Having flexible, care-supportive policies for staff leads to measurable financial gains such as higher retention, increased productivity, and reduced absenteeism, according to a new report.
The research by the 30% Club Ireland, supported by Accenture, highlights the economic and workforce benefits of integrating childcare, eldercare, and self-care into corporate policies.
The 30% Club is a global campaign that aims to achieve a minimum of 30% female representation at the board and executive levels of companies.
The group is calling on business leaders to prioritise "Care Economics" for men and women in the workplace.
The report found that by introducing such policies, businesses can retain experienced talent while reducing hiring and onboarding costs.
"Those that fail to adapt risk losing talent in in the ever-evolving modern workforce," according to the report.
It found that 57% employers reported higher productivity from their employees after introducing hybrid work and flexible care policies.
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Over a third of companies saw direct commercial benefits from supporting caregiving responsibilities.
"Businesses that invest in care-supportive policies are not just doing the right thing socially, they are making a smart commercial decision," said Gillian Harford, Country Executive, 30% Club Ireland.
"The data is clear: organisations that support their employees' care responsibilities experience better retention, stronger engagement, and improved workforce productivity," Ms Harford said.
The research is being released ahead of the 30% Club CEO and Chair Event at Dublin Castle, where Taoiseach Micheál Martin will join 300 corporate leaders.
"This research shows that the well-being of employees is not just a social priority but a core economic driver," Mr Martin said.
"Ireland has an incredible pool of talent and experience, and so it is important that workplaces support caregiving responsibilities at all levels," he added.
The research combined quantitative survey data from over 1,300 employees across various industries and qualitative insights from 150 employers, including SMEs, large indigenous businesses and multinationals.
