The evidence is clear that providing corporate benefits to support employees with fertility treatments and childcare costs is a worthwhile investment for companies. Caregiving benefits can significantly impact retention and serve as an effective recruiting tool, with a notable portion of workers seeking new jobs to secure fertility coverage. According to a recent report by the childcare startup Vivvi and the consultancy the Fifth Trimester, companies that assist with the high costs borne by families can see substantial returns. The report, based on case studies, reveals that for every dollar companies invest in caregiving benefits, they can expect a return of $18.93, nearly 18 times the initial investment.
Furthermore, the report presents compelling evidence that childcare subsidies and other family-oriented benefits contribute to increased retention and productivity among parents. Through various case studies, employees reported that benefits like childcare credits and on-site care enabled them to work more effectively. Additionally, flexible hours and remote work policies were cited as beneficial. A large majority of the report's 300-plus respondents expressed a preference for ongoing childcare subsidies over equivalent cash bonuses; 90% indicated a preference for a childcare subsidy of $10,000. Childcare benefits were ranked as more crucial than a 401(k), alongside offerings such as vacation time. Approximately 60% of survey participants stated that childcare subsidies would motivate them to remain in a job for at least four years.
Interestingly, from a company's perspective, many respondents expressed that robust caregiving benefits would lead them to work harder and dedicate more time to internal programs like mentorship. Additionally, nearly 70% of respondents indicated that with subsidized care, they would be willing to frequent the office more often than required by their employers.