Drew Wilson
Helping cover the cost of child care is one of the best ways businesses can boost motivation, improve office camaraderie and retain their best workers.
Florida Chamber Foundation SVP of Equality of Opportunity Kyle Baltuch opened a panel discussion at the 2023 Future of Florida Forum by noting that the state economy takes a $5.4 billion annual hit from the “child care crisis.”
“That’s more money than Florida spends on its criminal justice system,” Baltuch said.
The top-line figure includes a $911 million reduction in state tax revenues. Still, businesses bear the brunt — childcare-related employee turnover and absenteeism costs Florida employers $3.47 billion per year, according to a report the Florida Chamber Foundation released last month.
Baltuch was joined by Children’s Movement of Florida CEO Madeleine Thakur and Eddie Gonzalez Loumiet, the CEO of Ruvos and co-founder of WellConnector and LaunchTally.
Both spoke about “Bosses for Babies,” an initiative spearheaded by the Children’s Movement of Florida that invites employers of all sizes to support employees with children and promote kindergarten readiness through community involvement, family-friendly policies and practices, or advocacy.
Gonzalez, the first executive to sign up for the program, encouraged other employers to make efforts to learn and understand their employees’ needs — he soon realized that dips in employee performance were often due to something going on at home, such as child care struggles, and not a workplace issue.
“The main thing is listening to the staff, listening to your team members,” he said, adding that he strives to memorize the names of employees’ spouses and children. “Yes, we have 105 employees, but we have 74 children.”
Reducing child care worries can pay dividends, not only for current employees. As of 2023, only half of Florida 5-year-olds are ready to enter Kindergarten, and kids who fall behind early in their educational career are less likely to graduate from high school, attend college, or earn a certificate that qualifies them for a career-track job.
Thakur likewise encouraged business leaders to learn more about the Bosses for Babies program and other family-friendly policies that benefit employees and employers alike. The Florida Chamber’s “Untapped Potential in FL” report further details how the “child care crisis” impacts businesses and the broader state economy.
