Argos Retail Group has launched a tax-free childcare benefits scheme for its 45,000 employees.
The scheme is based on the government approved salary sacrifice model, which makes childcare more affordable and is designed to give staff significant savings on their childcare fees.
The scheme was developed following feedback from employees on their childcare needs and allows the firm to offer uncapped sacrifice savings for employees with children under five and capped sacrifice savings on childcare for working parents of children up to 16 years old.
The scheme offers working parents the choice of either partnership nurseries or virtual vouchers. The vouchers are available for employees choosing to use an alternative nursery not covered in the partnership scheme, or where the employee uses an alternative form of childcare, such as childminders or holiday clubs.
The scheme will be managed by nursery provider Kidsunlimited.
Vicky West, Argos Retail Group benefits manager, said: “This scheme is a welcome addition to our benefits package and will help to promote us as an employer of choice. It fits in well with our family friendly policies and we hope will help our employees juggle their work-life balance.”