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Employee reward and benefits news
Parents 'considering quitting work due to childcare costs'
Working parents are considering quitting their jobs due to childcare costs, according to new research, indicating that flexible benefits could make workers' lives easier.
Research conducted by Daycare Trust and Mumsnet revealed that the high cost of childcare is forcing parents to turn down job opportunities and borrow money, with over a third of parents having considered leaving work.
Furthermore, more than one in ten parents have quit a job solely because of childcare costs, with 20 per cent turning down offers of work due to these sky high prices.
On top of this, 37 per cent pay the same or more for their childcare than they do on their rent or their mortgage - a figure which highlights just how much income the service eats up.
In order to be able to pay childcare costs, 14 per cent of parents have had to turn to friends, family and credit cards, while 17 per cent have been unable to pay what they owe on time in the past.
Thomsons Online Benefits' award-winning flexible benefits solutions can help you to drive employee engagement and get better value for your reward spend.
Posted by Editorial Team
June 27th 2012
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