"18% of employees leave work to have a child or to care for a child and the cost of finding a replacement employee can cost up to £7,750" CIPD Recruitment, Retention and Turnover Survey 2007
Transfer your scheme
If you suffer from
- High costs
- Low employment take up
- Poor service
- Lack of service
It may be time to change your scheme provider
Contact Cobens for more information email@example.com or 0207 11 88 777
BBC News - Business
Childcare Vouchers are a simple, flexible and cost-effective way to support working parents with their childcare needs. Providing these options for working parents helps reduce absenteeism caused by childcare problems while demonstrating commitment from the employer.
Most of all, from a recruitment and retention point of view, Childcare Vouchers make an employer attractive to skilled working parents.
Savings for employees and employers
For your employees
Childcare vouchers are completely fee of Tax and National Insurance (NI) and your employees can purchase up to a current maximum of £243 per month (£55 per week). As a basic rate taxpayer your employees can save up to £962 per year, and if they are a higher rate tax payer this will increase to £1,195. If both parents receive vouchers they can double your savings.
For your organisation
You will benefit from a net employer National Insurance saving on the amount your employees choose to sacrifice, perfect for reinvesting in other benefits to help finance other initiatives of human resource.
- Employer National Insurance savings
- Employee Tax and National Insurance Savings
- Staff retention
- Increase in return to work after maternity leave
- Reduce absenteeism and greater productivity
- Attracting and retaining employees
- Improve employee relations and work/life balance