The talent war is intense – and childcare benefits are critical

One in five children, either currently or at some point during their life, have had a seriously debilitating mental illness, according to the Centers for Disease Control and Prevention (CDC).

However, this need is not always met: less than 30% of working parents say their company offers child care benefits that meet their needs, found the survey of 2,023 parents with children aged 12 and younger, conducted from Jan. 14 to 22, 2022.

Currently, 81% of working parents say a company’s childcare benefits are important to the job consideration process. Sixty percent of them would stay in their current jobs if they had subsidized child care and another 60% would stay if given on-demand child care. However, only 22% and 25% of workers, respectively, currently have access to these benefits.

A majority of working parents have or have considered scaling back their hours at work (74%), taking on less demanding roles (71%) and pursuing freelance jobs (69%) to be more available for their children. This comes at a time when millions of workers are quitting their jobs and employers are having a hard time finding the workers that they need.

“This presents a major opportunity for employers who are focused on attracting and retaining talent, especially in a competitive job market like the one we’re in today,” said Figurski. “Employer-sponsored childcare benefits are one of the most impactful benefits to offer employees moving forward.”