Why Companies Offering Childcare Support Are Also Helping To Tackle The Gender Pay Gap
Plus 15 Companies With Childcare Benefits hiring now
Ever since Amazon made headlines earlier this month when parents at the company asked for back up daycare, I've been thinking about the implications of childcare options (or a lack thereof) for working parents.
My boss (a.k.a PowerToFly's kick-butt cofounder Katharine Zaleski) really put it into perspective for me when she spoke with Bloomberg about the importance of childcare support for working women.
Because men in the U.S. tend to make more money than women, moms are more likely to stay home when their kids are sick, or to give up their careers all together if the price of childcare isn't affordable. (In some states, annual childcare costs exceed $20,000! Consider how much you'd need to be making pre-tax in order to justify that kind of expense… there are different tax benefits you can take advantage of, but still, it's a lot of money!)
Similarly, employers aren't obligated to pay you if you have to take time off to care for a sick child (though you are guaranteed up to 12 weeks of unpaid leave through FMLA). In these cases, logic would dictate that the spouse making less money stay home to take care of the child…which tends to be the woman.
So, whether it's taking a day off to care for a sick child or pressing pause on their careers all together, women continue to do a larger share of work in the home… and that has serious repercussions for their careers. Although women and men are paid more or less equally at the start of their careers, in their late 20s to mid 30s (a.k.a the childbearing years), the gap starts to widen significantly. And while the gap is most significant for women who choose to have children, studies have shown that the gap widens for women in their late 20s/early 30s who don't have children as well!
This is all indicative of a vicious cycle in which women stay home more often with their children because they're paid less, and companies pay women less because they think they might prioritize their kids over their job… So what can employers do to help break this cycle?
Studies have shown that offering childcare benefits can reduce absenteeism by as much as 30%, and turnover by up to 60%.
As it turns out, however, onsite daycare is a relatively uncommon perk - less than 8% of American companies offer it. And while it would be unfair to expect midsize companies to live up to the daycare perks offered by tech juggernauts like Google and Apple, there are other childcare-related benefits that make a big difference for all working parents, but especially moms, who tend to bear the brunt of childcare responsibilities.
From generous paid parental leave (stay tuned for another post on that soon!), gradual returns to work, paid time off to take care of sick children, and childcare benefits like backup daycare and flexible spending accounts, there's a lot that employers can do to help ease the burden of childcare expectations placed on women.
Because as Katharine says, "women shouldn't have to choose between their children and their careers".
Check out the benefits these 15 companies offer to support working parents' childcare needs!
Bonus Points: Dow Jones also offers a return-to-work program for anyone who has been out of the workforce for two years because of childcare, family care, or other life events.
Caring for Kids Programs (Including Subsidized Care Programs)
Bonus Points: Intuit offers a return-to-work program and flexible work arrangements.
Special Discounts on Childcare & Subsidized Backup Care
Dependent Care & Childcare
Bonus Points: Work from home + reduced/flexible hours.
Backup Dependent Care & Dependent Care Flexible Spending Account
Dependent Care Flexible Spending Account
Backup Childcare & Dependent Care Flexible Spending Account
Dependent Care Flexible Spending Account
Dependent Care Flexible Spending Account, Backup Childcare Centers, & Helping Parents Find the Right Nanny
Bonus Points: Family and individual sick days.
Dependent Care Reimbursement Account
Bonus Points: Flexible schedules.
Dependent Care Spending Accounts & Childcare Backup Support
Dependent Care Flexible Spending Reimbursement Account
What childcare benefits mean the most to you? Let us know @powertofly.
If you are a skilled tech professional working as a Software Engineer, Product Manager, UX Researcher or Compliance Project Manager and you would like to attend this virtual event, please email your name and LinkedIn URL to email@example.com to be considered for an invite.
Join Microsoft and PowerToFly for an intimate virtual event to hear from a panel of business and technology leaders from the Microsoft Azure AI Platform organization who will discuss their career journeys, dive deeper into current projects and answer your questions.
This special virtual gathering will be hosted on Microsoft Teams on Thursday, April 23rd from 3:00 PM PT to 4:30 PM PT (6:00 PM ET to 7:30 PM ET).
Agenda (Subject to Change):
- 3:00 PM PT - Kick-Off from PowerToFly
- 3:05 PM PT - Keynote address by Microsoft's Maria Alvarez, GM - AI Platform - Cloud + AI Division
- 3:15 PM PT - Panel Discussion & Audience Q&A featuring Microsoft Leaders
- 4:30 PM PT - Event concludes
I've been thinking about women's ingenuity a lot recently; after all, crises like the one we're facing now fuel innovation. They especially fuel innovation from those who are on the frontlines, in desperate need of solutions.
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A Conversation with Freddie Mac's Stephanie Johnson
When Stephanie Johnson, currently an Information Security Manager at Freddie Mac, was just starting her career as an IT professional, she found herself sitting in her car one night after work asking herself, "Why am I not being heard? Should I adjust my tone? Posture? What I'm saying?"
For when you can't read one more bad-news story.
I would never argue that the novel coronavirus is a good thing. COVID-19 has or will cause many deaths, a long-lasting global economic slowdown, and rampant general stress and anxiety.
As schools across the nation close, and the majority of businesses mandate remote work, working parents are now faced with the ultimate challenge - how to balance their families and jobs under one roof while COVID-19 still remains a concern.
PowerToFly is bringing thought-leading professionals (and working moms!) to speak about balancing our new realities and how to best optimize your time at home. In this panel, we'll discuss maneuvering the difficulties of working from home from taking conference calls to juggle homeschooling/ childcare.
Don't feel the pressure, your children, partner and pets are welcome to join this virtual chat!
Join us for this live Q&A to learn new tips, strategies, and hear personal anecdotes from our panelists that have shaped these women into the incredible founders and mothers they are today. You will have the opportunity to ask questions during our free, virtual conversation and have the chance to snag a giveaway sponsored by PowerToFly and our panelists!
Meet the Panelists:
Christine Michel Carter, Creator of Mompreneur and Me
Featured in The New York Times and The Washington Post, Christine Michel Carter is the #1 global voice for working moms. Christine clarifies misconceptions about working mom consumers for brands and serves as an amplifier of their personal truths.
Mary Beth Ferrante, Co-Founder & CEO of WRK/360
Mary Beth Ferrante is a mom of two and advocate for creating inclusive workplaces for parents. She is the Co-Founder & CEO of WRK/360, a career development platform designed for working parents and managers to help companies support, retain and recruit working parents. In addition, she is a senior contributor for Forbes and her work has been featured in Today, Thrive Global, Working Mother, FairyGodBoss, ScaryMommy, and other leading publishers.
Amy Henderson, Founding CEO of TendLab
Amy Henderson is the founding CEO of TendLab, a consultancy addressing the challenges and opportunities parenthood brings into the workplace. TendLab's research-based approach reveals how parenthood can unlock career-critical skills--such as resiliency, courage, and the ability to collaborate--skills which are especially important during this COVID-19 pandemic.