Introducing “The Great Breakup”!
According to the Women in the Workplace Report 2022 by LeanIn.Org and McKinsey & Co., women leaders are demanding more from work and are likely to switch jobs to meet their needs.
This rapid turnover of women employees is becoming disastrous for companies as they try to aid their Diversity, Equality, and Inclusion efforts, and women continue to remain underrepresented in leadership.
But what’s prompting this shift, and what can you do to prevent it?
We’ve got the answers you’re looking for!
Why Are Women Leaders Leaving their Jobs?
1. Women Continue to Face Microaggressions
Women managers are just as likely as men to want to advance and pursue senior-level positions.
But, they frequently encounter microaggressions at work that undercut their authority and indicate that it will be more difficult for them to advance.
For instance, women are much more likely than men to have coworkers cast doubt on their judgment or imply that they lack the qualifications for their positions.
Women leaders are also more likely to claim that personal traits, such as their gender or the fact that they are parents, have contributed to their being passed up for a raise, promotion, or other opportunities to advance.
2. Women Managers Feel Overworked & Undervalued
Women executives work harder than men at their level to promote diversity, equality, and inclusion and support employee well-being.
This work has a significant positive impact on employee retention and satisfaction but has yet to be formally recognized in most businesses.
It can be more difficult for women leaders to grow if they invest time and effort in work that isn’t acknowledged.
Women leaders are more overworked than men in leadership, which is expected given that they are much more prone to burnout than men at their level.
3. Women Want Better Work Culture
Women are much more likely than men to resign from their jobs to have more freedom or to work for an organization that is more dedicated to DE&I.
Companies risk losing more women leaders if they don’t act on these developments. Women leaders devote more time and effort to successful people management, allyship, and DE&I than men do at the same level.
They are paving the way for a shift to a more welcoming, inclusive workplace, which is what the younger generation of workers wants and expects.
What Can You Do to Retain Women Managers?
1. Offer More Workplace Flexibility & a Better Culture
After the pandemic compelled corporate America to experiment with flexible work two years ago, interest in flexibility in all forms is now greater than ever.
So you must rethink your company policies as well as culture from the ground up. But a work-from-home policy is not a magical universal solution.
While this mode of work can be helpful, it can also be misused by the patriarchy to marginalize women and people with disabilities.
Many women choose to work from home to avoid dealing with toxic workplace culture. They consequently miss out on some of the advantages of working in an office. These include networking and learning about career progression prospects.
This cannot develop into a system where men go in person and women don’t. You must use flexible working to prevent its stigmatization, which might ultimately prevent women from advancing in their careers.
2. Managers are Essential for Retaining Women, But they Need More Support
Women are happier, experience less burnout, and are less likely to consider leaving their jobs when managers invest in DE&I and people management.
But, there is a growing gap between what is expected of managers and how they are trained and rewarded, which is reflected in how they behave.
Most businesses claim that over the past two years, managers have been expected to do more to support employees’ well-being, career growth, and inclusiveness on their teams.
But, less than half of women say their boss shows interest in their career and assists them in managing their workload. Also, only about half say their manager consistently supports courteous behavior.
Training managers on creating inclusive remote and hybrid work environments may be a crucial first step.
Employees who have the freedom to work how they prefer—remotely or on-site—are less likely to become burnt out. They are also happier in their positions, and are significantly less likely to think about quitting their employers.
The Great Breakup must have hit you like a big, scary ball of bad news. But there are always things you can do to combat such problems.
If you successfully implement these two major tips, you’ll be able to protect your firm from being this tornado’s target.