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Firms And Staff Impacted By Childcare Costs

A third of businesses see childcare as a key factor in recruitment and staff retention, according to British Chambers of Commerce (BCC) and Middlesex University.

A survey on more than 1,500 firms found that 28% have seen their employees reduce working hours due to the cost of childcare.

9% of firms have seen their staff leave the business due to childcare costs.

Other findings:

  • 12% saw a reduction in productivity, while 8% saw their staff change roles within the business due to childcare costs
  • 33% expect plans for free childcare in 2017 to have a positive impact on recruiting staff
  • 37% said the plans would help them retain key staff.

Adam Marshall, director general at BCC, said:

“At a time when economic growth is softening, and skills gaps and recruitment difficulties are hindering businesses, the government should consider the childcare system as part of Britain’s core business infrastructure – in the same way that it thinks of energy, transport, or broadband.”

David Williams, director of corporate engagement at Middlesex University, said:

It is crucial that there is sufficient affordable childcare available for employees who are studying to help fill the skills gaps.

For any help or advice with financial planning talk to RPD

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