Care.com Report Reveals Workplace Common Ground

Care Benefits - Seite 2

Employee Benefits Ease the Financial Burden of Caregiving: The soaring cost of care has employees looking for financially-related care benefits through work and this is an area where employers can deliver meaningful impact. Among family care benefits they would want to receive if they could only have one, employee respondents chose those that would mitigate the cost of care – Dependent Care Flexible Spending Accounts (FSAs) and cash subsidies for care, which ranked first and second, respectively. These same benefits also ranked among the top four family care benefits among employers.

Additionally, 30% of employee respondents ranked cash subsidies for care as the #1 family care benefit they do not currently have but would definitely use if available. For employees who have access to child care or senior care benefits, respondents revealed major savings, reporting an average annual out-of-pocket savings of $2,727 for child care and $2,909 for senior care.

Successful Work Arrangements, including Return-to-Office (RTO), Rely on Family Care Benefits: As more employers ask workers to return to offices and worksites – as 89% of employers surveyed indicated they are – the majority striving for a return to office are providing benefits to support the transition. Child care and senior care benefits rank in the top three for employer respondents (55% and 47%, respectively) which correlates to worker needs. Nearly half (48%) of employee respondents reported that child care benefits were highly critical for them in order to return to office successfully, with 43% responding similarly for senior care benefits.

Family Care Benefits Meet Employers’ Business Objectives and Workers’ Needs:
The majority of HR leader respondents agree that care benefits help meet their objectives, reporting that both child care benefits and senior care benefits have a positive impact on employee productivity (82% and 78%, respectively). In fact, employers ranked child care and senior care benefits among the top benefits they are prioritizing in 2024, with 56% prioritizing child care benefits (up from 46% in 2023), and 50% prioritizing senior care benefits (up from 43% in 2023).

The full results of The 2024 Future of Benefits Report can be found here.

2024 Future of Benefits Report Methodology

The Future of Benefits Report surveyed two samples. The sample of 620 U.S. adults was surveyed from November 11 to December 10, 2023. Sampling was calibrated to ensure a representative sample from each of ten industries. All respondents are C-Suite level executives, HR Managers or higher ranking staff at a company of 100 or more employees, and are at least partially responsible for company decisions regarding employee benefits, confirmed by both consumer-matched data and self-confirmation. Five industries are represented by 75 respondents: (1) technology, (2) finance, insurance, (3) retail, (4) healthcare, (5) manufacturing, construction. Four industries are represented by 50 respondents: (1) food, hospitality, (2) education, (3) transportation, supply chain, warehousing, (4) government, non-profit work. One industry is represented by 45 respondents: the legal sector.