{"id":3912,"date":"2023-07-25T22:00:55","date_gmt":"2023-07-25T22:00:55","guid":{"rendered":"https:\/\/www.care.com\/about\/?p=3912"},"modified":"2024-06-06T20:34:08","modified_gmt":"2024-06-06T20:34:08","slug":"a-vision-for-change-transforming-the-care-landscape","status":"publish","type":"post","link":"https:\/\/www.care.com\/about\/a-vision-for-change-transforming-the-care-landscape\/","title":{"rendered":"A vision for change: Transforming the care landscape"},"content":{"rendered":"

Starting With Care<\/strong><\/h2>

Just one month ago, I started an exhilarating journey as Care.com’s CEO. As the father of three and a son to aging parents, Care’s mission felt deeply personal to me; I know what care has meant and continues to mean to my family. But the last few weeks have reinforced for me just how profoundly care impacts every family at every stage of life and our mission now feels far more than personal. It’s universal. <\/p>

Each time I mention my new role to friends and family, I hear a variation of the same refrain: every household needs some form of care and it’s most definitely not one-size-fits-all. But one thing is undeniable: We have to do better for our children, our seniors, for all families. Failure is simply not an option and success will not only enable individual families to thrive but will also fuel our nation’s economic growth.<\/p>

The Challenges<\/strong><\/h2>

Depending upon your perspective – parent, adult child, business leader, policymaker, one or more of this list – you likely know a lot about a little bit of the care challenges the US currently faces. It’s a complex and multi-faceted framework: <\/p>

The Rising Cost of Childcare (Affordability)<\/strong><\/h3>

A majority of families devote 27% of their household income to childcare, nearly 4X what’s deemed affordable by the Department of Health and Human Services (7%) according to Care.com’s 2023 Cost of Care Report<\/a>. This cost frequently matches or exceeds housing costs or college tuition, prohibits savings, and limits consumer spending.<\/p>

Access to Quality Care (Quality and Availability)<\/strong><\/h3>

<\/strong>The pandemic dealt a devastating blow to an already crumbling childcare system. Childcare deserts now proliferate, significantly reducing the options available to parents. And where care is<\/em> accessible, it’s not available<\/em> so families face long waitlists and additional costs. Furthermore, 9-5 is no longer the standard workday. Child Care Aware<\/a> estimates that there are “roughly 31 million children who may need childcare during non-standard hours, yet just 34 percent of listed family childcare, and 8 percent of center-based care, offer it”. Without care options, parents – frequently mothers – are forced to leave the workforce. When you consider that the bulk of our nation’s GDP growth over the last 50+ years has been derived from female workforce participation, you see what a lack of care costs us all.<\/p>

The Caregiver Workforce (Consistency)<\/strong><\/h3>

On average, childcare workers hourly rates<\/a> (in-home and in-center) are less than their Pre-K and kindergarten counterparts, $13.43 per hour vs. $16.83 and $41.86 per hour, respectively. Lower pay and lack of benefits are key drivers of caregiver turnover, threatening the workforce pipeline the country desperately needs to support both our children and our seniors. The devaluing of in-home caregivers is also reflected in terminology: Center-based workers are classified as “formal” care while in-home caregivers are considered “informal” care.<\/p>

Limited Employer Support<\/strong><\/h3>

It’s a simple truth that without care parents can’t work, impacting enterprise productivity and growth. Care is proven to drive the bottom line yet not enough employers prioritize investing in care support for their employees. <\/p>

Limited Government Support<\/strong><\/h3>

<\/strong>The US is one of only two developed nations in the world without federally mandated parental leave and, compared to other countries in the O.E.C.D.<\/a>, we don’t invest nearly enough in early childhood care. During the pandemic, parents got a glimpse of what it would be like to have the government invest in care by expanding the existing tax credits but that was temporary and the credits are now back to their pre-pandemic levels, leaving parents with little assistance.<\/p>

The Opportunities<\/strong><\/h2>

America is facing a care crisis but there are real reasons to be optimistic about where we go from here. Some of our nation’s biggest and most complex crises have spawned action and innovation, and I believe the same will be true of reimagining our care infrastructure. Best-in-class employers are leading the way, charting a path that will make care benefits table stakes. Our annual Future of Benefits Report<\/a> reveals that employers are realizing that investing in care not only meets the needs of their employees, it’s good business. <\/p>