthen employee commitment to their job.
Child care benefits can also make your workplace more equitable. A study by Michelle Budig on Gender and The Pay Gap found that on average, men’s earnings increased more than 6 percent when they had children (if they lived with them), while women’s decreased 4 percent for each child they had. Child care benefits for all employees are one way to even out this gender gap.
Benefits should also be offered to all employees, regardless of gender. Although women statistically benefit most from child care benefits, all parents need support.
The Benefits that Employers Receive By Working with a Child Care Provider
Working parents are not the only ones to benefit from child care options. Child care is the most impactful benefit employers can invest in for their people and themselves. Here are some of the benefits:
Juggling child care and work is always a challenge. A recent study found that employers lose close to $13 billion in earnings and productivity each year due to inadequate child care resources.
Working parents who don’t have to worry about a sick child at home, or stressing over a babysitter that canceled at the last minute, are better workers. When parents have access to high-quality child care, they are more engaged at work, which benefits your bottom line.
Increases Retention Levels
Turnover costs for replacing and retraining a new employee can be astronomical. It is estimated that 20-35% of working mothers who give birth do not return to their previous jobs. When Patagonia introduced on-site child care, they saw 100% of working moms return to work after maternity leave.
On-site child care can significantly reduce employee turnover as parents can be close to their children as they work, which is especially important for parents who breastfeed.
Acts as a Powerful Tool for Recruitment
Child care benefits are a sought after benefit for new employees. IF you are looking to recruit the best, child care benefits are a massive incentive for recruiting talented workers.
“This was one of the missing, yet essential, benefits that I am thrilled to be able to provide our committed parent employees,” “The challenges working parents face are plentiful and far reaching. Horizon’s culture is steeped in employee customization and this is another example of how knowing what matters aids in supporting our valued community. The feedback from our employees has been nothing but positive.”
- Eileen Benwitt, Executive Vice President and Chief Talent Officer at Horizon Media
What Do Employees Value Most in Employer-Provided Child Care Options
High-Quality Child Care
Finding High-quality, affordable child care is one of the top concerns for working parents. Not all child care is created equal, and study after study has shown the importance of high-quality care on a child’s development and overall well being.
For working parents who are juggling deadlines and sick kids, having flexibility in the child care options is extremely valuable. The opportunity to call in a backup babysitter if a child is sick is a huge benefit. Child care options that offer extended hours, weekend care, or early and late pickup can be extremely valuable.
On-Site Child Care
Not having to stress about being late for drop-off and pick-up times is a massive bonus for working parents. Onsite child care means the kids go to work with you, and many parents feel better knowing they can pop down and say hello to their child at any point in the day. Onsite child care is also a huge bonus for parents that breastfeed as they can feed their child on demand throughout the day.
Why Should Your Company Work with Vivvi? Let Us Explain.
Vivvi provides High-quality, on-site child care that meets the needs of your business and your employees. Not just a child care provider, Vivvi partners with employers of all sizes to make exceptional full-time and backup care more accessible and affordable.
- We offer onsite child care and learning that can transform an unused office space into an inspiring, nurturing environment for children.
- We also offer back-up child care with flexible schedules that work with your employee’s needs.
- If your employees work from home, we can provide dependable in-home care that lets them stay productive while their children are engaged and learning.
- We have flexible enrollment options, which means you have child care when and where you need it.
“From the moment we met with the Vivvi team, we knew it was going to be a great fit for our daughter. Her teachers and the entire team have been amazing and their support has made the transition back to work so seamless for me. We love all of the activities that are focused on her individualized development.The app is great and keeps up informed throughout the day of all the fun she’s having!”
- Erin Tuliebitz, Hilton