In light of recent workforce challenges, businesses must focus on supporting women to retain top talent and ensure workplace equality.
- During the ‘Great Resignation’, 29% of women considered leaving their jobs or reducing hours, highlighting a critical need for support.
- Caroline Gleeson emphasises the importance of International Women’s Day as a springboard for year-long inclusive practices.
- Research from Lean In and McKinsey reveals significant gender disparity in employee resignations, necessitating action.
- Businesses are advised to promote pay equity, inclusive culture, mentorship, and flexible working to support female employees.
In the wake of the ‘Great Resignation’, a significant 29% of women reported contemplating leaving their current job roles or reducing their working hours. This trend underscores the urgency for businesses to provide more robust support for women in the workforce. On the brink of International Women’s Day, the focus is on how these organisations can create a more supportive environment.
Caroline Gleeson, CEO at Occupop, highlights the opportunity International Women’s Day presents not only as a day of celebration but as an impetus for ongoing advocacy for women’s rights and equality. The theme for 2024, ‘Inspire Inclusion’, encourages both individual and organisational engagement, extending beyond the day’s celebrations towards systemic change.
Reports from Lean In and McKinsey present stark data about gender inequality in workforce resignations. Women are considering exiting the workforce at a higher rate than men. Contributory factors include the enduring pay gap, with PWC research noting a 14% disparity between men’s and women’s median hourly earnings. This issue is compounded by what is termed the ‘Motherhood Penalty’, alongside unequal childcare responsibilities globally.
Ensuring pay equity remains a fundamental and actionable step for businesses looking to retain female talent. Over the last decade, progress has stagnated, with the UK dropping to 14th in the Women in Work Index. Regular pay audits and transparent communication regarding pay structures are crucial for fostering trust and equity within organisations.
Cultivating an inclusive company culture where women are genuinely heard, valued, and respected is vital. The integration of unbiased recruiting processes can help eliminate gender bias traditionally inherent in human-led hiring systems. Recruitment software that removes unconscious bias can be instrumental in this transformation. Such inclusive practices can positively reinforce loyalty among existing female staff.
Opportunities for mentorship and career development significantly impact women’s career advancement, breaking down ‘glass ceilings’. In 2022, the establishment of 150,000 female-founded enterprises in the UK exemplifies the potential for mentorship networks. Facilitating access to mentorship and development programs can provide women with the tools and opportunities necessary for leadership roles.
Recognising that many women shoulder a disproportionate share of domestic responsibilities, it is essential that businesses offer flexible working arrangements. Data from a 2023 Deloitte survey indicates a lack of flexibility as a contributing factor for women leaving their jobs. Implementing flexible hours and remote working options can support women in balancing professional and personal commitments effectively.
Prioritising the retention and support of female talent is crucial for businesses aiming to build a fair and representative workforce.
