Challenges
Access, Worker Issues
Location
Nationwide
Stakeholders
Businesses
Beneficiaries
Parents, Children
Overview
Synchrony, a consumer financial services company, partnered with a private vendor to provide a large number of backup care days annually.
Key Impact Metrics
-
45%
reduction in unexpected absences
-
60
days of backup care annually
Problem
45% of mothers who left the workforce cited a lack of childcare or childcare expense as one of the reasons why they left the workforce—contributing to nearly 1 million women leaving the workforce as of September 2022. 56% of part-time or non-working parents would go back to work full-time if they had access to quality childcare at a reasonable cost. Synchrony found that many of their employees wanted some sort of childcare benefits package and decided to provide a backup care benefit for their employees.
Solution
Synchrony partnered with Bright Horizons to offer 60 hours of subsidized backup childcare per employee each year. This service allows employees to book emergency care at centers or with in-home caregivers when their regular arrangements fall through. In addition to childcare, the program includes eldercare backup and 22 weeks of paid maternity leave for birthing parents, and parental leave for all parents. Synchrony covers most of the cost for the childcare, ensuring affordability and easy access for employees across income levels and locations.
Results
- Beneficiary ImpactThousands of care hours used annually, and 60 days of backup care offered annually
- Employee ImpactImproved reported recruitment, higher reported job satisfaction
- Financial ResultsHigher productivity due to a 45% reduction in unexpected absences
Replication Tips
- Partner with an experienced provider like Bright Horizons for nationwide consistency.
- Subsidize care costs generously to ensure participation across income levels.
- Promote the benefit often—include it in onboarding and training.
- Include other care options, such as eldercare options, to broaden appeal.
- Track usage and feedback to measure effectiveness and adjust annually.
- Ensure easy booking via mobile apps or employee portals.
Suggested Implementation Timeline
~6-9 months
