The Value of Childcare Benefits: A Path to Workforce Retention and Financial Growth

As childcare costs rise, it becomes even more important to support workers to keep them in the workforce. Although only 12% of US workers currently have access to childcare benefits, they’ve been proven to generate between $0.90 and $4.25 in extra earnings for employers for every $1 spent, by reducing absenteeism and retaining employees. A recent study by Boston Consulting Group (BCG) and Moms First shows that offering childcare benefits to employees can bring significant financial benefits to companies, with examples from companies like UPS, Etsy, Steamboat, and Fast Retailing demonstrating how benefits such as on-site and backup childcare stipends improve employee satisfaction and productivity.

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