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    Child Care

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    Srutishree Biswal
    The document assesses the financial pros and cons of offering childcare or eldercare benefits to employees. While childcare benefits could help attract and retain employees, they also carry costs like infrastructure expenses and potential litigation if a child is injured. Eldercare benefits could affect more employees but are less predictable and require flexibility. The document recommends the company establish clear policies to avoid discrimination and be prepared to bear litigation expenses to alleviate issues and maintain a positive work environment.

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    Child Care

    Uploaded by

    Srutishree Biswal
    105 views4 pages
    The document assesses the financial pros and cons of offering childcare or eldercare benefits to employees. While childcare benefits could help attract and retain employees, they also carry costs like infrastructure expenses and potential litigation if a child is injured. Eldercare benefits could affect more employees but are less predictable and require flexibility. The document recommends the company establish clear policies to avoid discrimination and be prepared to bear litigation expenses to alleviate issues and maintain a positive work environment.

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    Child care

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    The document assesses the financial pros and cons of offering childcare or eldercare benefits to employees. While childcare benefits could help attract and retain employees, they also carry costs like infrastructure expenses and potential litigation if a child is injured. Eldercare benefits could affect more employees but are less predictable and require flexibility. The document recommends the company establish clear policies to avoid discrimination and be prepared to bear litigation expenses to alleviate issues and maintain a positive work environment.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    105 views4 pages

    Child Care

    Uploaded by

    Srutishree Biswal
    The document assesses the financial pros and cons of offering childcare or eldercare benefits to employees. While childcare benefits could help attract and retain employees, they also carry costs like infrastructure expenses and potential litigation if a child is injured. Eldercare benefits could affect more employees but are less predictable and require flexibility. The document recommends the company establish clear policies to avoid discrimination and be prepared to bear litigation expenses to alleviate issues and maintain a positive work environment.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    Your business is considering offering child-care and/or elder-care

    benefits to its employees. Assess the financial pros and cons of


    either type of benefit, and offer recommendations.

    The growing instances pertaining to work culture is visualised to be


    disenchanting among the employees. My report aims to magnify the
    core studies associated with employees’ discontent and the impact on
    the organisation. Moreover, my research revolves around the
    employees’ insights on adoption of child care or elder care benefits
    and some suggestive measures. Our esteemed company has taken a
    leap to expunge the tribulations faced by our workers. However, the
    steps taken by our organisation is tremendous and effectual.
    Employees are the asset of the organisation. Imagining success
    without employees’ efforts and drudgery is futile. In the present
    modern world, in order to make both ends meet, parents are the
    breadwinner. There are many social benefits offered by our
    organisation for combating their personal issues to maintain a work
    life balance. The new provision launched encompasses both direct
    and indirect welfare. Can our company envision the growth and
    development in next 5 years without retaining the potential employee
    delivering quality work?

    Elder care has begun to rival child care as a workplace issue, but there are
    important differences between the two. While some employees have
    children, others don’t. But most employees have living parents, and so
    elder care has the potential to affect more employees than child care does.
    Unlike child care, elder care is an unpredictable, variable event that can
    occur suddenly during a loved one’s health crisis, or creep up slowly as a
    relative’s health and functioning decline. It requires flexibility and
    responsiveness from both the employer and employee caregivers as well
    as supervisors and co-workers. But there still persists ambiguity among
    the employees related to financial pros and cons.

    Being a financial analyst, I estimated certain factors that has both positive
    and negative outcomes both for employee and the company. According
    to employees’ outlook, it is one such incentive that probably won’t bear
    much expense to them. It turns out to be a motivating factor considering
    themselves to be a part of this organisation and perform better in the
    company. The second thing, relieves tension and stress directing them to
    better performance. Convenience is such a factor which has the ability to
    make the parents continue their work and at the same time take active
    part for the growth of the children as well their aged parents. There has
    always been an emotional connection between the parents and their
    children. So, these amenities will confer stable emotional security
    ensuring that their loved ones are safe and secure. Avoiding the high
    cost of employee turnover and lost productivity due to lack of
    engagement are motivators for some companies to offer unique perks,
    specifically child and elder care benefits. Child and elder care benefits
    are two types of extended workplace benefits, or employee services,
    offered to full- or part-time employees based solely on the fact that
    they are employed with a firm. Child care benefits, when offered as
    part of a benefits program, typically take one of four forms: funding
    for child care, on-site child care, off-site child care, and child care
    support services. So, from the aforesaid instances, it is easier to attract
    and retain the prospective employees. According to the company’s
    horizon, the benefit provided can be termed as business expense or
    deductible expense to be reflected in the budget. In the initial stages it
    may make losses but over a period of time with the contribution of
    both employee and employer the break-even can be achieved. The
    employees initially do not have to bear any cost for the child care. But
    with mutual understanding, the payment amount can be settled.
    I have assessed the disadvantages of child care and elder care. When a
    childcare facility is offered at the workplace – it is offered by the
    assumption that it is for one child. But the employees can have one,
    two, three children – now if a person having three children gets more
    benefits as compared to the person having one child – then it seems to
    be discrimination among the employees. This also affects in the work
    – there is a friction which is created in the team. This could bring
    down the performance of the employee . Don’t we think we can bear
    financial burden? It will encumber the profit generated and financially
    deplete the existence of the company. Introduction of litigation
    expenses can be dissatisfying for the organisation. It might arise a
    situation when a child is injured or wounded, it needs summarized
    treatment and medical care. The company is potentially liable for all
    such expenses. This type of litigation expenses could prove to be a
    large burden in the long run. Investment in infrastructure includes
    buildings to maintain healthy scenario, clean washroom for personal
    hygiene and safety equipment in times of exigency. This can
    supersede the expense over income.

    In the nutshell, considering the challenging factors mentioned above,


    we can draw the inference that child care or elder care is an
    indispensable programme to maintain a pleasant decorum in the work
    atmosphere. There can be discrimination against the employees which
    creates friction. The management will have to make proper policies so
    that no employee is mentally tortured. To alleviate the litigation
    formalities, the company should be ready to bear such expenses and
    proper budget has to be allotted for the same – so that there are no
    problems in the future. Improved organizational outcomes are the
    ultimate goal of most optional benefits programs and changing
    demographics necessitate that companies modify their tactics in order
    to attract and retain employees who will most benefit their companies.

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