13 Jan Four Strategies to Retain Women in the Workforce
Did you know there are fewer women working today than there were in 1988? There’s an exodus happening right now — and you can help.
43% of women leave their careers within one year of having a baby, and COVID-19 has led to an exodus of women leaving their jobs. Employers need proven strategies to retain women through this crisis, and beyond.
“The First Female Recession Threatens to Wipe Out Decades of Progress for U.S. Women” – Bloomberg
“Pandemic Could Scar a Generation of Working Mothers” – New York Times
“Women’s Job Losses from Pandemic Aren’t Good for Economic Recovery” – The Wall Street Journal
We’ve all seen the headlines. And the statistics:
2.4 million additional cases of burnout among working moms
Nearly 2.2 million women have left the workforce since February
The percentage of American women working is the lowest it’s been since 1988
One in four women are considering downshifting their careers or leaving the workforce due to COVID-19
There’s no question that we’re facing a crisis that threatens to roll back decades of progress for women in the workforce.
But the reality is, this crisis is part of an old, familiar problem for companies: 43% of women leave their careers within one year of having a baby.
Why?
In one poll, 61% of women said family responsibilities were the main reason they weren’t working. Indeed, the many reasons—the exorbitant cost of childcare, the gender pay gap, burnout and lack of flexibility in working hours, disproportionate household and caregiving demands falling to women, to name just a few—all point to the unequal burden U.S. society has long placed on women, and moms in particular.
In addition, many companies have made leaps in paid maternity leave policies but leave alone isn’t enough to retain new moms. Companies need to shape their cultures to be more supportive of parents, and they need to step up their return-to-work support—like career coaching, support with pumping at work and breast milk shipping, training for managers, or flexible hours for ramping back.
Companies need holistic policies, infrastructure, and programs that extend support and benefits beyond leave through the return-to-work transition and into parenthood to show parents that they support them, and to retain talent long-term.
COVID-19 is creating renewed urgency to retain women
The latest data tells us that in addition to forcing women to leave the workforce in droves, COVID-19 is also forcing pregnant women to consider major life changes—adding to existing challenges for talent retention. We find that the uncertainty of this pandemic is driving women to consider major changes for work and childcare. Many women are seriously considering not returning to work or working exclusively from home going forward. We are also seeing them use family members for childcare rather than sending to daycare or in-person learning.
This tells us that problems retaining women in the workforce exposed by COVID-19 will only continue if employers do not step up their support for parents and parents-to-be.
What this means for companies
Employers need proven strategies now to retain the one-third of their workforce who are parents, many of whom are facing a breaking point—along with those who are growing their families.
When women leave their jobs, it adds up for your bottom line and your company:
- Replacing an employee costs employers up to 213% of that employee’s salary
- There’s a proven waterfall effect when women leave leadership positions: it increases turnover among women and diverse employees at all levels, and slows progress toward more inclusive and family-friendly company culture
- Research shows that company profits and share performance can be close to 50% higher when women are well represented in leadership positions
Parents need continuous care and support—at work, for themselves, for their kids whether they are newborns or toddlers or school-aged—to help them navigate all stages of parenthood at home and at work.
Here are four proven strategies to retain more women in the workforce through this crisis, and beyond.
1. Go beyond maternity leave for women and provide return-to-work support
Companies that invest in paid parental leave without comprehensive return-to-work support are leaving money on the table: if 43% of women leave their jobs within one year of having a baby, the national average return-to-work rate is 57%.
This matters. By providing return-to-work support to all employees, you’re acknowledging that life as a new parent is a major transition. It’s often challenging for families to adjust to new routines, being away from a new baby, navigating common postpartum physical and mental health needs, pumping at work, setting sleep schedules, and so much more. Providing services that offer 24/7, on-demand access to doctors and specialists like lactation consultants, career coaches, infant sleep coaches, pediatricians, parenting coaches, and maternal mental health specialists, helps new parents feel confident at work and helps them navigate the transition in a more relaxed, productive way.
2. Ensure specialized mental health support is integrated throughout pregnancy and into parenthood for women
As parents we know that our own mental health is not a top concern. Working parents need more support and they are expecting more from their employers to help them through this time, particularly during a pandemic surge facing big decisions on childcare and schooling while juggling work needs.
Telehealth behavioral health services is an excellent offering for not only parents, but all employees. Offering telehealth services with licensed professionals ranging from social workers to therapists to counselors who specialize in key areas like parenting and children’s behavioral health, postpartum depression, coping with grief from miscarriage or loss, and more, is an opportunity to build on your employee benefits program.
This specialized mental health care can make all the difference for your employees’ health and wellbeing, not to mention your bottom line.
3. Train your managers to be empathetic leaders
How your people managers treat and support pregnant women, new parents, or overwhelmed parents trying to juggle childcare or virtual schooling could make or break employee satisfaction, engagement, productivity, and—ultimately—retention.
If you’re talking about more paid leave or flexibility to retain more parents in your workforce, it is important to add training to your managers priority list.
4. Give parents one thing they always want more of: time
Time is a precious commodity for pregnant women, parents, and everyone, really. As an employer, you know that your employees’ working hours are the key to productivity, creativity and innovation, and ultimately, revenue.
That’s where on-demand access to telehealth can play a critical role. Healthcare professional meet your employees where they are, get them the care they need, when they need it.
Compare that to a typical doctor’s appointment: the time spent finding a specialist and calling them to book an appointment plus the time spent traveling to and from a doctor’s office, waiting in a waiting room, filling out paperwork, or the like. During pregnancy and the postpartum period, and as a parent with kids of any age, every minute matters.
Saving parents time so that they can see vetted specialists on-demand through virtual appointments improves their overall health outcomes, drives down costs, and helps make them more engaged and productive at work.