[MUSIC PLAYING] - The United States has become the world's most important plant for the production of goods. We must cut production costs by applying the principles of automation. 

DEAN CARTER: American business is stuck in this industrial way of thinking about work, and the way we think about people as widgets and the way we manage productivity are all based on the model that was right for 1950 and very wrong for now. 

If you really think about how to manage productivity, if you want an equal number of men and women in leadership positions, if you want to reduce your turnover of new moms and new dads, have on-site childcare. 

- I get to see her all the time. 

- On my lunch breaks, on my 15-minute breaks. 

- I just take downstairs, cross the door, and it's my son. 

- --changed my life so much. 

- Having her here and being so close-- 

- What it does is it allows our family to have two incomes. 

- It makes that time that I am at my desk really productive. 

- I can be present in his life. 

- He called us, and they're like, oh, hey, so Cassie's starting to make progress and starting to walk, so you might want to come down. 

- I know 100% of the time my family is supported, which means you've got retention. I'm not going anywhere. 

- I know that if they have an issue I'm in the building. 

- --which means I have time to grow and have commitment to a company. 

- If it was another daycare, we would have missed it, and they would have been, oh, so today she walked. 

- If you want people to grow, give them the opportunity to be supported. 

- Here's how we look at the investment in on-site childcare. 80% of expenses are related to labor, the cost of the caregivers, 15% for the cost of real estate, and the remainder equipment and insurance. We charge market rates for tuition, and that makes up about 40% of the cost. 30% are mitigated through tax abatements either at the federal or local level. 

With higher rates of retention and higher rates of engagement, at the end of the day. The cost for the program ends up being just about the subsidy that we provide. And if you value the things I just talked about, lower turnover, more women in management, parity of pay between men and women because women don't have to take breaks in their career, all those things, if those matter to you, you're going to find that this is something pencils out very much in favor of the bottom line. 

We know that it costs 150% of the person's base salary to replace them, and we know that 43% of women who have kids don't return to work in a full-time capacity. But in our company, 95% of women return back to work, and to me, that's a cost savings. That's not having to replace that person. 

So I think that's huge. It's a huge business benefit. And I think that companies that don't get that or that miss that are missing a huge opportunity. Having been a CFO and now as a CEO, I wouldn't do it any other way. It's such an integral part to having a healthy, whole workplace.