5 Reasons Why Companies Need Child Care
We've listed just five:
1. Millennials are plannersThey may not have children - yet. But members of the Millennial generation are planners. When we asked, more than half of those in our Lasting Impact survey said child care was important to their job search - and they didn't even have children. So offering child care today could set you up to avoid talent shortages tomorrow.
2. Today's mothers are older and mid-careerThe CDC says mothers are waiting longer (into their 30s) to have a first child. That arguably means they're approaching motherhood while in more senior organizational roles. And that means child care will appeal to an enormously valuable segment of the workforce that employers need to keep.
3. The next generation is up in the airThe Great Recession took its toll on the Millennial birthrate. And the financially strapped generation needs to start feeling more optimistic about balancing work and life, or we might face the generational imbalance that's present across some European countries and Japan. Organizations that offer child care can help deliver that optimism...we need a next generation, after all.
4. More mothers are breadwinnersPew says 40% of all households with children under the age of 18 include mothers who are primary breadwinners. That's a huge swath of the workforce you don't want to ignore - their careers are important to them, but so are their children, quality child care, and convenience.
5. More dads are engaged parentsDon't forget about working dads. Their #1 worry, that family outweighs career, was one of the big surprises of our Modern Family Index. Child care addresses the realities of today's working fathers who are making parenthood a priority.
And there's a sixth reason - child care isn't just about who it's for, but what it does. Almost all - 95% - employees told us employer-sponsored child care enabled them to concentrate on the job. The same number said it provided them with important flexibility. Are your benefits offerings up for evaluation? If you don't already offer child care to employees, consider why companies need child care. Offer it in next year's portfolio and keep an eye out for happy, productive employees as a result.
Understanding Employer-Sponsored Child Care
Access a guide addressing the challenges and benefits of employers sponsoring child care for their employees.
April 24, 2019