This was a title of a recent CNBC article. But, while the title itself might scream “clickbait,” the unfortunate reality is affordable childcare for many working Americans is more of a fantasy than an reality. In Colorado alone, more than 2.4 million people live in “child care deserts”—which means 43% of the population does not have any access to childcare at all. And, those that do have access are spending more than 20% of their pre-tax income on childcare. According to the U.S. Department of Health and Human Services, affordable childcare is considered spending 10% or less of the family budget.
The huge shortage of accessible and affordable childcare is no longer just a family problem…it’s a business problem. Forty-five percent of working parents report being absent from work due to childcare breakdowns. And, employee absenteeism is costing business across the country $4.4 billion.
WorkLife is working on a solution. We provide training, resources, and tools to Colorado in-home care providers so they can increase quality and capacity, while leveraging technology to help employees connect with affordable and flexible options near where they live and work. WorkLife also serves as a Colorado Childcare Contribution Tax Credit Intermediary, using donations from businesses to build up more affordable childcare options in childcare deserts and underserved neighborhoods. This year alone, WorkLife has partnered with 29 childcare providers to increase available childcare spots by nearly 40%.
If you’d like to make an investment in childcare so your workforce can focus on getting to work and staying productive at work, please contact us.