Does access to childcare help stabilize the workforce?

Childcare might be a good investment for employers seeking a stable workforce, research suggests, as Early Learning Nation reports. 

A new study found nearly $18 in benefits for every $1 spent on support for employees with children. Based on interviews with parents and a survey of 304 people, the study shows benefits for employers and caregivers alike.

The findings suggest that parent-friendly practices and policies help boost retention rates for employers as well as productivity.

Among the key findings: Roughly 67% of survey respondents said they had considered leaving their job in the past year, yet 42% stayed specifically because of their employer’s support for caregiving.

Overall, 59% of respondents said they’d be likely to stay with their employer for at least four years if they had backup or subsidized child care. That’s 14 months longer than the average millennial stays at a job.

“Caregiving support is not ‘bells and whistles,’ but a vital pillar of profitability, with calculable return on investment, that makes sense for all businesses and all employees,” according to the study, as Early Learning Nation reports.