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Is the cost of childcare impacting your work?

Posted on 21 November 2016

Is the cost of childcare impacting your work?

With childcare costs rising year on year and wage growth hardly increasing there’s more pressure being put on parents to save money by forgoing the babysitters and afterschool clubs and cutting time out of work to drop the kids off at school, pick them up or if they’re young then stay at home and look after them.

This isn’t just an isolated issue, according to a recent survey by the British Chamber of Commerce, over a quarter of employers have seen their employees reduce working hours because of the cost of childcare and 10% of businesses have employees who left work all together to focus on childcare. 

While parents are the ones who are most affected by this, employers have also voiced their concern. A third of firms see this as a key issue in recruiting and retaining staff, with talented employees having no options but to cut down on work or leave all together. 

There is some optimism though, with the Government planning on increasing free childcare to 3 to 4 year olds, nearly 40% of firms have said this will have a positive impact on staff retention and recruitment.  

If you’re a working parent who is under pressure from rising childcare costs then click here to find out what help is available from the Government.