The Value Proposition
Increasingly, companies recognize that offering work-life benefits is a win-win proposition. Studies have shown that programs like corporate backup care improve productivity and retention by reducing employee stress over family care issues A recent survey of over 1,600 U.S. employees by recruitment provider Hudson found that people who are happy with their work-life benefits work 21% harder and are 33% more likely to plan to stay at that organization. According to World at Work’s Global Strategic Rewards Study (2008), work life balance is the most important driver of employee attraction and commitment, and is second only to compensation.
The 2008 national Study of Employers by the Families and Work Institute found that both employers and employees reap rewards from effective and flexible workplaces and work-life benefits. Employees benefit from having higher quality jobs and more supportive workplaces that are less likely to negatively affect their personal and family lives, while their employers benefit from having more engaged workers, higher retention and potentially lower health care costs.
Work-life programs attract talented employees
A backup care benefit can help boost recruitment, too. The New Career Paradigm, a study by WFD Consulting on 21st century changes in work attitudes, found that younger employees are more apt to jump jobs or move out of the labor force entirely for periods of time. Young workers no longer sign on with companies for life, but rather take jobs with a package that allows for priorities outside of work.
Families and Work Institute’s 2008 Study of Employers found that companies that provide child and elder care assistance, such as subsidized backup care, have less difficulty hiring hardworking self-starters, retaining honest and reliable employees, and managing their performance.
Contact us to learn more about how offering Care.com® Backup Care℠, provided by Parents in a Pinch, can help you attract and retain top talent.