Reten Makes it Easy to Respond to an Evolving Labor Market
Employers are facing a once-in-a-generation war for talent, and businesses must respond: Compensation and a standard benefits package aren’t sufficient for a workforce that has endured a total breakdown of the already-meager child care systems that existed before the COVID-19 pandemic. The good news: The businesses that address the child care need will attract top talent among this substantial subset of the workforce, generate loyalty among those employees, and avoid the risks and costs of lost productivity, job churn, and ongoing recruitment to replace employees who’ve chosen to work for companies who provide a child care benefit.
Child care is a highly strategic lever for HR and recruiting teams
More than half of U.S. workers have considered switching jobs due to child care.
83 percent of women and 81 percent of men with children aged 0-5 identify child care benefits as a very important or somewhat important factor in deciding whether to stay at their current employer or switch employers.
In response, strategic companies are offering benefits, including a child care benefit, tailored to employees’ life stages.
Let’s Collaborate
The Reten team is ready to support your HR team and your working parents—for the ultimate good of your company. See these eight primary pieces of the Reten Benefit.
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Reten’s unique onboarding process, the Child Care Checkup guides parents and prospective parents through a questionnaire to determine what resources and supports are the most relevant to them.
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Reten’s Concierge Team is a team of specialists dedicated to certain geographic areas.
Once they have completed the Child Care Checkup, employees will be assigned to a Specialist who will work with them 1 on 1 to research available care that is close to work or home.
Specialists will provide support and detailed documentation to help employees complete any remaining paperwork or tasks to get their child enrolled. They can also help point employees to our bank of Resources that will help them be prepared for what's next at every age.
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The Concierge Team will assist employees with the public funding prequalification process and provide an estimate of what the employee is eligible for. When the employee is ready, their Specialist will provide guidance for completing the paperwork to begin receiving funding.
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When the employer implements monthly contributions for care, Reten will verify expenses and pay providers directly, qualifying you for significant tax benefits through 45F.
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Reten provides all the annual documentation you need to understand and maximize all relevant tax benefits, like child care credits, that are relevant to you and your employees. If anything ever changes, we keep you and your team in the loop.
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We partner with national leaders in find-a-school tools to enable the Concierge Team to provide excellent service.
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From upcoming enrollment dates, to reapplication deadlines for public funds, to thinking about school holidays—we’re here to help parents manage it all. We’ll remember all the important stuff, and make sure to remind them when the time is right.
The employer determines a monthly contribution, and eligible employees enroll in the benefit.
Reten’s distinctive concierge service helps the employee find high-quality licensed care based on their needs, schedule, and location.
Reten helps the employee prequalify for any government subsidies and helps them apply.
Reten handles all the paperwork and tax documentation the employer needs.
Reten supports the family with key reminders about enrollment deadlines and applications for ongoing government subsidies.
Here’s how Reten works
Case Study: Multiply your investment impact
Meet Jane, a single mom with two kids who lives in Denver, CO, and makes $60,000 a year.
Jane's employer contributes $250 per month to her child care stipend.
Reten helps Jane find care for her kids and pre-qualifies her for public support programs that multiply her employer's contribution.
Jane's monthly child care burden is greatly reduced.
Create a better work environment for your whole organization with Reten
Boost your company’s productivity and retention rates, reduce absenteeism, lower recruitment costs, and enjoy a stronger, healthier company culture with Reten.
