3 Critical Incentives To Keep Women Engaged In The Workforce
Women have been stepping up in workplaces all over the country to meet the extra challenges brought by the pandemic. But this "business-critical" work isn't part of their formal job descriptions and may not be recognized or compensated, according to Lean In and McKinsey's sixth annual "Women in the Workplace" report. Drawn from the most extensive study of professional women in corporate America, their findings paint a picture of women having to stretch further than their male colleagues to accommodate workplace expectations, leading to damaging, widespread burnout.
Burnout is just one reason the pandemic has taken a devastating toll on women in the workforce, with 275,000 women leaving in January 2021 alone. Another is the layoffs and closures of specific service industries. Plus, many women voluntarily left the workforce or were forced to manage distance learning, care for young children or step in as caregivers to elderly loved ones.
The pandemic has set women's participation in the labor force back thirty years. Since last February, almost 2.4 million women have left the workforce—a disproportionately high number compared with the 1.8 million men—levels last seen in 1988.
How does leadership address the growing divide?
As the attrition continues, the significance of these well-known and common deficits is laid bare again in glaring relief. If a policy overhaul is needed but not in the short-term cards, it's time to start the conversation and allow small changes to plant the seeds for growth:
1) Pay women the same as men for the same work
Although women's pay has increased by 60 percent since the 1980s, the gap is still there. Women still earn 82.3 percent less than men (82 cents for every dollar a man earns). When you look at women of color, immigrants and women with children, that gap becomes even wider. This stubborn issue persists despite improvements in women's education and participation in the labor market.
2) Provide 12-weeks minimum paid maternity leave
The US is just one of 11 countries that do not guarantee this benefit. When women are empowered through paid leave, they can plan their pregnancies to dovetail comfortably with their careers, free from the stresses and uncertainty that may impact them before and after birth. Demonstrate your investment in your employees.
It can really pay off for your bottom line in the long term. I've coached a significantly increasing number of professional women this year, many of who expect to remain with their companies, at least partly influenced by the generosity of their organization's maternity leave policy. In the US, paid maternity leave recently reduced the number of women leaving their jobs the first year after having a child by 20 percent. And the number of women leaving their jobs within five years of giving birth reduced by 50 percent.
3) Expand career development opportunities
Forward-looking career programs are holistic in design and function, boosting engagement, innovation and productivity. When an employee leaves, it means they realize they can be in better alignment with their goals elsewhere. To promote career progression for women in the workplace, offer agile growth opportunities. Supporting employees through employee resource groups (ERGs) can also provide at-risk groups like women of color and working mothers opportunities to learn about topics crucial to retention, like preventing burnout.
We need fewer women impacted by the toll of the pandemic and chronic workplace stress. Equitable pay, compassionate maternity leave and holistic career development opportunities are three ways to get there. But, it's going to take what it takes to raise a child: a village.
This article was first published on Forbes.