The lack of access to quality and affordable child care is also a barrier that limits the supply of talent in the workforce. Companies that take an active role in helping their employees secure these services generate billions of dollars a year in revenue due to increased workforce participation. Employers can implement policies and provide support to employees, which will help parents provide the care their children need, enable the children to reap the benefits of quality child care, while bolstering the bottom line through increased productivity and the ability to retain and attract talent needed for success.
Offer flexible work arrangements such as telecommuting or flexible hours to enable employees to integrate their work and caregiving responsibilities
Provide education to your employees on the local, state and federal tax breaks and programs that they may be eligible for to help with the cost of child care.
Create an FSA
FSAs provide tax breaks for families and can be made available through the benefits package offered. FSA can be used to pay for up to $5,000 of child care related expenses.
Contract with child care providers or centers for child care services. Parents are provided a voucher for all or part of the cost of care: child care programs redeem the voucher.
Purchase a number of spaces in child care programs to ensure current and future employees have access to child care.
Collaborate with other employers and pool resources to conduct a joint child care project. Consortium members generally share start-up costs and receive priority enrollment.
Build an on-site child care center; think about the workforce that would have access to the center and whether or not community spaces could be available.