News & Information

 

FEATURED PRODUCT

Pension and Employee Benefits: Code, ERISA, & Regulations
This series provides an authoritative and comprehensive reference to the full text of benefits-related provisions of the Internal Revenue Code, the full text of ERISA, and related proposed and final regulations, as well as the official IRS and DOL preambles, and Committee Reports.

Learn More »

CCH® BENEFITS — 11/13/08

Child Care Ranks High Among Important Workplace Benefits

From Spencer's Benefits Reports: Child care is one of the most important workplace benefits for families with two working parents, according to a study released by the Consulting Practice at Bright Horizons Family Solutions. The study indicates that one in four parents using work-site child care have actually turned down or not pursued a job change because of the lack of work-site child care.

With the number of families with two working parents at an all-time high, the report indicates that high-quality, reliable work-site child care is an important benefit in relieving employees’ concerns and enabling them to be productive and present at work. In return for this benefit, they are rewarding their employers with their loyalty and commitment, with one survey respondent saying, “Having a child care facility here is why I have chosen not to look for work at other companies.”

The key findings include these:

• 94% of parents using full-service child care centers say that work-site child care would affect their decision to make a job change;
• 68% say that workplace child care was important in their decision to join their company;
• 91% of women say access to on-site child care was important in their decision to come back to work with their present employer after the birth or adoption of a child, with 68% saying it was very important;
• 90% of parents using full-service centers say that access to a work-site child care center positively affects their ability to successfully concentrate on the job and be productive; and
• users of work-site child care were 68% more likely to have five to nine years tenure with their organizations than non-center users.

More than 3,200 parents who participated in a full-service employer-sponsored child care center and more than 800 parents who participated in a back-up child care center sponsored by their employer responded to the survey. The study was compared to a control database of nearly 100,000 respondents from hundreds of employers who had participated in assessment surveys over the past ten years prior to their employer offering any child care benefit.

For more information, visit http://www.brighthorizons.com/lastingimpact.

For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer's Benefits Reports.

Visit our News Library to read more news stories.