The emotional and financial demands of raising children often leave parents feeling overwhelmed, particularly with rising financial pressures. According to the children’s charity Coram, childcare costs have increased by 6 per cent this year, with the average annual cost for a full-time nursery place for a child under two reaching £15,709.

While the government’s new initiative offering 30 hours of free childcare weekly for three to four-year-olds is a step forward, it remains insufficient for many families facing rising childcare costs. Consequently, parents are increasingly seeking support from their employers. Figures from Perkbox Vivup show a 21 per cent increase in the use of employer-provided children’s entertainment vouchers during the most recent summer holiday.

This financial strain is affecting parents’ wellbeing at work, leading some to leave the workforce, which risks a talent drain for employers. Women are particularly affected, being seven times more likely than men to exit the labour market due to caregiving responsibilities, contributing to the gender pay gap.

Employers can address this issue through dedicated parent spaces, tailored benefits, and employee assistance programmes, ensuring meaningful support for working parents.

A culture of inclusivity and support

With over a quarter of the UK’s workforce estimated to be parents, it’s likely that many employees will be trying to balance their jobs with caring responsibilities.

Creating a culture that accommodates such responsibilities is critical. For instance, employers should encourage parents to adjust their work schedules to better align with their family needs. This can include flexible start and end times, compressed work weeks, or the option to work from home.

Formalising flexible working arrangements can also be a useful tool, as if parents move between teams, roles or managers, it ensures that any allowances made for their caring responsibilities travel with them.

Customised perks and benefits

Often overlooked, the provision of tailored perks and benefits can offer parents financial support, whilst also supporting a diverse and inclusive workforce.

From children’s entertainment vouchers to supermarket discounts, employers should offer a broad selection of perks and benefits for employees to choose from. This choice means they get access to the support which fits with their unique personal financial situation and the distinct challenges they are facing, no matter what their caring responsibilities might be. This implicitly emphasises the value of each worker as an individual, especially when compared to blanket benefit offerings that may be completely unsuited to some.

Wellbeing assistance

Parenthood can bring immense happiness, but it can also come with significant emotional and financial stress.

Implementing an Employee Assistance Programme (EAP) service that can address issues before they make an impact is crucial. To do so, an EAP should integrate preventative care, early intervention, and expert clinical support. And if a holistic EAP offering already exists, re-promote it regularly, so employees know where to go, should they need additional support.

Organisations can also establish a “parents’ network”, to create a dedicated forum for those with caring responsibilities to support each other and share practical tips.

Simplifying existing benefits offering

Many employers already offer a number of benefits that will support parents. However, such policies are often buried in an employment contract or scattered across a number of initiatives.

Offering access to all forms of family care from a single point, goes a long way to ensuring that parents have access to the full range of support on offer – and encourages people to take up the offering.

Taking action

Supporting working parents is crucial for retaining talent and fostering inclusion. Rising childcare costs and caregiving duties are causing significant stress, especially for women, and leading some to leave the workforce. This should be a call to action for employers.

Meaningful support will mean businesses offering flexible working, tailored perks, and easy access to benefits. Together, these will help create a supportive culture which eases pressures, boosts wellbeing, and builds a more loyal and diverse workforce.

Venetia Leigh is wellbeing operations director at Perkbox Vivup.

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