Since the year 2014, Bright Horizons has been delving into the experiences and feelings of working parents as they strive to balance their work commitments with family responsibilities, as revealed in the Modern Family Index (MFI) research report. Recent findings from the Surgeon General Advisory, titled 'Parents Under Pressure,' echo the conclusions drawn from the latest MFI report published in May of this year.
The Struggle is Real
The 10th annual edition of the Modern Family Index, an independent survey commissioned by Bright Horizons (NYSE: BFAM) and executed by The Harris Poll, surveyed 2,000 working parents to gauge their current state of mind. The results were telling
- 34% believe they are working excessive hours
- 63% express concerns about not being able to dedicate enough time to their families
- 58% admit to not giving their 100% at work
- 43% feel stressed due to inadequate compensation for their efforts
Lack of Support
Surprisingly, while nearly half of the MFI survey participants (46%) prioritize assistance with childcare as the most desirable benefit, even over perks like remote work flexibility (40%) and adjustable work hours (45%), less than one-third (29%) actually receive such aid. The situation is dire for a significant portion of parents (35%) who struggle with limited to no external support for their dual roles as employees and caretakers.
A Cry for Help
The Surgeon General's recent advisory sheds light on the multiple stressors faced by parents today, especially concerning the care of their young children while they are at work. The Modern Family Index underscores that working parents are dedicated to their families, with 70% considering benefits that promote work-life balance as 'non-negotiable.'
The Call to Action
Stephen Kramer, the CEO of Bright Horizons, emphasized, 'Parental stress is a longstanding issue, but the challenges confronting today's parents are escalating, particularly in terms of childcare.' He urged employers to take heed of the Modern Family Index findings and the Surgeon General's advisory as a wake-up call to incorporate these benefits into their talent retention and recruitment strategies promptly and substantially.
Leading the Way
Progressive companies such as Bank of America, Toyota, Walmart, Goldman Sachs, Hormel, and JP Morgan Chase have recognized the value of offering family-friendly benefits to their staff. These inclusive benefits, spanning childcare, eldercare, and even pet care, not only reduce stress but also enhance productivity at work and home. By aligning their benefits with the needs of their workforce, these organizations are fostering compassionate cultures that promote long-term employee retention.
Final Thoughts
The Bright Horizons Modern Family Index is an invaluable resource that sheds light on the challenges faced by working parents today, urging employers to step up and address these pressing issues. Through insightful research and data-driven solutions, Bright Horizons continues to advocate for a more equitable and supportive work environment for all families.
About Bright Horizons Family Solutions Inc.
Bright Horizons is a global leader in providing top-notch early education and childcare services, as well as workforce education and back-up care. With a rich history spanning over 35 years, Bright Horizons collaborates with employers to enhance the well-being of working families and employees, operating over 1,000 centers across multiple countries. Their comprehensive programs cater to employees at every stage of their personal and professional lives, ensuring success both at work and home. For more information, visit www.brighthorizons.com.