Monday, September 5, 2016
Patagonia's CEO Explains How To Make On-Site Child Care Pay For Itself
Fast Company (August 15, 2016): Patagonia's CEO Explains How To Make On-Site Child Care Pay For Itself, by Rose Marcario:
Patagonia CEO Rose Marcario explains that many businesspeople ask how companies can afford the plethora of family centered benefits similar to those offered to Patagonia employees: "company-paid health care and sick time for all employees; paid maternity and paternity leave; access to on-site child care for employees at our headquarters in Ventura, California, and at our Reno, Nevada, distribution center; and financial support to those who need it, among other benefits." Marcario writes that while paid leave should be favored because it is the ethically responsible thing to do, it is also an effective business model, with an-in depth look at the tax benefits, employee retention, and employee engagement fostered by Patagonia's policies. This is something Patagonia has done since its inception, and current leadership maintains a staunch commitment to these values:
For 33 years, Patagonia has provided on-site child care—a mandate from our founders, who believed it was a moral imperative. Even in times of economic struggle the program was never cut, because they believed in providing a supportive work environment for working families. Taking care of our tribe is part of our culture and our commitment to helping our own people live the way they want. It’s true, there are financial costs to offering onsite child care, and they can be expensive if you offer high-quality programs or subsidize your employees’ tuition when onsite care is not available.
But the benefits—financial and otherwise—pay for themselves every year. As a CEO, it’s not even a question in my mind. Business leaders (and their chief financial officers) should take note.