Families love the benefits of a nanny share as they enjoy personalized, in-home care for their children while sharing the costs with another family.
In a nanny share two (or more) families hire a nanny who typically cares for children in one of the family’s homes.
Before getting started on your nanny share, read How to Set Up a Nanny Share for steps and best practices for setting up and maintaining successful relationships with your nanny share family and nanny.
1. In-home Child Care is Now More Affordable
Hiring a nanny on your own can be expensive. A nanny can make on average around $15-25/hour (and sometimes more) depending on experience, education, and where you live.
However, the costs of daycare continue to rise. The average cost of center-based daycare in the U.S. is more than $11,000 annually with some states closer to $20,000/year.
A nanny share creates a happy medium between the costs and benefits of these two choices.
Each family in the nanny share pays a portion of the nanny’s hourly rate rather than her full rate if you were hiring on your own. Let’s the say the going rate for a nanny in your area is $20/hour. The families in a nanny share each pay a portion of that rate, which is typically two-thirds but can be higher.
Now you’re paying $13-14/hour while your nanny share family is paying the same. If your nanny works 40 hours a week, you can realize significant savings over the course of a year. And your nanny benefits too, as she should. She is dealing with multiple families and that requires additional scheduling and coordination. She’s now making around $300 more a week for full-time work in your nanny share.
Each family in the nanny share must pay at least minimum wage, which will be the highest of the federal, state, or local rate. Nannies also receive at least time-and-a-half for hours worked over 40 in a week. If you need help or have questions about paying your nanny or handling employment taxes, call GTM Payroll Services at (800) 929-9213. We offer a free, no-obligation consultation for nanny share families.
2. You Receive More Personalized Care
One of the advantages of having a nanny rather than paying for a daycare center is the personalized care and attention your child receives in the comfort of their own home. You can tell the nanny exactly how you want your child looked after including meals, screen time, nap schedules, activities, discipline, learning methods, and more. Your child can receive the same type of care in a nanny share. You can also dictate that the children get outside at least once a day in nice weather or go to the library for story time once a week.
However, to keep things simple and avoid confusion, you’ll want to find a nanny share family that has a similar child-rearing style to your own as your nanny will be caring for both family’s children at the same time.
3. Your Child Likely Will Get Sick Less Often
One of the downsides of a daycare center is the amount of sicknesses children frequently bring into the building. Your child now has an increased risk of exposure and contracting an illness. That means you miss work time to be home with your sick child.
In a nanny share, your child will be around fewer children so the risk of catching something from another kid is greatly reduced.
4. Your Child Gets Socialization with Other Children
A benefit to daycare centers is the socialization that your child receives being with other kids their age. They learn to play, share, communicate, and more with their peers. They can also start to develop friendships. When hiring a nanny on your own, your child may miss out on these opportunities. In a nanny share, your child will be with the other family’s children to build those social skills, enjoy having a playmate, and possibly grow a friendship.
To make this work, you’ll want a nanny share family to have children about the same age as yours so they can progress together. Also, the families should get their children together ahead of time to see how they interact with each other. Do they get along? Are they compatible? Make sure there are no serious concerns such as physical or verbal abuse.
5. You Enjoy Flexibility
A daycare center will likely have strict policies on hours, holidays, sick days, food, nap time, and more. With a nanny share, you and the other family can make your own rules. Just make sure you’re both on the same page and clearly communicate your expectations with your nanny. You can determine your nanny’s work schedule, which holidays she has off, and how much vacation time she receives. When your nanny takes a day off, having multiple parents involved means you don’t always have to take time off work and stay home. That can be rotated between the parents.
GTM Payroll Service Can Help
A nanny share offers plenty of benefits for your family, children, and nanny. It takes communication, flexibility, and some effort to be successful. The other piece to any household employment is getting taxes, payroll, and insurance done right so you stay compliant with the law. Call GTM at (800) 929-9213 to understand your obligations or check out our Nanny Tax Guide.