With the rising cost of just about everything these days, more and more parents are looking at Nanny Shares when it comes to childcare. While becoming more popular as a choice for childcare, many families and Nannies are still unclear as to what a Nanny share is and how it works. We’ll walk you through it.
What is a Nanny Share?
When two families come together and employ one Nanny. Typically, you will see the children are around the same ages, and the families may be related, know each other, or work together. Families can benefit by lowering the Nanny expense by about one third, that is each family is paying ⅔ of the Nanny’s hourly wage, and by having built in opportunities for socialization for their child. Care can take place in one or both (alternating) parent’s homes, and each family is considered an employer and complies with all employment laws.
The Nanny benefits from a Nanny share as well. A Nanny can earn 30-50% more in a share vs working for one family.
Characteristics of a Nanny Share
Multiple Employers. Two families come together to provide employment for a Nanny. The families work together to provide a salary and benefits package, job description, expectations, and rules. Employers work together to abide by all local, state, and federal employment laws. Multiple employers also means families will work together to make decisions, and ensure the needs of both families and the Nanny are met. Never put the Nanny in the middle of conflict with two opposing families.
Share Rate. The Nanny will negotiate her hourly share rate and each family will pay their portion. Families may decide to split the rate in half or decide how best to split the fee if one family is hosting both families in their home for care, or another child is added. Each share situation is different, so help determine what works best for everyone.
It should be noted that there may be times where the Nanny will only be caring for one family in the share, and that family would pay the Nanny’s single rate, but it’s all going to depend on how you write your work agreement and determine guaranteed hours. Note that each employer does not need to pay minimum wage. The Nanny will earn minimum wage with the combined rate of both families.
Benefits. As with sharing the hourly rate of the Nanny, the families will provide a joint benefits package. Industry standard benefits include guaranteed hours, PTO, paid holidays, sick days, mileage reimbursement or family provides a Nanny vehicle, and a health insurance stipend. Because families will be splitting the paid benefits, it is financially beneficial to both parties, and they can be creative when creating the benefits package for the Nanny.
Flexibility. When Nannies and families agree to a Nanny share, all sides receive the benefits of such an arrangement, but they are also faced with a good amount of compromise. Being flexible to all sides of the Nanny share will help make this a win-win, long-term placement.
Communication. Communication is key to any Nanny / family placement. Add in another family in a shared position, and it’s an added layer of organization on all parties. Set the rules of communication from the beginning. Maybe it’s a shared google calendar that everyone has access to. Maybe the Nanny sets the calendar based on events, appointments, vacations. It’s easy to talk things out amongst one another, but for a Nanny share to work, all parties need to be part of the communication. Apps such as COZI, RayzKidz or digital or printed forms from Our Nanny Diary, make communication among Nannies and families easier in today’s Nanny jobs.
Nanny Shares can be an extremely successful arrangement when done right. With open communication and organization, the benefits make it a win-win for both Nannies and families.
Connect with The Washburn Agency today to learn more about Nanny Shares and how we can help you find the perfect Nanny for your family.