by YJ Lee
As the second-largest household expense after rent or mortgage, childcare expenses weigh heavily on employees. The national average cost for childcare has risen 22% more since 2019. In addition to the ongoing work-from-home, hybrid, or in-office adjustments due to COVID-19 along with the economic conditions, employees are stretched thinner and thinner, causing many parents (primarily women) to drop out of the workforce or find new employment opportunities. According to a 2022 report by Lean In and McKinsey, women are switching jobs at the highest rate, especially at senior level positions, which can impact DEI efforts. Burnout from managing both job and parental responsibilities is experienced by 1 in 4 working parents, leading to more than half of working parents willing to leave their workplace if the workplace is not meeting their needs. In order to retain talent and support working parents, employers should consider providing special and unique benefits such as childcare benefits. Research shows that “82% of the best workplaces have committed to supporting parents in 2022 through benefits decisions.” Thus, many of the best employers have taken action to maintain and attract talent and uplift the burden of work/life balance with childcare benefits solutions.
There are options for affordable and accessible childcare benefits. Learning Care Group is an affordable childcare solution that provides early education and care for children ages 6 weeks to 12 years. With over 1,050 schools across 39 states and Washington, D.C., Learning Care Group is accessible to serve regional and national employers, especially as many of today’s workforce is distributed in various locations. Learning Care Group offers a variety of unique, customizable childcare solutions along with 11 brands such as La Petite Academy, Childtime Learning Centers, and more. Learning Care Group is affordable because there are options for employers to assist their employees with the cost of childcare through a tuition discount as well as a subsidy.
Sean Sondreal, Chief Business Development Officer for Learning Care Group, shares:
“LCG’s entire focus is on creating a safe and caring environment ideal for educating and developing a life-long love of learning in our children. Our Employer Solutions team brings the same focus to our clients by helping them support their employees with high quality childcare solutions that enable parents to go to work knowing their children are in a safe and loving environment.”
Assisting with the cost of childcare
According to The Care Report by New America, over half of working parents have a hard time finding affordable childcare. The national average cost of childcare in 2020 was $10,174 with high-quality care and educational experience running far more. Learning Care Group provides a Funded Child Care Solution so employers can provide childcare funding for up to 100% for their employees. The Funded Child Care Solution is designed to scale to the organization’s needs. There is a minimum 10% off tuition for all ages at 1,050 and more schools nationwide along with the initial enrollment registration fee waived saving a family with two children in care oftentimes more than $2,000 annually. In addition, Learning Care Group works with employers in offering several preferred pricing models to match their specific needs.
Providing a safety net when regular care falls through
Having a babysitter or nanny fall through can have major impacts on working parents and their employers. Nearly “50% of working parents miss an average of 4 work days every 6 months because of childcare breakdowns.” To monetize the value of missed days, it costs employers in the U.S. about “$4.4 billion a year in lost productivity” while also affecting the employee and their family with a total of “$8.3 billion in lost wages” in the U.S. Fortunately, Learning Care Group has a Back-Up/Emergency Care solution that enables employees to find coverage when regular childcare plans fall through. Coverage also includes school vacations and breaks, snow days, in-service days, and spring break.
Reducing turnover and increasing post-maternity leave returns and worker productivity
During the pandemic, nearly half of working families lost access to childcare. This can prompt a working parent to leave their jobs to become the caretaker. For employed women, nearly 50% do not return to work after having their first child. However, companies with onsite childcare have seen a drastic increase in post-maternity leave returns. For example, a client of Learning Care Group had a 100% return rate when provided with their onsite childcare solutions. The impact of onsite childcare can have a 60% decline in job turnover. Furthermore, according to a study from the Journal of Managerial Psychology, employee performance was found to be higher, and absenteeism lower, among employees with access to onsite childcare.
Opening options for access everywhere nationwide
Learning Care Group has recently launched their Open Access platform which allows employees to use childcare services outside of Learning Care Group’s network of schools. Sondreal explains, “This enables employers to meet the needs of their entire population – whether their employees work remotely, in shifts, within a concentrated area, or at multiple locations throughout the country.” If there are no Learning Care Group schools available for care for working families, then out-of-network centers, or even privately secured care, are an option and employees can get reimbursed. Learning Care Group creates childcare options for every employee, no matter their location.
We are proud to feature Learning Care Group on The Granite List. For more information, check out https://www.learningcaregroup.com.
