Saying goodbye to childcare vouchers?

Drum roll please…

It’s official! The number of working families has reached its highest since comparable records began over 20 years ago.

While it is very exciting, for employers it’s probably not such a surprise – and we commend you.

Today’s employers are recognising the skills, talent and value that working families bring and are offering more and more benefits to support mothers and fathers in the workplace.

It’s a fact of life now that when you hire someone, you hire the person and their family – the whole family. Comprehensive family benefits enable employees and families to manage all stages of life. They support the organisation too in recruitment and retention, especially in today’s competitive job market.

Childcare vouchers are among the popular family friendly employee benefits with families making significant savings through vouchers on the cost of formal childcare. According to Aon’s 2018 Employee Benefits Trends Report, vouchers consistently rank among the most important online and flexible benefit to employees of all genders and generations – and an essential item.

But with vouchers currently set to close to new entrants from 4 October 2018 and the introduction of Tax-Free Childcare, what’s next for employers in their pursuit for talent?

People need real benefits, not trendy benefits

While Google’s slides are cool, they don’t make culture on their own. Instead, in a survey of over 1,000 employees real, tangible benefits came out on top.

Here at Bright Horizons, we’re hearing the importance of our real life benefits for working families and have heard people talk about childcare and workplace nurseries, back-up care and coaching with words like ‘without it, I wouldn’t have joined’

But not all serious business, either

Socialising builds relationships, creates workspaces and socialising events. One author told HR Magazine that fun pays back in dividends, with employees who have ‘fun’ more likely to report higher levels of psychological wellbeing, motivation, collaboration and commitment – not to mention less absent – than those who do not.

So, the middle ground!

Filling the hole from childcare vouchers doesn’t mean businesses should rush just to register for healthcare, or to impulse purchase the ping pong table. Employees need a blend of benefits of both practical family solutions, plus a little fun along the way! There’s a reason why in addition to offering our employees childcare, health care and back-up care, we also have awards events, lunch celebrations and board game days – people love it.

In a nutshell, people brag about the whole experience of working somewhere: from the support it provides to them both professionally and personally as individuals and a family to the culture and celebrations that they’re part of.