The Society for Human Resourcereports that 59% of employees miss work at some point during the year because child- or elder-care arrangements fall through. Home improvement retailer Home Depot has decided to tackle the problem for its employees by providing a backup dependent-care benefit.
Employees may use the benefit up to 10 times per year. Employees pay a deductible of between $25 and $35; Home Depot picks up the rest of the cost.
Home Depot recently added a 278-child day-care facility at its Atlanta headquarters and touts the facility and the backup dependent-care benefits as recruiting tools.
Note: With high unemployment, few companies have felt the need to compete for employees. But Home Depot apparently feels its new benefit will pay dividends in worker productivity and lower turnover costs.