Cost and scarcity of childcare provision impacting staff, says Cork Chamber

ALMOST one in four of members surveyed by Cork Chamber said that the availability and affordability of childcare provision are impacting staff.

Cork Chamber yesterday published its latest Economic Trends, having surveyed members on their experiences through the most recent business quarter — Quarter 1 of 2024 — and on their outlook for quarter two.

Members were asked for their views on the provision of childcare services in Cork and the impact childcare has on their employees.

Some 23% said the availability and affordability of childcare provision is impacting staff, though an equal percentage acknowledged they are unaware if it is an issue.

When asked about the workplace factors that childcare provision is impacting on, the top cited factors were an increase in remote working requests and an increase in requests to move to part-time work.

Notably, 63% of respondents believe that childcare disproportionately affects women in the workforce, and 72% said that policymakers need to take further measures to address the challenges associated with childcare provision.

The Chamber said the survey findings underscore the importance of the Government and other policymakers continuing to explore the requirements of childcare provision, saying that a more enhanced, accessible, and affordable childcare sector is important to supporting economic growth. Overall, 77% of those surveyed expressed confidence in the economy, while skills availability remains the top threat to business growth.

Cork Chamber president Ronan Murray said that the business community has shown great resilience over the past number of years, “responding to unforeseen events and adapting to changing work patterns”.

He said the findings from the survey further validate the need for continued flexibility in a modern and future-proofed workplace, with more reporting an increase in requests for remote working and a move to part-time work due to childcare provision.

“Ensuring employees have a choice in their work patterns will be essential to bridging some of the skills shortages businesses are experiencing today,” he said.

He highlighted that confidence in the economy remains high at 77% and described as positive that 93% of respondents exhibited confidence in their own business from a financial perspective.

The survey is supported by PTSB, and the bank’s business banking manager Auriol Kelly said: “The Quarter 1 survey reveals a decline from 38% to 27% of respondents reporting an increase in net profits.

“However, it is encouraging to see that 42% of businesses anticipate a growth in net profits for Quarter 2.

“These findings suggest a cautious optimism among businesses, and highlight the need for proactive financial strategies to navigate the evolving economic landscape, and PTSB is ready to support the business community in achieving their strategic goals.”