Soaring Childcare Costs Force Working Parents to Use Annual Leave to Cover School Holiday Childcare
New research reveals that more than half of working parents (55%) are using annual leave to cover summer childcare commitments
A new study has revealed the challenges faced by working parents in managing childcare commitments during the summer holidays.
The research, among more than 1,000 parents by IWG, shows that almost two thirds (62%) of working parents find arranging childcare for the school summer holidays to be a significant source of stress. Consequently, over half (55%) use their annual leave to meet childcare responsibilities, whilst over 1 in 10 (12%) use their entire annual leave entitlement in the process.
The stats demonstrate the challenges parents face balancing work and childcare responsibilities. 43% of parents adjust their work schedules by working fewer hours, with 31% working early in the morning to cover childcare during the day, while 29% work late in the evening for the same reason. Additionally, 29% feel that their work suffers because they have to allocate more time to childcare.
These findings underscore the pressing need for more comprehensive solutions to support working parents, particularly during the summer months when school is out. The significant stress associated with arranging childcare is not just a personal issue but one that impacts workplace productivity and overall well-being. To alleviate this burden, comprehensive childcare programs offer a valuable resource, providing a structured and supportive environment for children while enabling parents to maintain their work schedules with less disruption. They not only address the logistical challenges faced by parents but also play a crucial role in the developmental needs of children.
With a research-based curriculum, these programs are designed to enrich children’s natural curiosity, fostering confidence, creativity, and critical thinking skills that will benefit them throughout their lives. By offering a blend of educational and recreational activities, these programs ensure that children are engaged and learning, giving parents peace of mind that their children are in a nurturing and stimulating environment while they manage their professional responsibilities.
Parents have pointed to the availability of flexible working arrangements as the number one factor in reducing the stress of the summer holidays, allowing them to cut down on the commute and work closer to home. In fact, 38% of parents identify this as the primary solution, with the percentage rising to 49% among parents of children under 5 years old.
More than half (56%) believe that such a workspace would help alleviate the stress of the summer holidays, especially amongst younger parents (25–34 year olds), where the figure rises to 67%. Benefits identified include reduced commuting distance (46%), cost savings on travel and transport (35%), and the ability to utilize the workspace during periods of childcare (34%), such as when their partners are at home. An overwhelming majority of parents (78%) express their preference to use a flexible workspace closer to their homes if given the opportunity.
These findings highlight potential solutions for employers and how they can alleviate the pressures and challenges parents face, particularly during summer holidays.
IWG Chief Commercial Officer Fatima Koning:
“This research shows that the flexibility afforded by the hybrid model can be a game-changer for families during the summer holidays, especially those with young children
Hybrid working has made a vital difference in my life: I am empowered to co-parent my daughter, take good care of myself and progress in my career – priorities that would be far more difficult to manage successfully if I were travelling back and forth to a central office every day.
Offering hybrid working options is such an important and straightforward way for businesses to show commitment to employees by freeing up their time and giving them greater control over their schedules to manage their family responsibilities. Organisations that have adopted hybrid working are not only seeing healthier and happier workforces, but more engaged and productive teams.”
As demand for hybrid working accelerates, IWG has seen many businesses adopt a hub and spoke office model, with employees splitting their time between home, a local office and city centre HQ.
These changing work patterns have resulted in a 36% increase in demand for IWG workspaces located outside of city centres in 2022. IWG is expanding to meet this demand by adding 1,000 new locations globally in the next year, predominantly in rural and suburban areas, to provide accessible workspaces for parents seeking flexibility.
Through their brands including Regus, Spaces, HQ and Signature, IWG help millions of people and their businesses to work more productively. They do so by providing the world’s leading hybrid work platform with professional, inspiring and collaborative workspaces and digital services all available via the IWG app. For more information visit www.iwgplc.com and for more information on partnering with IWG, see: https://www.iwgplc.com/develop-a-location