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Intel recently announced further investments in childcare benefits for its workers, part of an effort to attract and retain a more diverse workforce, as well as support career development for working parents.
When making changes to its childcare program, Intel consulted with the office overseeing the CHIPS and Science Act after the federal government asked companies applying for funding to detail how they will guarantee affordable, high-quality childcare to workers.
How Intel is building on its childcare offerings. Intel partners with a preferred childcare provider to offer eligible employees priority enrollment in their centers, as well as a tuition discount. It also offers emergency backup care, as well as a dependent care assistance program, a type of flexible spending account that goes toward the cost of care for a qualifying dependent.
After seeking feedback on its childcare benefits from employees, suppliers, and community leaders, Intel decided to add an additional childcare provider to its network this fall, said Amber Wiseley, VP of total rewards and global benefits. The addition of this provider, which hasn’t been named yet, should effectively “double the amount of centers that are nearby our facilities,” she added. They’re planning to develop a navigation tool for employees seeking alternative solutions, like nannies or babysitters.
The company also plans to increase the amount of emergency backup care days it offers, as well as the reimbursement amount for this care. It will pilot a backup childcare center near its site in Hillsboro, Oregon, which will operate 24/7, part of an effort to ensure workers on shift schedules have access to this type of care.
CHIPS for childcare. Companies applying for more than $150 million worth of funding from the CHIPS and Science Act were asked to detail their plans for providing childcare to workers. This requirement was meant to incentivize companies to address one of the barriers that can keep women out of the workforce, and give businesses a better shot at hiring enough talent to fill roles needed to strengthen the US semiconductor industry. The median share of women represented in the semiconductor workforce was between 20% and 25% in 2022, according to a survey from Accenture and the Global Semiconductor Alliance.
Given Intel was awarded a $8.5 billion grant from the Department of Commerce to invest in semiconductors, it has consulted with the CHIPS office on its childcare benefits, according to Wiseley. The government has said employer-sponsored childcare should be affordable, accessible, reliable, and high-quality—four fundamental principles that Intel is “completely aligned” on, she said.
Wiseley recognized that some parents are dealing with the challenges of living in childcare deserts, and said the hope was that these expanded benefits might help the company get ahead of some of these accessibility concerns. Going forward, she said Intel sees stronger childcare investment as a means “to attract and retain a diverse workforce, one that's focused on hiring more minorities, more women getting into the workforce.”