DiscoverThe Big Hearted PodcastWhy services should NOT share their Dollars and Cents
Why services should NOT share their Dollars and Cents

Why services should NOT share their Dollars and Cents

Update: 2024-06-12
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Episode Summary: In today’s episode, I tackle the contentious issue of whether family day care services should disclose their financial breakdown to educators. Triggered by recent posts from educators questioning service fees, I dive deep into the complexities and challenges faced by service providers. Key Points Discussed: The Importance of Understanding Fees: I've previously recorded episodes about setting fees and the importance of educators knowing their fees. Links to these episodes will be shared in today’s stories. Initial Reaction to Fee Questions: I express my frustration at posts asking about service fees. I question the motive behind these posts and emphasise the potential misunderstandings and animosity they can create. Educators’ Earning Potential vs. Service Providers: I compare educators' potential earnings to the income of service providers. Discussing the lack of funding for services and the financial sacrifices made by service providers. Operational Costs and Confidentiality: I break down various operational costs and financial obligations of services. Highlighting the importance of maintaining confidentiality regarding staff salaries and financial details. Strategic and Competitive Considerations: The need for services to maintain a competitive edge and protect strategic priorities. Balancing transparency with protecting information that could undermine service operations. Focus on Outcomes and Quality: Shifting the focus from granular financial details to the quality and outcomes of services provided. Examples of investments in professional development and community involvement. Regulatory Compliance and Operational Efficiency: Explanation of regulatory requirements and the necessity for services to be financially accountable. Discussing the challenges and resource intensiveness of preparing detailed financial reports. Addressing Educators' Concerns: I acknowledge the valid concerns of educators but urge them to consider the broader perspective and complexities faced by service providers. Emphasising the need for respect, compassion, and unity within the family day care community. Final Thoughts: I call for greater understanding and collaboration between educators and service providers. I encourage listeners to voice their thoughts and engage in respectful dialogue about the issues discussed.

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Why services should NOT share their Dollars and Cents

Why services should NOT share their Dollars and Cents

Victoria Edmond