There’s plenty of evidence that providing corporate benefits to support employees with fertility treatments and childcare costs is a worthwhile investment for companies. Caregiving benefits can be a strong driver of retention and an effective recruiting tool, with a not-insignificant portion of workers seeking new jobs to secure fertility coverage.
A recent report—conducted by the childcare startup Vivvi and the consultancy the Fifth Trimester—quantifies the potential payoff for companies that help offset the steep costs borne by families. Through a series of case studies, the report found that for every dollar companies invested in caregiving benefits, they saw a return of $18.93, or nearly 18x.
The report offers more evidence that childcare subsidies—among other family-oriented benefits—help boost both retention and productivity among parents. Across several case studies, employees reported that benefits like childcare credits and on-site care allowed them to work properly; some of them also cited flexible hours and remote work policies.
For many of the survey’s 300-plus respondents, this type of support was more appealing than some of the traditional markers of a good job. In fact, 90% of them said they would prefer an ongoing childcare subsidy of $10,000 over an equivalent cash bonus. When identifying the benefits that were most crucial, respondents ranked childcare benefits ahead of a 401(k), alongside key offerings like vacation time; nearly 60% of people surveyed said childcare subsidies would lead them to stay in a job for a minimum of four years.
Perhaps most importantly, at least for companies focused on their bottom line, many of the survey’s respondents claimed that robust caregiving benefits would enable them to work harder and spend more time on internal programs like mentorship. And nearly 70% of them said that with subsidized care, they would be willing to go into the office frequently—even more often than what would be required by their employers.
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