New Data from the 2016 Modern Family Index shows turnover is a real risk for a large portion of today’s workforce. Learn more about this critical issue affecting employee retention. Don’t be left in the dark.
About the Bright Horizons Modern Family Index:
The Bright Horizons Modern Family Index is an Internet-based survey conducted by Kelton Global from August 24th to September 2nd, 2016. The first sample included 530 employed women ages 18 and over who are currently pregnant with their first child or planning to have their first child in the next two years, with a margin of error of +/- 4.3%. The second sample included 515 women ages 18 and over who have had their first child in the past two years and returned to work and 150 employed men ages 18 and over who have had their first child in the past two years, with a margin of error of +/- 4.3% for new mothers and 8.0% for new fathers
1. WAKE-UP CALL FOR EMPLOYERS
New Data from the 2016 Bright Horizons®
Modern Family Index Shows
Turnover a Real Risk for a Large Segment of the Workforce
2. Working parents make up a substantial segment of the workforce. And employers might be surprised to learn
that many of those employees are thinking about leaving their companies once they have their first child.
WORKING PARENTS: PREPARING FOR A CHANGE
of working fathers said
fatherhood will likely prompt
a job change
of new moms said a new
baby will likely prompt
a job change
69%56%
3. WHY PARENTS ARE LEAVING
THEIR EMPLOYERS
And their fears are not unfounded. After they announced they were expecting a child:
of new parents said they had fewer
new opportunities after parental leave
said their employer gives parents
fewer opportunities for growth
of new parents said they
had limited opportunities
for advancement
had responsibilities taken
from them
21% 48%
22% 22%
4. The departure of employees — both men and women — is a big loss.
A LOSS OF CRITICAL TALENT
Working parents will become
increasingly critical as
Boomers retire
The number of women having
their first child in their 30s is up
substantially, according to the CDC1
By having children later, working
parents are leaving companies when
they’re in important roles, which are
expensive (estimates have been cited
at 150% or more of salary2
) to replace
1 T.J. Mathews, M.S.; and Brady E. Hamilton, Ph.D, Mean Age of Mothers is on the Rise: United States, 2000–2014, Center for Disease Control, January 2016
2 Suzanne Lucas, “How Much Employee Turnover Really Costs You,” Inc. Magazine, August 2013
5. 1 in 3
new dads felt parenthood
limited their opportunities
for advancement
27%
felt the announcement
of a new baby put them
at risk of being fired
31%
considered quitting
because of judgments
from colleagues
NOT JUST WORKING MOMS
6. HOW TO RETAIN WORKING PARENTS
Working parents who responded to the Modern Family Index were very vocal about what
would keep them:commitment from employers that matches their own.
of future moms desire an employer who will not allow pregnancy
to impact professional careers
want assurance that they can maintain their current professional
level without losing responsibilities
68%
67%
7. Turnover is expensive. The time it takes to fill a job is increasing steadily, up to 52 days3
in 2015. And in addition
to replacement costs, empty jobs cost time and productivity.
PROTECTING YOUR BOTTOM LINE
3 “Talent Acquisition Factbook 2015: Benchmarks and Trends in Spending, Staffing, and Key Recruiting Metrics,” Bersin, April 2015
So what can you do?
Learn more at brighthorizons.com/mfi-ebook