Business NewsFlooring Headlines

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

Show More

Floors Magazine brings you daily flooring news, features, tenders, events, jobs and everything in-between.

Related Articles

Back to top button