I’ve written before about “the Great Resignation” — the record number of people who have been leaving their jobs this year. Now we’re seeing more and more headlines that women are driving this phenomenon.
Photo by Alexander Suhorucov from Pexels
The Women in the Workplace 2021 report from McKinsey & Company and Lean In highlighted the growing crisis:
One in three women says that they have considered downshifting their career or leaving the workforce this year, compared with one in four who said this a few months into the pandemic. Additionally, four in ten women have considered leaving their company or switching jobs—and high employee turnover in recent months suggests that many of them are following through. … The risk to women, and to the companies that depend on their contributions, remains very real.
As we look toward the new year, I wanted to share some ideas about how organizations can turn this situation around in 2022. Hopefully, you’ll find at least one strategy on this list that you can bring to your own workplace.
Offer More Flexibility
Remote work and flexible schedules skyrocketed during the pandemic. Now some companies, including tech giants, are making those changes permanent. For example, Microsoft now allows employees to work from anywhere for half of their work week, and even 100% remotely with manager approval.
Flexibility is especially important to women. That makes sense, considering that women make up 75% of caregivers. However, simply offering remote or hybrid work options is not a cure-all when it comes to retaining women. Such changes must be implemented thoughtfully to ensure that women who are working remotely are not penalized for being less visible at the office
Promote Mentorship and Sponsorship
Understandably, women are leaving their jobs when they don’t see opportunities for advancement. And one reason that women don’t move up the ladder at the same rate as men do is that men are sponsored more often.
What’s the difference between a mentor and a sponsor? While both provide valuable career advice, sponsors also connect you to opportunities and advocate for you.
A program that connects women to mentors and sponsors sends a powerful message. That’s what companies like HERE Technologies have found.
Emphasize Wellbeing
During the pandemic, more organizations began to embrace the idea that employee wellbeing isn’t a “nice to have.” It’s essential for sustainable success. Because women are more stressed and burned out than men are, wellbeing initiatives are a powerful tool for retaining women employees.
Your company can support employees by offering wellness subsidies, as Deloitte and DocuSign do. Or you could help employees access mental health services, as Starbucks and Target do.
Resources You Can Use
At Newberry Executive Solutions, our focus is providing resources that organizations can use to engage and retain the women leaders that are so crucial to their future. As your company makes plans for 2022, I invite you to explore our programs, books, New Lens app and other offerings that can help you invest in women.