
What Business Is Saying About On-site Child Care and Precious Time Centers
“Given the positive effects on productivity, providing onsite child care to your employees is good business, plain and simple.”
– Paul Orfalea, Founder, Kinko’s Inc.
“I believe your unique day care concept for corporations nationwide is an outstanding business model.”
– Diane Loomans, President – Global Learning
“Our on-site child development center improved retention rates, reduced lost-time absences due to a breakdown in child care, eased recruitment costs, and uplifted employee morale.”
– Grace Moniz, Former Manager Life-balance Programs Mattel, Inc.
Corporate leaders around the country have this to say about the decision they’ve made to develop on-site child care for their corporate environment:
“In 1996, we implemented benefits including on-site child care. As a result, the bank saved more than $1 million in turnover costs in three years. In 1999, when the industry average was 6-7%, our overall revenue growth hit 11%. We now have one of the highest customer retention rates of any bank in the country. What drives this is our ability to retain employees.”
– First Tennessee Bank
According to a study of the Standard and Poor’s 500 by Covenant Investment Management, employee turnover at companies offering on-site child care is just 4% compared to the industry average of 18 to 20%.
By implementing on-site child care and a nursing mothers program, Aetna cut attrition by more than 50 percent. The result: About a 90 percent retention rate for working mothers after five years, and an annual savings of more than $1 million in recruiting and hiring costs.
DuPont’s CEO Chad Holliday considers the cost for its on-site child care program minor compared to the savings: $243,264 worth of employees’ time spent on the job, instead of at home.
Within 2 years after opening an on-site child care center, Intermedics, Inc. witnessed a 37% reduction in turnover and a 60% decrease in absenteeism – resulting in a savings of 15,000 work hours and $2 million.