Research from MetLife UK reveals that half of working parents (50%) have taken time off due to their child experiencing an accident, a figure that rises to 77 percent for parents dealing with sudden illness.
The findings show that one in six parents (16%) dealing with injured children had to take unpaid leave, with the number increasing to 23 percent for parents of unwell children. This reliance on unpaid leave impacts household incomes, particularly when absences are prolonged.
To counter these challenges, nearly half (48%) of working parents have established savings pots specifically for childcare emergencies. On average, these savings amount to £1,540, with self-employed parents setting aside £1,787 and those on zero-hour contracts saving £1,734. In the past year, 40 percent of working parents reported taking a week off work to care for a child due to an accident or illness. Thirteen percent took 2-3 weeks, while 7 percent required a full month off.
Cost-of-Living Pressures Increase Financial Strain
Rich Horner, Head of Individual Protection at MetLife UK, said, “While some households may be able to bankroll an ’emergency pot’ to lean on in case of a family accident or emergency – that’s not universal. Working parents are already under immense financial strain, so for those with little option but to take unpaid or reduced pay time off work to care for their child when they’re poorly or have had an accident, there can be an immediate and acute financial burden if proper support isn’t in place. And even those who may have the average pot of around £1500, this is unlikely to last very long should the child need extended care.”
Another study by Metlife released in June 2024, 22 percent of parents could only sustain themselves for one week without pay if they had to take time off due to their child’s illness or injury. On average, working parents could manage just over two months without a paycheck.
According to Remote, a staggering 70 percent of working parents in the UK are either quitting or contemplating leaving their jobs due to the prohibitive cost of childcare.
