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In Latin America, the participation of women in the labor force is equivalent to 54 percent.
In Mexico, approximately 41 percent of mothers are part of the labor force.
Only 9 percent of companies make the child care benefit available to mothers.
There are many companies today that offer a series of benefits to their employees, with the aim of making them more comfortable in the company in which they work. Recently Tesla CEO Elon Musk has announced that he plans to “significantly” increase childcare benefits at his companies.
When companies offer child care benefits, families, employers and economies win, according to the report “Care for Children: The commercial advantages when the company offers child care”published by the International Finance Corporation (IFC), a member of the World Bank Group.
That report showed that employers offering child care found a substantial reduction in employee turnover; improved the quality of job applicants and the speed of filling vacancies; increased productivity, since absenteeism was reduced; and increased gender diversity and the advancement of women in leadership positions.
Child care is one of the most frequent problems among employees in Latin America, where women integrate into the labor market faster than in any other region of the world. During the last two decades, the participation of women in the labor force in this region presented a significant increase, from 44 percent to 54 percent, according to data from the International Monetary Fund.
In Mexico, according to the National Institute of Statistics and Geography (INEGI)Approximately 41 percent of mothers are part of the labor forcethe majority of them, 63 percent, are employees while 29 percent are self-employed or employers.
Child Care Benefits at Tesla
The announcement of the considered richest man in the world, It comes after it was revealed that he recently became a father for the tenth time.
“Children are worth it if possible. I am planning to significantly increase childcare benefits at my companies,” Musk said in a tweet.
Likewise, the billionaire said that his foundation, of which he is president, plans to donate directly to the families of his companies made up of SpaceX, Tesla, The Boring Co and Neuralink without giving more details. Where only Tesla, during the 2019 and 2020 years of the pandemic, the employees of the electric car manufacturer have doubled, registering an increase in jobs of almost 30 thousand people, according to your report.
“Doing everything possible to help the depopulation crisis,” adding that the falling birth rate is the greatest danger facing civilization.
This Wednesday the news broke that Elon Musk, 51, had had two twins with Shivon Zilis in secret and generated a stir in the media and on social networks. With the two Musk twins he is the father of a total of nine children, since the billionaire has five children with his ex-wife Justine Wilson born through in vitro fertilization: two 18-year-old twins (Griffin and Vivian Jenna) and 16-year-old triplets (Kai, Saxon and Damian). Musk also has two children with popular Canadian singer Grimes born via surrogate: son X AE A-XII and daughter Exa Dark Sideræl.
Musk’s proposal isn’t new to some major companies, as big tech companies have offered the benefit for years. As an example microsofthas the subsidized child care benefit for more than a decade, increased it in 2019, offering employees 150 hours a year of child care and 100 hours of elder care. Facebook, Apple and Google also offer such a benefit.
In conclusion, this proposal demonstrates something that has already been applied in the world, especially after the Covid-19 pandemic, where companies are starting to look at child and teen care from a new perspective to attract and retain female or even male talent.
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