After Sherry had her son, she struggled to find a job that paid enough to cover the cost of child care while she was at work. When Sherry was offered a job at a local financial services company, she learned that as an employee benefit, her new employer would pay a portion of her son’s cost of child care.
When employees are able to manage family responsibilities they are more likely to be dependable and productive at work.
In particular, finding affordable, high quality child care is a service with which many employee families struggle. The average annual child care cost in Colorado is $12,736 per infant and $9,619 per preschooler. A 2016 survey of working parents found…
- nearly 1 in 5 reported leaving full-time employment for part-time work because of child care issues
- almost half of both men and women missed work regularly due to problems with child care
- 1 in 6 had quit and 1 in 13 had been fired because of problems finding or paying for child care
When a family-friendly workplace is encouraged, there is a huge return on investment: employee morale, engagement, health outcomes, and retention all improve.
United Way of Weld County helps businesses assess and set goals for creating family-friendly workplace practices.
In addition, companies can participate in the Family Business Solutions program, in which they designate a certain amount up to which they will contribute for child care provision. Full-time employees with children who are eligible for medical benefits at enrolled companies can then qualify for Family Business Solutions.
Each qualifying family receives assistance for children aged 12 and under. United Way acts as the liaison between child care providers and the company. The provider bills United Way each month, and United Way in turn bills companies quarterly for applicable company employee child care costs.
Providing child care benefits doesn’t just help the employee. When companies provide child care, employee absences decrease by up to 30% and job turnover declines by as much as 60%. Participating companies can also earn a tax credit!
“Through Family Business Solutions, PFC, USA provides an excellent benefit of child care financial assistance to our staff. This is one way to ensure our employees have a good balance between work and life while aiding in our employee retention rates.”Samantha, PFC, USA