How Companies Can Support Working Parents
By Sarah Brennan, Consulting Manager
Let’s face it: being a working parent in 2024 is like trying to juggle flaming torches while riding a unicycle. On a tightrope. Over a pit of alligators. The soaring costs of childcare are pushing many parents to the brink. On average, families are shelling out over $700 a month for childcare – a 32% jump since 2019.
For some, that’s more than their mortgage payment. In fact, the average cost of childcare for two children is higher than the average cost of rent in all 50 states. It’s no wonder that many are questioning whether working even makes financial sense anymore. But it’s not just about the money. The mental load of balancing work and family responsibilities is taking a serious toll. A recent advisory from the U.S. Surgeon General highlighted the alarming rates of anxiety, depression, and burnout among parents.
A Parentaly study noted that 73% of new parents “occasionally” consider leaving their organization. So, what can companies do to keep talented parents at their organizations? Here are some innovative approaches gaining traction:
On-Site Childcare
Intel is investing $50 million in childcare centers near its new semiconductor plants. By removing a major pain point for employees, they’re ensuring a stable, focused workforce. That said, not every company can afford such an investment. This is likely more practical for large organizations with parents required on-site.
Childcare Subsidies and Backup Care
For small and mid-sized organizations, childcare subsidies and backup care solutions might be a better fit. Some organizations, such as Athena Health, are offering stipends to offset childcare costs or providing emergency backup care options. Some caregiving or babysitting platforms like care.com offer programs that utilize their network to provide emergency backup care for situations like school closures and sitter cancellations. This can be a lifesaver when regular arrangements unexpectedly fall through.
Flexible Work Arrangements
The pandemic proved that remote work can be effective. Archetype offers a hybrid workplace where employees can choose to work from home or the office, with quarterly on-site weeks scheduled months in advance to both accommodate busy schedules and ensure in-person time is productive and focused. Now, many companies are making flexibility the norm, not the exception, and remote work is just the start. Other creative flexible options include hybrid schedules, compressed workweeks, or job-sharing options. Allowing parents to use sick time for caring for their children can make the stress of the “daycare illness” feel less overwhelming.
Addressing Bias
Let’s be real: motherhood bias is still alive and kicking in many workplaces. Companies need to actively combat assumptions about working parents’ commitment and capabilities. This means training managers, revamping performance review processes, and creating clear paths for advancement. Promoting caregiving at all levels of the organization and encouraging male employees to take their paternity leave may help to lower the stigma.
The bottom line? Supporting working parents isn’t just the right thing to do – it’s a business imperative. Companies that crack this code will have a major edge in attracting and retaining top talent. So, let’s ditch the outdated notion that parenting and career success are mutually exclusive. It’s time to build workplaces that truly work for families. Need help evaluating the best solutions for you? We can help: hello@archetypegrowth.com