Report: Companies That Offer Employer Caregiving Benefits See a Return of Nearly 18x

Posted under: SMB
Date: 2024-02-27
Report: Companies That Offer Employer Caregiving Benefits See a Return of Nearly 18x

A recent report by childcare startup Vivvi and consultancy The Fifth Trimester found that companies investing in caregiving benefits can see a return of nearly 18x, or $18.93, for every dollar invested. This is due to the fact that childcare subsidies, among other family-oriented benefits, boost retention and productivity among parents. Employees reported that benefits like childcare credits, on-site care, flexible hours, and remote work policies allowed them to work properly. A survey of 300+ respondents revealed that 90% would prefer a $10,000 childcare subsidy over a cash bonus, ranking childcare benefits above 401(k) and vacation time. Nearly 60% of respondents said childcare subsidies would lead them to stay in a job for a minimum of four years. Robust caregiving benefits boost bottom-line companies by encouraging employees to work harder and spend more time on internal programs, with 70% of respondents willing to visit the office frequently.