Early childhood education provides a slew of advantages, including better, more equitable long-term results for children from various socioeconomic backgrounds. Furthermore, investments in these programs contribute to the development of a future workforce, long-term economic competitiveness, and the development of our country’s future leaders. Decades of study have also demonstrated that investing in children’s care and education at a young age pays off in terms of social, educational, and economic benefits throughout their lives.
Many families with young children now must choose between spending a considerable amount of their income on child care, finding a less expensive but comparatively lesser quality option, or quitting their jobs to care for their children. Child care difficulties are pulling parents out of the workforce at an alarming speed due to high costs, lack of availability, or inconvenient schedules.
Accessible and good-quality child care for working parents is essential to our country’s economy and the well-being of the company they work for.
How companies can contribute to economic growth by providing childcare benefits to their workers
There is an increasing understanding of the linkages between child care availability, employment, and general economic growth. Employers need their employees, while employees need child care. When there are issues with child care, parents must race to find alternatives or skip work to take care of their children.
Working parents who do not have to spend the majority of their income on childcare and who receive help from their employers encourage higher family economic stability and, as a result, child well-being.
Assuring that all children have access to the resources, opportunities, and security they require to flourish puts them on the road to healthy development and favorable long-term outcomes, including improved academic success and stable employment.
Adapting to the pandemic
The coronavirus epidemic has worsened parents’ difficulties in locating trustworthy child care, in addition to entirely disrupting routine and the economy. Many parents, particularly moms, have taken the tough choice to leave their careers to care for their children. It emphasizes how vital caring for children is to the economy’s success. For this reason, the majority of working parents want their company to provide some on-site child care or daycare benefit.
On-site child care proves to be beneficial to both the employer and employee.
Working parents are more motivated when their employers help them obtain safe and dependable child care. On-site daycare is not just a perk for employees; it is also a valuable advantage for businesses that value their workers’ ability to manage work and family life. When your company provides on-site daycare, it sets the company up for future success. This results in better revenue and more favorable outcomes for both the company and the employee overtime.