Will childcare costs affect your business?

A recent survey has suggested that one in five parents are contemplating reducing their hours or quitting their job entirely due to the cost of childcare.

Tristram Hunt, the shadow education secretary has highlighted that childcare costs have increased by 30% since the Conservatives have taken power, but wages have not matched this inflation.

Anne Longfield the chief executive of 4Children feels that rising costs are a problem not just for families but also the economy,

“Childcare represents a huge financial challenge for most parents and our poll shows the real impact costs are having on family life – from giving up work to cutting back on essentials. Removing parents’ choice as to whether or not they continue to work after having children is not the answer for families or for the economy.”

Has your business considered changes to help employees with childcare issues, such as flexible working hours or shared parental leave?