BUSINESSES are starting to offer parents perks like free childcare in order to retain talented staff.
Parents face paying £6,288 a year on nursery fees per child, making childcare unaffordable for a growing number of working mums and dads.
Despite the government extending its 15 hours of free childcare to parents of children over 8 months this month, many companies recognise that working parents need more support.
Some businesses have started offering on-site nurseries and discounts on childcare including salary sacrifice schemes that help reduce costs.
Everyone has the right to ask about family benefits, including flexible hours, time off for appointments and sick days to care for children.
Robert Burden, managing consultant at outsourced HR services provider KaneHR, says: “While employers may not be required to offer enhanced benefits beyond statutory requirements, there is nothing stopping employees making suggestions.”
Cisco, Deloitte, first direct, Goldman Sachs, Meta, Morgan Stanley, RAF Northolt and Toyota are among the employers offering staff on-site creche and nursery facilities with Bright Horizons.
Next has a dedicated Ofsted ‘outstanding’-rated nursery near its head office in Leicestershire.
Emergency backup care can help when existing provision, such as a grandparent or childminder, cancels at short notice.
At Goldman Sachs and Morgan Stanley, for example, staff can access 20 and 25 days’ per year, respectively.
This is either at the creche or a home visit by an approved nanny.
The parent simply books through an app on the morning care is needed.
Parents and caregivers working at Etsy are given up to 20 care credits to pay for last-minute childcare, adult care and tutoring each year.
Interest-free deposit loans can help secure in-demand nursery places.
Paid time off for each child’s first day of school is another popular benefit, with research by Aviva finding 41% of parents feel “nervous or anxious” about their child’s transition to a new school.
Acknowledging many parents call in pretending to be sick if their child is ill, companies are offering parents additional leave.
Burden says: “To help mitigate this habit – which can raise questions around an employee’s integrity – a lot of companies offer paid time off for dependants.
Similarly, if a sick child gets sent home from nursery, we’re seeing clients offer employees paid time off for those scenarios that are out of a parent’s control.”
Employers offering free childcare
We’ve compiled a list of the best childcare perks offered by firms.
ANS
- Enhanced maternity & paternity leave
- Five days’ leave for IVF treatment
- Neurodevelopmental pathway (with Aviva) – staff & their children (age 7+) can be diagnosed in two weeks
- First day of school off
- Parents’ room
- Family support groups
Aviva
- First day of school off
Barclays
- Tax-efficient childcare support and enhanced parental leave policies
Barratt Homes
- Paid assisted fertility leave of up to two days per cycle of treatment – regardless of gender
- Provision of enhanced shared parental pay to a maximum of 26 weeks + parental leave for up to 18 weeks for each child
BP
- Acorns day nursery and preschool near its International Centre for Business & Technology (ICBT) in Sunbury-on-Thames, offering a preschool STEM (science, technology, engineering and maths) programme
Etsy
- Up to 20 backup care credits for last minute childcare, adult care and tutoring each year
- Up to 12 weeks’ paid family and medical leave to care for a sick family member
- Adoption/surrogacy reimbursement for related fees and expenses
- New parents have the option to trade in up to 14 weeks of parental leave time for a cash benefit to support their transition back to work
first direct
- Two onsite childcare facilities in collaboration (via Bright Horizons) in Staffordshire and Lanarkshire
Goldman Sachs
- On-site childcare centres for full-time – four weeks upon returning to work – plus 20 days’ emergency back-up care for children born or adopted (three months to 12 years old)
- Mother and baby rooms and homework rooms
- Advice and counselling services, expectant parent resources
- Transitional programmes for parents returning from parental leave
- Adoption, surrogacy, egg donation, and egg retrieval stipends are also available
- Dedicated pre-natal fitness programme
- Nursing mother facilities, including lactation rooms at some offices
- Breast milk shipping cost reimbursement for nursing mothers travelling overnight for business purposes
- Priority access to Bright Horizons waiting lists
- Minimum 18 weeks’ paid leave for all new parents
- Minimum 24 weeks for birthing parents
- Flexible working
- Onsite lactation rooms
- Backup childcare support
Hill Dickinson
- Backup care, virtual tutoring, pet care, parental coaching
M&G Investments
- Paid time off for any antenatal or adoption-related appointments
- Up to five days paid leave when welcoming a new foster child/siblings
- Paid leave for each complete course of fertility treatment
- Two weeks paid compassionate leave for miscarriage or stillbirth for all employees
- Electronic childcare vouchers via salary sacrifice (but now closed to new entrants)
Mastercard
- Minimum 16 weeks’ paid leave for any new parent (through birth, adoption, or newly placed foster child)
- Financial assistance for adoption, surrogacy, and/or fertility
- Employee assistance fund
- Bereavement leave
- Dependent scholarships
- Travel assistance
- Family short-term counselling
Meta
- Holistic benefits scheme Life@ Meta offers support on health, family, family building, family care resources, family leave and paid time off
- An annual allowance will be reimbursed with staff able to choose how they spend it. Areas include educational assistance, care for children, elders or pets
Morgan Stanley
- Interest-free nursery deposit loans via salary sacrifice
- 25 days per dependant per year emergency backup care – at a nursery or in-home
- Waived registration fees, discounts and priority access to Bright Horizons nurseries, plus holiday camps in school holidays
- Basic fertility treatment included in healthcare plan (paid upgrade available)
- Free subscription to Maven virtual clinic – 24/7 online access to paediatricians, gynaecologists, family planning support, parental advice
- Private space to express breast milk with access to a hospital grade pump
- Co-parent leave – All new parents globally receive at least 16 weeks of paid leave
- 26 weeks’ maternity leave (birth or adoption) with full pay in addition to UK government policy
Next
- Purpose-built head office childcare nursery
Procter & Gamble
- Discounted rates on childcare or access to agencies to find qualified and trustworthy child minders
Transport for London
- Interest-free childcare deposit loans of up to £1,500 for each child
- Tax-efficient childcare payment support available upon returning to work
Vodafone
- As well as many enhanced leave policies Vodafone established a Ready Parents & Carers Network in 2019, a grassroots initiative to provide holistic support, offering practical help, policy guidance and wellbeing signposting
Zurich
Beyond its enhanced leave and supportive carers’ policies the insurer offers
- Additional leave for those birthing premature babies
- IVF support
- Miscarriage support
- Bereavement and compassionate support
What help is available to parents for childcare costs?
CHILDCARE can be a costly business. Here is how you can get help.
- 30 hours of free childcare – Parents of three and four-year-olds can apply for 30 hours of free childcare a week.
To qualify you must work at least 16 hours a week at the national living or minimum wage and earn less than £100,000 a year. - Tax credits – For children under 20, some families can get help with childcare costs.
- Tax-free childcare – Available to working families and the self-employed, for every £8 you put in the government will add an extra £2.
