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Are you a teacher, or do you work in a seasonal job where you might not need summer child care? Let's say you have a regular full time nanny throughout the year, but you know that once the end of May arrives, you won't need her services anymore. What are you going to do? Are you going to risk losing her to another family by laying her off for the summer, or are you going to pay the extra expense of keeping her on for those extra months? This situation can work to your advantage a couple of different ways:
1) If you've hired a nanny that you're not 100% satisfied with, you can use the end of the work term (or the beginning of summer) as a fresh start. When the contract is up, the nanny will have an opportunity to move on, and so will you.
2) Consider pooling your resources with other families in the neighborhood and job share a nanny for the summer.
3) Pay your regular nanny a little bit more than you normally would with the agreement that she'll return to your family when you return to work in the fall.
If you really value the work your nanny does, you might want to consider keeping her on year-round. After all, summer is your time too, and some extra help around the house can make your summer that much better.