FOR COMMUNITIES
Wage Realization
Unlocking Workforce Potential for Economic Growth
Child care is more than a basic need for families. It’s an economic multiplier and an accelerator for economic growth. Accessible child care empowers workers to realize their true wage potential, providing employers with the workforce they need for growth. This leads to stronger economies and stronger communities.
What it Means to Communities & Why it Matters:
Workforce Empowerment
Having accessible child care options supports parents, especially women, by enabling them to pursue job opportunities and education. This directly enhances workforce availability and inclusivity, benefiting the entire community.
Economic Growth
With readily available child care, parents who want to work can achieve their true earning potential, the idea of wage realization. Accessible child care increases labor force participation, boosting productivity and economic output.
Community Well-Being
With workforce and growth in place, good child care programs also support child development, promote opportunity equity and foster a more balanced work-life environment for residents. This contributes to more vibrant outcomes for communities.
How We Help
Child care is vital to any community’s economic health. At Business of Child Care, we help communities identify how the lack of accessible child care limits wage potential and economic growth.
Meeting communities at their stage of readiness, we provide guidance to develop steps that address these challenges. Our approach strengthens families and communities by creating better child care and early education opportunities, fostering a more prosperous local economy.
Three Pillars Supporting Wage Realization
Communities looking to strengthen their economy by realizing the true wage potential of their workforce must ensure workers are supported by readily available, quality child care. Business of Child Care bases its approach on three pillars that support community wage realization:
1. Strengthen and Sustain Existing Child Care Providers
To maintain a stable and high-quality child care infrastructure.
- Recognition – Awards, public acknowledgements and professional development. Providers who feel valued are more likely to remain in the profession, ensuring continuity.
- Financial Support & Resources – Community grants, access to training and development, necessary materials and facilities to offer high-quality care to help providers succeed in business and provide better services for families and children.
- Create a Culture of Support – Create networks and communities of practice where providers can share experiences, resources and support, reducing burnout and turnover.
2. Create Favorable Conditions to Address Unmet Needs
To ensure all families have access to quality child care, which supports workforce participation.
- Start-up Grants & Low-Cost Financing – Grants, tax breaks, subsidies that incentivize providers to establish new child care programs, expanding access for families.
- Incentives Aligned to Unmet Community Needs – Align funding for start-up costs to incentivize the creation of child care businesses that address child care gaps: care that falls outside of traditional work hours, child care for special needs children, etc.
- Community Partnerships – Build a network of partnerships with local businesses, education and government stakeholders to offer financial support, shared resources and collaboration making it easier for existing and new providers to thrive.
3. Develop Spaces that Support Optimal Outcomes
- Purpose-Driven Spaces – Designed with specific needs in mind: flexible hours, supporting children with special needs, enhancing early childhood education.
- Community Engagement – Involve the community to identify gaps in existing child care to ensure new spaces are used effectively and add value to the community.
- Sustainable Models – Creating financial plans that incorporate diverse funding sources, including public and private investment and community contributions to ensure new child care spaces remain operational and beneficial in the long-term.
