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Care benefits, once an afterthought among the landscape of employer benefits, are now taking center stage. According to research conducted with Springbank Collective, employers are increasingly recognizing that caregiving struggles affect employee performance. Large employers are leading the way in offering a wide range of care-related benefits.They are buying and offering care solutions that go beyond traditional child care subsidies - ranging from support for back-up child care, to long-term caregiver support for their employees' aging parents.
Employers are getting creative in the wide variety of ways they’re removing care friction from their employees' daily lives.
The Menu of Care Benefits
From 2019 to 2020, leading child care startup UrbanSitter’s corporate benefit channel saw huge growth -- indicating the wave of employer interest in purchasing care benefits for their employees.
Qualitative interviews indicate that only ~1% of
overall employee benefit spend is on care-related services, leaving plenty of room for growth.