The UK's leading childcare providers are to agree a code of practice that will provide voluntary standards for best practice in the childcare industry.

Providers including Busy Bees Childcare Vouchers, Sodexho Pass and Grass Roots Group joined forces to launch a campaign in April to discover the most successful means of promoting productivity, motivation and engagement through childcare voucher schemes.

The consultation found 61% of employers were satisfied with the service offered by their childcare provider and 43% rated vouchers as an ‘extremely reliable' income stream.

But the consultation also showed room for improvement and providers have agreed to build a model to improve on current best practice, provide clear accessible information and safeguard their clients' money.

Simon Moore, managing director of Busy Bees Childcare Vouchers, said: "All the companies involved in this process are keen to ensure high standards are consistently applied across the sector. We have a common interest in promoting excellence in the delivery of childcare vouchers and are pleased this consultation demonstrated that childcare providers, parents and employers alike do value the scheme.

"We look forward to continuing to work collectively through the new code of practice."

The code of practice is expected to be launched this autumn, overseen by a representative body for the childcare industry.

It is 20 years since the launch of childcare vouchers. Find out what industry experts and employers think the future holds for the benefit.