Hard-Hit Child Care Industry May Need Multisector Response to Revive and Thrive

The innovative efforts of The Best Place for Working Parents® and The Best Place for Kids!® is featured as an “Inventive Idea” in the Federal Reserve Bank of Dallas’ February 11, 2021 Economic Development & Human Capital article titled, “Hard-Hit Child Care Industry May Need Multi-Sector Response to Revive and Thrive”.

The article goes on to say: “Employers can benefit from child care as well as the workers themselves. As we’ve seen during the pandemic, employee retention is more difficult without readily available child care. One example of how to engage the business community on this topic comes from Fort Worth.

Best Place for Working Parents®

In 2020, the Fort Worth public-private partnership Best Place for Kids! created a “Best Place for Working Parents” business designation based on categories like core benefits and family resources. Citing the high cost of turnover and millennials’ interest in family-friendly employers, Best Place for Kids! makes a business case for family-friendly policies. Their top 10 policies include onsite child care, child care assistance and backup child care.

Interested employers take an online assessment to determine whether they are eligible for the Best Place for Working Parents designation. Those that are eligible receive digital badging to demonstrate their family-friendliness in marketing materials. Designated businesses can also see how they compare to similar employers.

The Best Place for Working Parents model is already being replicated in Dallas, Austin, and San Antonio.”

Read more on dallasfed.org

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