Recent announcements by Credit Suisse Bank and private equity firm KKR that they will pay the expenses of nannies to accompany parents who wish to bring children under a year old on business trips has upped the ante for companies enhancing parental benefits in order to attract and retain top tier employees.

“I think these companies decided to offer this perk because they have employees involved in business activities where their personal presence is very valuable,” says Ken Matos, senior director of research at the Families and Work Institute. “The cost of a plane ticket is negligible compared to the kind of money that is probably at stake in the deals made on these trips.”

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