SDAHO Enterprises Strategic Partner TOOTRiS recently presented at the National Child Care Innovation Summit on a session titled: Driving Economic Growth Through Child Care Solutions.
The inaugural National Child Care Innovation Summit held in Washington, DC, marked a pivotal moment in addressing the critical need for accessible and affordable Child Care solutions in the United States. Co-hosted by the U.S. Chamber of Commerce and the U.S. Department of Commerce, the summit brought together stakeholders from across sectors (government, business, advocacy groups, and academia) to explore innovative strategies to integrate Child Care support into workforce development and economic growth initiatives.
Key Themes and Discussions
The summit covered a wide range of topics, from the economic impact of Child Care on workforce participation to innovative solutions leveraging technology and public-private partnerships. Key themes that emerged include:
Economic Benefits: Discussions centered on how investments in Child Care can yield significant economic returns by reducing employee turnover, enhancing productivity, and supporting a diverse and inclusive workforce.
Policy and Advocacy: Participants emphasized the importance of policy reforms and advocacy efforts aimed at expanding access to affordable Child Care, including tax incentives for employers and increased public funding for early childhood education.
Technology and Innovation: Innovations in Child Care delivery, such as digital platforms like TOOTRiS that connect families with local providers and enable Child Care Benefits, were highlighted as transformative solutions capable of addressing the flexibility and accessibility needs of modern working families.
Workforce Development: The summit underscored the role of Child Care in workforce development, particularly in industries facing labor shortages or where recruitment and retention are challenging.
Innovative Solution: TOOTRiS Partnership
Instead of opting for a traditional on-site Child Care facility, which can be costly and logistically challenging, MTM partnered with TOOTRiS. TOOTRiS offered a digital platform that connects employees with a network of licensed local Child Care providers. This approach allowed MTM to provide flexible, employer-sponsored Child Care Benefits tailored to meet the diverse needs of its workforce.
The partnership between MTM and TOOTRiS proved to be transformative, yielding impressive results:
Annual Child Care Benefits: MTM introduced a $3,000 stipend for Child Care, enhancing affordability and choice for employees.
Attrition Rates: Within just one year of implementing the program, MTM saw an overall 11% decrease in attrition rates. This reduction was even more pronounced among women, where attrition dropped by 20%.
Workforce Diversity: The initiative contributed to increasing the representation of women in MTM’s workforce to 33%, surpassing the industry average of 27%.
Utilization and Community Impact: TOOTRiS facilitated a 12% utilization rate among MTM employees for Child Care services, a stark contrast to the 2% typically reported for on-site Child Care facilities.
Full blog post can be read here.
About TOOTRiS
TOOTRiS Child Care Benefits provide exponential human capital ROI allowing SDAHO healthcare organizations of all sizes to eliminate Child Care as a barrier to growth and compete with higher retention, recruiting, productivity, and zero HR admin burden – all at a fraction of the cost of current solutions. TOOTRiS is design-built specifically for employers to provide working parents instant access to the most comprehensive selection of options to meet their specific Child Care needs, work schedules, budgets, and geographic location all in real-time.
The SDAHO Enterprises’ Partner program was established to provide innovative and cost-effective solutions for our member hospitals and long-term care facilities across the healthcare continuum. The business partners selected are expected to meet high-quality standards and offer products or services which are designed to assist healthcare facilities avoid costs, recover revenue, reduce operating and capital expenses, improve management and quality, increase productivity, and develop staff resources.
