March 19 2024- As child care costs reach record highs, more than half of US employers are prioritizing benefits that assist their employees in managing and affording the demands of family and work. According to a survey from Care.com, 56% of companies identify child care benefits as their top concern this year, up from 46% in 2023. These new perks, such as additional paid time off for sick children or cash stipends for babysitters, surpass paid family leave and mental health benefits in importance for corporate HR departments. The survey, which targeted over 600 C-suite and HR leaders, focused on benefits beyond standard offerings like health insurance and retirement plans. Rising costs and limited care options are putting pressure on parents, with full-time nanny expenses reaching up to $56,000 per year in major cities and many child care centers facing closure as pandemic-related aid comes to an end. Treasury Secretary Janet Yellen highlighted the lack of affordable care as a challenge for working parents in the US.
https://fortune.com/2024/03/05/child-care-cost-crisis-benefits-cash-stipends-its-ok-days/
