Almost four-fifths (79%) of working parents have, or would be, impacted financially in some way if they took time off work to care for their ill child, according to research by MetLife UK.
Its survey of 3,003 working parents, with a child or children aged 22 and under also found that 25% of respondents were concerned about the financial impact of time off work to care for their ill child, while 18% had no choice but to juggle work and childcare to avoid not being paid.
Half (50%) have had to take time off work due to their child having an accident, 18% have, or would have to, attempt to work while caring for their child, and 25% have had to use their savings to get by if they had to take unpaid parental leave.
Nearly half (48%) said that they lack savings in case they need to take unpaid time off work if their child had an accident or felt unwell. One in 10 (11%) have, or would have to borrow to pay bills, 16% have, or would have to, cut back on food shopping, and 5% have or would have to miss rent and mortgage payments.
Rich Horner, head of individual protection at MetLife UK, said: “Facing the dual pressures of parenting and professional responsibilities is a reality for many in today’s workforce, not to mention the rising costs of living which are especially heavy on those with families. But when employees have a poorly child that requires them to take time off work or out of their own business, things become more challenging. The financial impact can be significant, especially for those without savings or any financial protection to fall back on, should they have to take unpaid leave.”
