The Real Working Parents Report 2024

• 57% of parents regret returning to work when they did.
• Anxiety (37%), stress (31%), guilt (30%), and sadness (25%) are the most common feelings experienced by working parents.
• 67% of parents feel guilty when they have to leave work unexpectedly.
• 59% of parents do not feel judged at work for being a parent.

It’s no surprise that being a working parent comes with a lot of challenges – balancing a workload with school pick up and drop offs, extracurricular activities, helping with homework, and taking care of sick kids.

The Real Working Parents Report 2024, part of Real Insurance’s Research Series, offers valuable insights into the challenges faced by working parents in Australia. It examines the financial and emotional pressures that influence their decisions about returning to work, particularly in today’s economic climate. The report also highlights the emotional toll of balancing work and family responsibilities, revealing the difficulties many parents encounter while striving to be present for their children.

Financial pressures and early return to work

The research found that almost 3 in 5 (57%) parents who took parental leave regret returning to work when they did. The main culprits? Financial pressures (45%) and missing out on important milestones in their children's lives (39%). More than half (52%) of parents felt they didn’t take enough parental leave, showing a tough balance between making ends meet and being there for their kids during those early stages of life.

The financial aspect is particularly pressing. With the cost of living (54%) and basic household needs (48%) as the top reasons why parents are heading back to work sooner than they'd like. This trend reflects the broader impact of Australia's current economic situation, making it increasingly difficult for families to survive on a single income and resulting in more parents returning to work sooner than anticipated.

Parental guilt: The emotional toll of returning to work

The tough decision to return to work early comes with a hefty emotional price tag. Many parents report feeling anxiety (37%), stress (31%), guilt (30%), and sadness (25%) when they go back to their jobs. These feelings are understandable, considering the difficult choices parents have to make between financial security and spending valuable time with their children.

Despite these challenges, there's a silver lining. The report found that over 4 in 5 (83%) parents appreciate getting a break from their children while at work, highlighting the complex mix of relief and responsibility they feel. Work can offer a respite from the constant demands of parenting, providing a chance for adults to engage in different types of fulfillment and achievement.

However, this doesn't completely alleviate the guilt many parents feel. About 7 in 10 (67%) parents experience guilt when they have to leave work unexpectedly for child-related emergencies, such as picking up a sick child from school or childcare. This guilt can be exacerbated by concerns that being a parent negatively impacts their career prospects. While around 2 in 5 (40%) feel they miss out on work opportunities or feel judged by their bosses or colleagues (42%), it’s encouraging that close to 3 in 5 (59%) do not feel judged. Additionally, over a quarter (28%) believe colleagues without children are given preferential treatment. This suggests there is room for improvement, but also highlights that many parents feel supported in their roles.

The cost of care: Financial burdens and childcare costs

Raising kids is expensive, and the report confirms that half of the working parents find it unaffordable to have children in 2024. For parents with school-aged children, the costs extend far beyond the classroom, with an average weekly spend of $314 on after-school care, tutoring, and extracurricular activities. That’s over $12,560 a year, causing over 2 in 5 (43%) parents to worry about the cost of professional care.

To cope, over 4 in 5 (81%) parents turn to in-laws or other family members for support. This reliance on extended family highlights the community-based solutions many parents are adopting to manage their financial burdens. Even so, more than 7 in 10 (74%) parents find managing their child’s care and education expenses challenging. Many parents dip into their savings (44%) or take on extra working hours (42%) to make ends meet.

The financial strain extends to all aspects of family planning. When deciding to start or grow a family, the top consideration for just under 3 in 5 (59%) parents is financial stability and the cost of living. This is followed by relationship stability (49%), emotional readiness (46%), and the cost of childcare and education (42%).

Juggling act: Balancing work, parenting, and life

The report underscores the immense pressure on parents to balance work, parenting, and personal responsibilities. More than 4 in 5 (84%) working parents feel the strain, with close to half (45%) feeling very or extremely pressured. On average, parents spend 33.6 waking hours per week with their children, yet almost all (91%) wish they could spend more time with their kids.

The top pressures include ensuring financial stability (49%), being present for their children (49%), managing household tasks (49%), and finding time for personal care (47%). Parental guilt is widespread, with 91% experiencing it, mainly due to not spending enough quality time with their children (45%) and financial constraints (38%).

Parents are also struggling to find balance in their relationships. More than 4 in 5 (85%) admit that work stress impacts their relationship with their partner, leading to reduced quality time (43%), less patience (35%), and financial disagreements (32%). This strain can lead to feelings of resentment, with 25% of parents feeling jealous of their partner for being able to spend more time with the children.

Returning to work: Gender disparities in parental leave

The report also highlights gender disparities in the experiences of returning to work after parental leave. Women report higher levels of anxiety (46% vs. 26%), stress (38% vs. 22%), and guilt (40% vs. 18%) when returning to work after maternity leave compared to men returning from paternity leave. Additionally, over 2 in 5 (44%) women feel they miss out on work opportunities due to parental responsibilities, compared to over 3 in 10 (35%) men. Women are also more likely to feel judged by colleagues or bosses (41% vs. 28% of males) and worry about job security (25%).

This disparity extends to career progression and job satisfaction. Many women feel they have to put their careers on hold or reduce their working hours to manage their parental responsibilities. The report shows that 35% of parents have considered changing careers after returning to work, around 2 in 5 (41%) have reduced their working hours, and a significant 7 in 10 (70%) parents have put their careers on hold, with women (80%) more likely to do so than men (59%).

Supporting kid’s educational growth

Despite the challenges, working parents are making significant efforts to support their children's education. Nearly a quarter (20%) of parents spend over two hours a day on educational activities with their children. However, around 7 in 10 (68%) wish they could spend even more time helping with homework and other educational pursuits. The report found that around 2 in 5 (36%) working parents feel pressured to meet their child's educational and developmental needs, further highlighting the juggling act many parents face.

The research provides a detailed and eye-opening look into the complex and often challenging world of working parents in Australia. It highlights the financial pressures, emotional toll, and gender disparities that parents face as they juggle the demands of work and family life. These insights are crucial for employers, policymakers, and society at large to better support working parents and create a more balanced and equitable environment for all families.