Stephen Kramer on employee retention
From What working parents want from employers: Bright Horizons CEO · · Yahoo Finance
“Our Bright Horizons study is showing working parents are becoming more vocal but also saying, 'I'm willing to step away from this role if I don't feel like my work‑life balance is being met.'”
On , Stephen Kramer, Chief Executive Officer, President & Director at BRIGHT HORIZONS FAMILY SOLTN, spoke about employee retention during What working parents want from employers: Bright Horizons CEO on Yahoo Finance.
About Stephen Kramer
Stephen Kramer, CEO of Bright Horizons, has stated that a lack of affordable, high-quality childcare is holding back the U.S. economy by preventing working parents from fully participating in the workforce. He has argued that the primary driver of childcare costs is the expense of attracting, retaining, and training high-quality teachers, which he described as the largest component of any childcare organization's cost structure. Kramer has advocated for a multi-pronged approach to address the issue, including direct government subsidies, tax incentives for families and employers, and increased investment from employers. He noted that Bright Horizons partners with 1,400 employer clients to provide on-site subsidized childcare and backup care, describing this employer support as a "critical support" for working families. Kramer has said that working parents are becoming more vocal about prioritizing work-life balance and are willing to leave roles if their needs are not met. He identified the top requests from employees as access to affordable childcare, financial subsidies, and backup care for when regular arrangements break down. Kramer has also commented on the expiration of pandemic-era childcare stabilization grants, stating that while Bright Horizons managed its business in anticipation of the funding ending, many community-based providers may face significant challenges, potentially needing to raise tuition by 10-15%. He has described childcare as an "essential service" that allows parents to work and is foundational for the future workforce.