Childcare vouchers prove their worth
Childcare vouchers increasingly represent a key element of the remuneration package offered to employees, according to new research.
The survey, carried out by Sodexho Pass and the Daycare Trust, finds that 35% of employers have already implemented a childcare voucher scheme. Of the remainder, 98% plan to implement one after April 2005.
The most frequently cited reasons for offering childcare vouchers are to improve recruitment and retention and to raise the organisation's profile as an employer of choice.
From April 2005, employees will be eligible to receive up to £50 a week of their childcare costs free of tax and National Insurance when their employer either agrees a contract with an approved carer or provides them with childcare vouchers.
Also
Retaining top talent can be child's play Personnel Today's Dawn Spalding investigates how childcare vouchers helped PricewaterhouseCoopers dramatically improve staff retention.
Where do the politicians stand on childcare? Childcare and work-life balance issues look set to dominate the expected 2005 general election campaign.
HR must change its attitude Margaret Hodge explains to Personnel Today's Nic Paton why childcare must be seen as a core business responsibility.
Childcare tax breaks for working parents Nic Paton reports.
Employers must keep abreast of alterations to childcare funding Writing in Personnel Today, Quentin Reade reports.
How to set up a workplace nursery and How to set up an out-of-school-hours scheme Practical guidance on related issues from XpertHR's How to service.
Budget 2004: tax and National Insurance changes HR & Compliance Centre's extensive resources on the 2004 Budget include links to data sources on Child tax credits.
