The Society for Human Resource Management (SHRM) 2017 benefits report points out two undeniable facts. The first: companies striving to be top employers are increasing their benefits as much as possible in an effort to remain attractive in a very competitive talent marketplace. Second, as a whole, new options for childcare is somehow still not making it to the top of the list.
Employer-supported childcare programs are a coveted employee benefit, yet very few, if any, new childcare-related benefits have emerged in almost a decade. With more than 60% of U.S. households containing two working parents, quality, reliable childcare – and the costs and logistics that come with it – is a top concern for millions of Americans.
The lack of innovation in childcare benefits in the last decade is surprising, given even just the missed workplace hours due to school breaks (when parents of school age children have to take time off from work in order to provide care) results in lost productivity of $20 billion/year.
In a job marketplace where employee tenure is averaging only three years, employee retention is a major concern for HR professionals. Forward-thinking companies are looking for creative benefits that help employees achieve a work/life balance, particularly working mothers, who often find themselves stepping back from careers when the time, costs and logistics required to balance family demands become too overwhelming.
Companies like Genentech, General Dymanics, and Tufts have discovered a way to help working parents in her company fill a childcare gap: school breaks. Each company has partnered with Campseekers, a wellness benefits company that helps employers support their working parents via exclusive access to a national network of discounted summer and school break programs.