hrdailyadvisor.blr.com Open in urlscan Pro
2600:9000:2646:4e00:1f:4f25:9740:93a1  Public Scan

Form analysis
2 forms found in the DOM

GET https://hrdailyadvisor.blr.com/

<form role="search" method="get" class="search-form" action="https://hrdailyadvisor.blr.com/">
  <label>
    <span class="screen-reader-text">Search for:</span>
    <input type="search" class="search-field" placeholder="Search …" value="" name="s">
  </label>
  <button type="submit" class="search-submit">Search</button>
</form>

POST https://hrdailyadvisor.blr.com/wp/wp-comments-post.php

<form action="https://hrdailyadvisor.blr.com/wp/wp-comments-post.php" method="post" id="commentform" class="comment-form" novalidate="">
  <p class="comment-notes"><span id="email-notes">Your email address will not be published.</span> <span class="required-field-message">Required fields are marked <span class="required">*</span></span></p>
  <p class="comment-form-comment"><label for="comment">Comment <span class="required">*</span></label> <textarea id="comment" name="comment" cols="45" rows="8" maxlength="65525" required=""></textarea></p>
  <p class="comment-form-author"><label for="author">Name <span class="required">*</span></label> <input id="author" name="author" type="text" value="" size="30" maxlength="245" autocomplete="name" required=""></p>
  <p class="comment-form-email"><label for="email">Email <span class="required">*</span></label> <input id="email" name="email" type="email" value="" size="30" maxlength="100" aria-describedby="email-notes" autocomplete="email" required=""></p>
  <p class="comment-form-url"><label for="url">Website</label> <input id="url" name="url" type="url" value="" size="30" maxlength="200" autocomplete="url"></p>
  <p class="comment-form-cookies-consent"><input id="wp-comment-cookies-consent" name="wp-comment-cookies-consent" type="checkbox" value="yes"> <label for="wp-comment-cookies-consent">Save my name, email, and website in this browser for the next time
      I comment.</label></p>
  <p class="form-submit"><input name="submit" type="submit" id="submit" class="submit" value="Post Comment"> <input type="hidden" name="comment_post_ID" value="87483" id="comment_post_ID">
    <input type="hidden" name="comment_parent" id="comment_parent" value="0">
  </p>
  <p style="display: none;"><input type="hidden" id="akismet_comment_nonce" name="akismet_comment_nonce" value="ca2b6d42f1"></p>
  <p style="display: none !important;"><label>Δ<textarea name="ak_hp_textarea" cols="45" rows="8" maxlength="100"></textarea></label><input type="hidden" id="ak_js_1" name="ak_js" value="1702654631936">
    <script>
      document.getElementById("ak_js_1").setAttribute("value", (new Date()).getTime());
    </script>
  </p>
</form>

Text Content

Skip to content

HR Daily Advisor

Practical HR Tips, News & Advice. Updated Daily.

 * Facebook
 * Twitter
 * LinkedIn
 * Youtube
 * Pinterest
 * Feed

 * eNewsletter Signup
 * About Us
 * Advertise

Search for: Search

Menu
 * Topics
   * All Recent Articles
   * EntertainHR
   * Faces of HR
   * Benefits & Compensation
   * Diversity & Inclusion
   * COVID-19
   * HR Management & Compliance
   * Learning & Development
   * Recruiting
   * Technology
 * Multimedia
   * Videos
   * Podcasts
   * HR Challenge
   * Infographics
   * Quizzes
   * Slideshows
 * Events
 * Free Resources
   * Webinars
   * Best Practice White Papers
   * Research
   * Tools & Tips
   * Buyer’s Guides
   * Case Studies
 * Industry News
   * Product News
   * Product Demos
 * Podcasts
   * A Seat at the Table
   * HR Works
   * HR Work Break
   * HR Works Showcase
   * Pages of HR
 * Subscribe




--------------------------------------------------------------------------------


BENEFITS AND COMPENSATION


HOW BUSINESSES CAN HELP SOLVE THE CHILDCARE CRISIS WHILE BOOSTING THEIR
PROFITABILITY

By Sadie Funk and Sara Redington, The Best Place for Working Parents Dec 14,
2023 Benefits and Compensation

Updated: Dec 14, 2023

Businesses across the country are becoming acutely aware of the childcare
challenges to their business, especially as potential impacts of the “childcare
cliff” seem looming. Luckily there are a host of research-backed childcare
supports, some even no to low-cost, that businesses of all sizes are
implementing. These benefits have also emerged as an opportunity for them to
retain and attract top talent in a red-hot labor market.



Recent data from Bank of America reveals that the average childcare payment has
increased by 32% from 2019, surpassing overall inflation by 12%. Two-thirds of
children 0-6 years of age have all parents (either single or coupled) in the
workforce, and COVID’s recent impact on women’s workforce participation has many
business leaders seeking solutions to retain their working parent employees.

Businesses of all sizes and industries are stepping forward with solutions to
their workforce’s childcare needs via a wide array of family-friendly benefits
that not only benefit the wellbeing, satisfaction, and health of their
employees, but also support business profitability through increased employee
motivation, performance, and loyalty to the company.



Businesses are well-equipped to develop benefits programs and policies that
address the unique needs of working parents. The first step to identify a
solution for any business is to survey their employees. Surveying your workforce
first can help identify which childcare strategies and supports make the most
sense for your business.  What works for one business or industry may be vastly
different for another – so it’s important to start there, with your employees’
unique needs, to make sure your solution is best fit for where they are today.


WHAT OPTIONS ARE AVAILABLE TO EMPLOYERS?

In response to the rising costs of child care, businesses can offset the cost of
child care by offering a range of benefits programs, such as dependent care
FSAs, onsite child care, child care stipends, and backup child care, among
others. These programs can lead to valuable benefits for employers, beyond
talent retention and attraction. For example, businesses can implement a
Dependent Care FSA at no cost and save up to $382.50 per employee.

Another inexpensive yet effective way companies can help working parents juggle
caregiving responsibilities is by providing flexibility. 73% of credentialed
women who left the workforce say they would have stayed for more flexibility.
For industries that are able to offer flexible schedules, it can be a very
effective and inexpensive benefit to attract and retain top talent, especially
working parents. Examples of flexible employee scheduling include aligning work
schedules and meetings with the school day, remote work, and schedule-swapping.

For those industries where workers must be onsite for the entire shift,
companies can offer predictability, such as providing three weeks of
advance-notice scheduling. This helps their employees plan for their childcare
needs.

With the pandemic-induced shift towards remote work, businesses have been
presented with an opportunity to redefine work culture and adapt to the new
normal that better supports their working parents. Recent studies found that
remote work has resulted in 50% less turnover, a 13% increase in productivity,
and 2X more motivated employees, all of which are extremely valuable factors for
business growth.


THE BUSINESS BENEFITS OF SUPPORTING WORKING PARENTS

The reality is, family-friendly is business-friendly in a myriad of ways, from
policies like flexibility all the way through onsite child care. It’s not a
one-size-fits-all solution, and successful policies are being implemented across
the spectrum from small to large businesses and every industry in between.

For child care specifically, returns for businesses include the following:

 * Onsite childcare produces over 7X higher retention rates for businesses
 * Childcare assistance, like a dependent care FSA, saves businesses up to
   $382.50 per employee, not to mention boosting motivation almost 4 times over
 * Back-up childcare – or subsidizing care for employees’ sick children – for a
   business with 250 employees can save up to $75k per year in lost work time.

Even providing no-cost policies like flexibility and remote work show benefits
to businesses:

 * Remote work has been shown to increase performance by 13% and decrease
   attrition rates by 50% — in addition to boosting employee motivation by 2X.
 * Flexibility is one of the highest rated policies that working parents ask
   for, and those who have it rate their workplace as over 100X more supportive
   than those who do not offer it.

Businesses have the agility to solve challenges quickly and are doing so across
the country – which is proving to have tangible benefits to their business in
attracting, retaining, and motivating top talent.

According to Fortune, workplaces with the most family-friendly benefits have
been shown to perform measurably better than their competitors when it comes to
revenue growth, employee retention, productivity, innovation, resilience,
agility, and customer service.  At Best Place for Working Parents®, we see
thousands of business leaders nationwide who are proving not only that
“family-friendly is business-friendly”, but also that family-friendly practices
are a leading trend for businesses of every size and industry that are building
a strong and sustainable workforce today, and for the future.

Sadie Funk is Director of Best Place initiatives, which are a collective of
initiatives designed to uplift and empower the communities we live and work in
by providing research, resources, and guidance. A public-private partnership
with The Miles Foundation, Best Place currently has two groundbreaking
initiatives – The Best Place for Working Parents® and The Best Place for Kids!®
designed to create family-friendly communities and drive economic growth.

Sara Redington is Chief Philanthropy Officer for The Miles Foundation. Ms.
Redington brings 15 years of strategic planning, business development, and
communications experience to her role. She founded Redington Solutions in 2009,
a strategy and communications firm serving businesses in Texas and across the
country. Prior to that endeavor, Ms. Redington led both local and international
business development efforts at the global law firm of K&L Gates. Today, she
connects The Miles Foundation with its mission by spearheading strategic
initiatives that amplify community impact, engaging key stakeholders in the
Foundation’s whole-community approach, and aligning Foundation practices with
its long-term vision for success.. Ms. Redington graduated cum laude from
Vanderbilt University with a B.A. in Communications and Psychology. She lives in
Dallas, Texas with her husband, Zach, and daughter, Emma Joy.

Share This Article:
 * 
 * 
 * 
 * 

Print
Tags: childcare cliff, childcare crisis, costs of childcare, employee
flexibility, employee motivation, employees, family friendly benefits, FSAs, HR,
HSAs, Remote Work, working parents


LEAVE A REPLY CANCEL REPLY

Your email address will not be published. Required fields are marked *

Comment *

Name *

Email *

Website

Save my name, email, and website in this browser for the next time I comment.





Δ

FEATURED RESOURCE

Download


WHY EMPLOYEES QUIT (AND 7 STEPS TO RETAIN THEM)

Have you ever been caught off guard by a resignation? If so, you’ve probably
asked yourself why, too. On the surface, things seemed fine. The
soon-to-be-former employee was a top performer who rarely — if ever — voiced
concerns. In this guide, we’ll first examine turnover and retention by digging
into the top reasons employees […]



CONNECT WITH US

 * Facebook
 * Twitter
 * LinkedIn
 * Youtube
 * Pinterest
 * Feed

--------------------------------------------------------------------------------

MOST POPULAR ARTICLES


6 STEPS TO CONFLICT RESOLUTION IN THE WORKPLACE

Kimberly A. Benjamin, PHR

Conflict resolution in the workplace can be broken down into steps to simplify
the process. By doing so, HR and managers can ensure more effective
communication and a more effective conflict resolution process.


UNDERSTANDING EEO JOB CATEGORIES FOR THE EEO-1 REPORT

Jennifer Carsen

Are you prepared to file your EEO-1 report, complete with the employee survey
information broken down by EEO job category? The deadline to submit and certify
2019 and 2020 EEO-1 Component 1 data is Monday, August 23, 2021. After delaying
the opening of the 2019 EEO-1 Component 1 data collection because of the
COVID-19 public health […]


7 TIPS FOR RETAINING EMPLOYEES DURING ADDICTION TREATMENT

Amy Matton, Content Writer, Ark Behavioral Health

About 10% of Americans have experienced drug addiction at some point in their
lives. If one of your employees is struggling with this disease, you might be
tempted to fire him or her.


BRINGING THEM BACK: KEY CONSIDERATIONS AS EMPLOYERS BRING EMPLOYEES BACK INTO
THE OFFICE

Lin Grensing-Pophal, Contributing Editor

After the mass rollout of COVID-19 vaccines during spring 2021, Americans were
looking forward to the end of the pandemic as millions were vaccinated. The
optimists included not only individuals but also companies eager to get staff
back into offices after more than a year of working remotely. While the highly
publicized Delta variant has […]

More popular articles

FREE RESOURCES


FUTURE-PROOFING YOUR WORKFORCE WITH PERFORMANCE REVIEWS

Leaders aren’t born — they’re developed. And in the professional world,
development requires deliberate, pointed guidance. If your employees aren’t
given a clear expectation about how they should develop, they’re left with no
avenue to invest their potential back into your business. This risks
disengagement and even turnover if an employee believes they’re stagnant in […]


3 WAYS YOUR COMPANY IS LOSING PROFITS TO YOUR HCM

It’s easy: You bought your HR and payroll system — or systems, plural — to boost
efficiency, keep more people, protect your bottom line and, ultimately, allow
your business to grow with confidence. And significant savings don’t come from
making a preexisting process a little faster. Every manual task has an implicit
cost if someone’s […]


THE TOTAL ECONOMIC IMPACT™ OF PAYCOM

The Total Economic Impact™ of Paycom A commissioned study conducted by Forrester
Consulting on behalf of Paycom revealed how Paycom tech benefited a composite
organization representative of interviewed customers. In the study, Paycom’s
single HR software featuring Beti®, an industry-first payroll solution that
empowers employees to do their own payroll: reduced time spent correcting
payroll […]


WHAT EMPLOYEES WANT: OVERLOOKED INSIGHTS IN EMPLOYEE ENGAGEMENT

In an ever-changing job market, do you know what employees really want?

More free resources

 * Contact Us
 * About Us
 * Advertise
 * Privacy Policy
 * Do Not Sell My Information

© 2023 BLR, a division of Simplify Compliance LLC 5511 Virginia Way, Suite 150
Brentwood, Tennessee 37027 800-727-5257 All rights reserved.





This site uses cookies in order to give you the best experience. We and our
third-party partners may use cookies and similar technologies, for example, to
analyze usage and optimize our sites and services, personalize content, tailor
and measure our marketing and to keep the site secure. Please visit our privacy
policy for more information. Privacy Policy

I accept
×
ShareThis Copy and Paste