What are dependent care benefits?
Employers in every industry are turning to dependent care benefits to increase retention and improve recruitment. From on-site child care to back-up care and elder care solutions, dependent care benefits provide the support that working parents need to manage family obligations, reduce stress, and stay productive on the job.
But what are dependent care benefits, exactly, and how can these benefits help employers attract and retain top talent? This short introduction, “What are dependent care benefits?” provides brief answers to these questions and others.
What are dependent care benefits and why are they needed?
When employees’ care arrangements for dependents falls through, employers often end up paying the price. Breakdowns in child care alone cost businesses an estimated $4.4 billion in lost productivity and absences each year.
Working parents make up a significant portion of the workforce, especially in senior-level positions. The stress of managing dependent care often leads talented workers, especially mothers, to leave the workforce altogether, and employees incur high costs in terms of loss of talent and business continuity.
Dependent care benefits address these employer challenges by helping employees to manage dependent care more easily. Elder care and child care benefits ultimately enable employers to minimize disruptions at work and retain talented employees, improving business performance and productivity.
What are dependent care benefits from Bright Horizons?
Bright Horizons has been a leading provider of strategic dependent care benefits since 1986. We offer a wide selection of dependent care programs that help employees balance the demands of their work and home lives. As one of the nation’s leading onsite daycare companies, we provide high-quality child care for working parents with options for full-time, part-time, and back-up care. Our return-to-work programs for moms offer personalized advising and child care opportunities that provide the structure new mothers need to successfully return to their jobs. Additional dependent care benefits include in-home and center-based elder care, as well as back-up care solutions for dependents of any age.
What are the benefits of dependent care for employees?
Dependent care benefits help employees balance their family and professional responsibilities more successfully so they can deliver their best performance at work. With dependable support for their family members, employees are free to pursue ambitious career goals, promotions, or additional training.
What are the benefits of dependent care for employers?
Dependent care benefits rank among the most popular employee benefit trends because of their meaningful impact on the lives of employees. By providing robust dependent care benefits, employers can attract top talent, retain talented employees, and improve job satisfaction and employee engagement. And by minimizing the disruption of absenteeism, employers can significantly improve productivity in the workplace.
What are on-site child care benefits?
An on-site child care center provides convenient care options for working parents, making it easier to manage their family responsibilities so they can stay focused at work. Bright Horizons provides the expertise to design or manage a corporate child care program that meets the unique needs of your workforce, helping to attract and retain employees with children.
What are back-up care benefits?
Back-up care benefits help workers quickly coordinate emergency care when other care options fall through. Bright Horizons provides nationwide coverage that employees can access with a simple phone call or a few clicks of a mouse. Our services include back-up child care, back-up elder care, and solutions for injured spouses and other dependents needing special assistance, allowing employees to avoid the breakdowns in care that cause disruptions in the workplace.
What are dependent care benefits for aging relatives?
Dependent care benefits for aging relatives, or elder care benefits, provide services that help employees to find reliable care solutions for aging parents or other relatives. Whether an elderly relative lives around the corner or across the country, Bright Horizons elder care programs provide access to critical services, from assistance organizing documents and managing appointments to suggestions for recommended resources and on-site assessments that can help to address evolving needs. Elder care benefits help employees efficiently manage complex and emotional care challenges that can cause absenteeism and lack of focus.