What are Childcare subsides?
Offering a childcare subsidy is a great way to support your employees with their childcare costs. A childcare subsidy means part of an employee's childcare fees are paid for by your company.
Why should you offer childcare subsidies?
Benefits to your employees:
- Save on the cost of nursery fees — employees can save potentially thousands of pounds with a childcare subsidy.
- Peace of mind that their children will be cared for while they're at work.
Benefits to you:
- Reduced payroll tax and national insurance contributions
- Improved employee retention
- Attract better talent
- Happier & more productive employees
- Reduce absenteeism due to unavailable childcare.
If you're looking to set up a childcare subsidy as part of a comprehensive parental policy, check out our guide to parental leave for more info!