Childcare's Role in Workforce Development

73% of your workforce is caretaking for someone. That’s likely the largest single demographic in your community. Want to know the true cost of companies failing to attract, support and retain those of us that are juggling caretaking and work? It’s $35 BILLION a year (according to a study from Harvard Business School). Shocked by that number? I’m not. I see the outcomes of this lack of support every single day. This isn’t just parents caring for kids - caregiving expands much further to include multi-generational support, which is on the rise. 📉 Many of these caregivers are under-represented voices in the workplace and in leadership roles. When we lose their voices we lose revenue too. Companies with more diverse teams have 19% higher revenue and 2.5x higher cash flow per employee. Plus inclusive teams are up to 35% more productive (according to research from Accenture). 💰 Replacing workers is far more expensive than maintaining existing ones (both in time and financial resources), especially in revenue-generating roles. … which all contributes to that $35 Billion a year. So what do caretakers want from their employers? Real flexibility. Without fear of retribution. For some that means flexibility at work so they can stay at their full-time jobs while managing caretaking responsibilities. (I remember two years ago when an enterprise employee reached out to me to share that her proposal for part-time work went up to the GM only to be denied.) For others, it’s turning to self-employment. (I get 200+ DMs per year of folks who are leaving traditional employment to jump into independent work) So as an employer, what’s your next move? I’ve got two major plays for you: 1️⃣ Modernize Caregiver-Focused Company Policies When we build policy to center caregivers, everyone benefits. Caregivers need flex time, childcare support, PAID LEAVE, and resources like manager training and ERGs for caregivers who care for other adults. 2️⃣ Adopt a Blended Workforce Model This is where independent/contract workers team up with regular employees to complete both ongoing work and deliverable-based projects. Sometimes blended teams are made up of full-time employees and folks who downshift into part-time contract work. Fractional models are also popular here for senior and highly-skilled leaders stepping into new caregiving chapters. 🌟 For the record, that second one is where we shine at Lions & Tigers. We’re building and supporting blended workforces that put mothers and professionals in the global majority at the center and drive innovation and profitability. 🌟 And ultimately we’re co-designing a more human and valued work experience alongside our clients. Since 2018, we’ve enabled $34M of economic access for over 240 consultants and helped employers like Microsoft, Smartsheet and Alaska Airlines build the future of work. (More about navigating career attrition on the L&T blog 👇) 

"The [6 mo.] pilot helped to avoid 120 unplanned absences and reduced turnover in the pilot group from 31% to 4%." - UPS Sounds like some major wins! The pilot? Childcare for frontline workers at UPS 🧒 📦 When 1/3 of the workforce has a child under 14 and nearly 50% of Americans live within a childcare desert, the partnership UPS & Patch Caregiving is 👏👏👏 Also worth noting — in a company that has a high promote-from-within culture, UPS noted they were also seeing people having to quit when moving from part-time to full-time supervisor (think #women, #singleparents, etc). What a waste! Not to mention all the downsides of losing good talent: decrease in employee morale, loss of IP, cost to replace and retrain..... 🚫 These aren't the jobs you can do from a laptop at home. Your delivery drivers and the teams behind them are working overtime in Q4! (I can personally attest to this as my husband ran and operated a Fedex Ground business in many Q4s and during the pandemic...). 💡 So the takeaway? How is your company thinking about childcare? Too often, we see companies think if they can't offer the world, they can't do anything. Start small. Test. Think outside the box. Just do something. Trust me and your bottom line will thank you. Because what we've seen time and time again, supporting caregivers at work isn't just the right thing to do...it's good for business. Let's chat if you want help thinking outside the box and looking at ways to improve employee retention, morale and performance in 2024! ⚡ cc: Superkin #HRdive #CHRO #HRbenefits #workingparents #frontlineworkers #hourlyworkers #desklessworkforce #childcare #childcarecrisis #deliverydrivers #UPS #fedex #transportation

As a leader and working parent myself, it’s critical to acknowledge the dramatic shifts working parents have experienced over the past three years and an employer’s ability to help working parents navigate these shifts. Employee support doesn’t end with a child’s arrival, employers can help support the day-to-day care that every parent struggles to manage through resources like: Back-up daycare and babysitting services from qualified caregivers, as employers recognize the difficulties their people face when things fall through at the last minute. Assistance with finding vetted providers by providing memberships to hiring sites where background-checked childcare professionals can be found. Parenting apps that can help across many dimensions, from health and safety concerns to tracking developmental milestones, receiving trusted advice and resources, establishing routines and helping with educational activities. Let’s also not forget about creating an environment that supports the overall wellbeing of working parents. Flexible work arrangements and family-friendly cultures attract and retain talent. The return on such investments is significant: https://lnkd.in/gynsxPrD

Imagine a scenario where thousands of working parents — mostly mothers — are faced with the impossible choice of either cutting back on hours, opting for a less demanding job, or staying at home because affordable, accessible childcare options have disappeared. This is the reality we're approaching and it's not a pretty picture. Pandemic-era aid for childcare will soon end and it will have a huge impact on women’s ability to participate in the U.S. workforce. Millions in aid support will end on September 30, which will force thousands of already strained childcare centers to either shut down or raise their costs. These disruptions won’t be a mere temporary inconvenience for families; they threaten to throw away the hard-won gains #women have made in the #workforce in recent years and exacerbate labor shortages. According to the New York City Economic Development Corporation, the city lost 23 billion in 2022 because parents had to cut hours or leave work because of child care costs. Other pandemic-era programs are set to expire at around the same time, putting added pressure on families' pockets. As we navigate the post-pandemic world, it's vital that we remember the lessons we've learned and the importance of supporting women in the workforce. We need better childcare policies and funding at both the federal and state levels. Data shows that labor market outcomes improve for women when there is an increase in access to care, an increase in care hours, or a reduction in the cost of care. Specifically,  designing childcare services only with the objective of early childhood development in mind may not realize improving labor market outcomes. For example, the hours of operation of childcare facilities matter, as well as the provision of childcare for younger children (under the age of 3). Corporations and other employers also have an important role to play — they can provide access to affordable childcare options, encourage flexible work arrangements and remote work options to accommodate working parents, and design workplaces that take into consideration the needs of pregnant women and mothers of young children. Let's support and advocate for women by working together to find creative solutions to ensure that women don't bear the brunt of these disruptions. Share your thoughts and ideas below 💬💡 👇 #ChildcareMatters #WomenInTheWorkforce https://lnkd.in/eu8pDSzJ

After 35+ years in the business of location strategy and real estate solutions, I have heard the topic of day care mentioned consistently within the reference of workforce availability, quality and reliability, in all sectors of the economy, in all geographies whether urban, suburban or rural, and in all functions of the workplace including office and industrial. In fact, my first site selection project that I got to lead back in the 90s was enabled by my client (an excellent COO and Head of HR BTW) who really got it, to develop a day care program with the local community of Jonesboro, AR, to help with second and third shift recruiting for a new food processing plant. I was very very proud of the solution we developed, it mattered. Women in the workforce is the next topic that the Investment Advisory Council (IAC), Workforce Development Committee, of the U.S. Department of Commerce is tackling this 1st quarter of 2024. I offered to support a fellow colleague who is the President of a large automotive manufacturing firm who will be solutioning and testing several recommendations for policy development and urban to rural programmatic enhancements. I am proud that the IAC is willing to tackle real world issues that have implications that are critical to keeping the U.S. economy truly competitive, but oh so much more in implication as this opinion article summarizes with respect to improving our diverse and changing workforce, workplace and mental wellness.

The return on investment (ROI) for childcare, particularly high-quality early childhood education, is significant. Studies have shown that investing in these programs yields a return of $7 to $10 for every dollar spent. This not only leads to economic benefits but also long-term outcomes, workforce participation, social advantages, and health benefits. - Economic Benefits: Investing in high-quality early childhood education programs results in reduced costs in special education, grade repetition, and remediation. It also lowers social services, healthcare, and criminal justice expenditures while increasing tax revenues from higher earnings. - Long-term Outcomes: Children who benefit from quality early childhood education achieve higher educational attainment, earn more throughout their lives, and are less likely to engage in criminal activity, reducing societal costs associated with crime. - Workforce Participation: Reliable childcare access enables more parents to join the workforce, boosting household income, economic stability, overall productivity, and economic growth. - Social Benefits: Quality early childhood education fosters better social and emotional development, leading to improved behavior and social skills. This translates to better classroom environments and lower rates of behavioral issues, reducing the need for disciplinary actions. - Health Benefits: Early education programs focusing on health and nutrition promote better physical and mental health outcomes for children, ultimately reducing long-term healthcare costs. The ROI for childcare extends beyond financial gains to encompass social, educational, and health advantages, contributing to a more prosperous and resilient society.

Last week, G7 Leaders and partners gathered in Apulia, Italy. With all the headlines, you may have missed important commitments they made to advance women's economic security. For the first time ever, they underscored the importance of strengthening the care economy as essential to enabling women's economic leadership, and set a target to track progress, "aim[ing] by 2035 to support 200 million more women to join the workforce by investing in efforts to close the global gap in the availability of childcare, including through the The World Bank Invest in Childcare Initiative." USAID helped launch the WB Invest in Childcare Initiative two years ago, with a commitment of $50 million over 5 years. This public-private partnership is showing immense impact, and we are confident that through it--and in partnership with other G7 nations--we will reach the historic target set last week. For more on why investing in the care economy matters: - Check out #TheHill op-ed I wrote with Bama Athreya, where we outline how the right investments in care infrastructure worldwide are job-creating, enable women’s economic participation, and create strong foundations for our children. https://lnkd.in/eudW5V6w - Watch this video about Portia, a childcare center owner in #SouthAfrica, who is one of 600 entrepreneurs that #USAID, in partnership with Grow ECD and Kaizenvest, trained to improve early childhood care and education while building a financially sustainable business. https://lnkd.in/exkZu3kD - Check out how USAID's GEEA Fund is enhancing care infrastructure as one of its flagship priorities: https://lnkd.in/eaqS3dU2 - Read the full G7 Leaders Statement here, with more on gender equality and women's empowerment: https://lnkd.in/eXmR4tJf Rachel Vogelstein Stephanie Mulhern Ogorzalek Amanda D. Anjali Fleury Corinne Hart Jamie Gow

When our childcare infrastructure collapsed during the pandemic, many women simply left the workforce in what was dubbed the "she-cession." Since then, the rapid recovery has succeeded in drawing women back in record numbers. That's amazing news! But this improvement shouldn't overshadow the potential productivity of the female labor force. There are still too many moms who are on the sidelines because our nation's child care system is broken. A new poll by First Five Years Fund finds that 59% of part-time or non-working parents say they would return to full-time work if they had access to quality childcare at a reasonable cost. This figure encompasses moms *and* dads, but too often, women end up being the stopgap when the schedule goes awry. Funding for childcare and early education pays economic dividends in so many ways. Not only is it a key driver of our children's success later in life, but it can also help women reach their true potential now. https://lnkd.in/gsyfM6gs

“An overwhelming 85% of primary caregivers said problems with child care hurt their efforts or time commitment at work. These challenges had predictable impacts…As a result, families lose $78 billion per year in forgone earnings and job search expenses. Meanwhile, productivity problems cause employers to lose $23 billion annually due to child care challenges faced by their workforce. Taxpayers, in turn, lose $21 billion each year in lower federal and state/local tax revenue. Beyond its #impact on the workforce and #economy today, the infant-toddler child care crisis damages the future workforce by depriving #children of nurturing, stimulating environments that support healthy brain development while their parents #work. *Access: More than 1/2 of U.S. residents (51%) live in a child care ‘desert,’ where there are more than 3 children under age 5 for every licensed child care slot. Availability is especially limited for families who have infants and toddlers, have low incomes, work non-traditional hours, or live in rural areas. For example, 60% of rural residents live in a child care desert. *Affordability: The average cost of center-based child care for infants is more than in-state, public college tuition in 34 states and the District of Columbia. *Quality: Among the shortcomings in quality are high rates of provider turnover, due in large part to inadequate compensation. As a result, young children face a lack of stable, consistent caregiving.” Excerpts & image below from Report by Sandra Bishop, Ph.D. Council for a Strong America ReadyNation linked in full here: https://lnkd.in/eHq8gB-Y “In a national poll this summer, 74% of voters said they wanted to see increased federal #funding for #childcare, including 61% of Republicans, 74% of independents and 86% of Democrats…The 19th posed questions to every member of Congress: What is your stance on federal child care #policy? What kind of child care policy would you support? Over nearly 4 months, The 19th contacted and repeatedly followed up with every single congressional office. Only 142 of 535 members, a little over a quarter, answered: 135 Democrats, 5 Republicans and 2 independents… ‘Child care is a winning investment — you will 100% get a return on this investment.’ Kathryn Anne Edwards. #Data is clear that the investment in child care would support both the current and future workforce. It’s an economic issue.” All Excerpts and quotes written by Chabeli Carrazana in this article: https://lnkd.in/efF4dr4w #investing #government #assetmanagement #finance #sustainability #entreprenuership #innovation #strategy #business #leadership #money #cultureofmoney

America's lack of national #childcare policy is particularly puzzling given the staggering costs to the nation associated with the lack of a considered policy — and the compelling educational and economic benefits of child care and early education.  According to a study released in February by the Council for a Strong America, the lack of adequate child care currently costs American families $78 billion each year, businesses another $23 billion, while government tax revenues are reduced by $21 billion — for a total annual cost of $122 billion, double the national loss estimated in 2018. By stark contrast, research by economist James Heckman, Nobel laureate and director of the Center for the Economics of Human Development at the University of Chicago, has shown that high-quality birth-to-5 child care programs deliver a 13 percent per child annual return on investment through better outcomes in education, health, social behaviors and employment, reduced taxpayer costs, and preparing the country’s workforce for a competitive future. American families, women, and children — and taxpayers — deserve a national commitment to quality and affordable child care. https://lnkd.in/ef_zUAbE