Modern families come in all shapes and sizes but there’s one thing in common: young children. With more working families than ever before, employees need a little extra help in balancing work and family life. Our 2016 Modern Families Index told us that while family remains the greatest priority for working parents, almost 60% say that their caring responsibilities have a significant impact on their ability to work.
As an employer there are great benefits to offering childcare and we’ve included a few:
- Millennials want to care
A growing number of Millennials are sharing childcare equally with their partner and an increasing number want to be more involved but are afraid to discuss this with their employer, often resulting in them faking illness or lying. Offering childcare could support your working parents and improve workplace culture.
- More Dads are engaging
Don’t forget about working dads! One of the biggest surprises from our Modern Families Index is the importance dads are placing on quality of life over work – with almost half considering a less stressful role and a pay-cut. Childcare addresses the importance that dads are placing on parenthood.
- Mothers are choosing childcare over a promotion
With work and childcare responsibilities, and chores around the home, balancing work and family life is having an increasing impact on women’s careers, with over half considering their childcare before applying for a promotion. Childcare can be a key differentiator in retaining talented people.
- It’s key for recruitment and retention
Childcare is a proven retention tool. Our Lasting Impact of Workplace Nurseries report found that 90% of working parents said they’re more likely to continue to work for their employer, while 94% said it was important in their decision to join their company.
- It’s cost effective too for both the employee and the employer
The OECD recently reported that childcare costs in the UK are the highest in the Western world. Childcare which is sponsored by an employer can have a significant cost saving, with the employee paying for childcare from their gross salary (before tax and NI deductions) and employers saving on their Employer’s NI contributions. And the proof is in the pudding – with 70% of working parents recognising employer-sponsored childcare as a cost effective solution.