Commerzbank AG

Commerzbank, along with the FAIF (the Frankfurt agency for innovation and research) and the Prognos research institute, has published a comprehensive evaluation study on its day care centre Kids & Co. The study confirms that the day care centre, managed by pme Familienservice GmbH, offers key support to families and the children are happy as well. It marks the first-ever evaluation of both pedagogical quality and the economic benefits of a flexible child care programme in Germany. As the study shows, Kids & Co. is also an asset to Commerzbank. Ulrich Sieber, Board member and Chief Human Resources Officer, explains: "Flexible child care options are a source of support and motivation for my colleagues, as I see every day. This would be reason enough for our involvement, but it's also an asset to Commerzbank from a financial standpoint."

Commerzbank offers its staff a wide range of working time models to help them better coordinate family and career life. The day care centre offers nursery and preschool programmes. To offer children the continuity and dependability they need, also children who are in part-time care are assigned to the same group each time. The analysis confirms that child care is beneficial to the development of even babies and young children. The day care centre is staffed by professionals with extensive expertise in caring for children under the age of three.

Extended opening hours, uninterrupted child care, even during holiday breaks, and the option of part-time child care offer additional support to parents. The study has revealed that in providing this service, the bank offers parents greater flexibility while easing the burden on their schedules. In turn, parents and children are happier, and family life is less stressful. Parents appreciate the contribution that Kids & Co. makes toward equal gender opportunities at the workplace. Fathers in particular can play a bigger role in organising child care, if only, by bringing them to the day care centre in the mornings and picking them up in the evenings. Part-time employment in management positions, however, still poses a challenge, and Commerzbank will examine this issue more closely in the months ahead.

Commerzbank spent approximately EUR 571,000 for the supervision of 90 children at Kids & Co. in 2007. The programme translates into cost savings because parents return to work sooner after the birth of a child and/or can work more hours per week, for example. As a result, training and recruiting expenses decrease. The costs are offset by annual savings of EUR 702,000, meaning a surplus of EUR 131,000 or an ROI of 23 percent.

The study was based on numerous empirical methods, including the live observation of a child care group, guided family interviews, evaluation of personnel controlling data and cost reports by pme Familienservice GmbH.

To read the evaluation report on the Kids & Co. day care centre (German language only), please refer to this. Photos of our day care centre can be viewed at our pictures gallery.