Perkbox Vivup, the global benefits, engagement and wellbeing platform, reveals new proprietary data showing its users have increased their use of employer-provided children’s entertainment vouchers* by 21%, between July 2023 and July 2024, as parents increasingly seek support from employers to manage their rising childcare costs.
The data from Perkbox Vivup’s platform, which includes the children’s entertainment redemptions of over 80,000 UK users, reveals a:
- 21% increase in the redemption of employer provided children’s entertainment vouchers between July 2023 and July 2024;
- 6% increase in the redemption of employer provided children’s entertainment vouchers between term time (June 2024) and the school holidays (July 2024).
According to children's charity Coram, UK parents are predicted to spend six percent more on the cost of holiday childcare compared to last year. What’s more, the Phoenix Group revealed that the average monthly cost of childcare and children’s activities is £1,683 higher during the school holidays compared to term time.
Venetia Leigh, Wellbeing Operations Director, Perkbox Vivup comments: “Every year, parents face the same struggle: balancing childcare costs against taking time away from work to look after their children.
“Not only is this a difficult and stressful decision from a financial perspective, it’s also emotionally charged. Parents may feel guilty, anxious, or overwhelmed by the competing demands of work and family. It's important for employers to understand how this struggle will translate to the working environment, and affect employees’ wellbeing and engagement.
“With the financial burden proving even more acute this year, employers should look to offer meaningful support that extends beyond just the summer holidays. Employers can do this by providing flexible working arrangements, tailored rewards and benefits, employee assistance programmes, and a supportive and inclusive culture”.
Top tips for employers seeking to better support parents, include:
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Parents network: Establish a "parents/carers network" to create a support network and give practical support.
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Flexible working hours: Encourage parents to adjust their work schedules to better align with their family needs. This can include flexible start and end times, compressed workweeks, or the option to work from home.
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Connective care: Offering access to all forms of family care from a single point. This helps employees choose the care they need, when they need it, from a wide range of trusted providers.
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Personalised rewards and benefits: Offer personalised rewards and benefits that empower parents to select the rewards that suit them best.
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Wellbeing support: Make sure you have an Employee Assistance Programme (EAP) service to support employee's emotional wellbeing. If one already exists, re-promote it.
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Introduce a caring passport: This is a document an employee can take with them if they move between teams, roles, managers which promises that any allowances made for their caring responsibilities travel with them.
