Long story short: Want to help your business? Start by helping women

March 25, 2022 11:47 AM

If you're eager to attract and retain your female employees, it's time to take a look at the policies and practices you have in place to support them.

Women have left the workforce in droves during the pandemic, and getting them back means looking at your workplace culture and the employee benefits that can help them succeed. A survey by Clockwise found that 20% of female employees don't see a future for themselves at their companies, double the rate of male employees. To address these issues, women need to feel seen and that their specific challenges — especially when it comes to caregiving responsibilities — are being addressed.

There are some employers up to the task: financial insights company FinanceBuzz rounded up the companies with the most comprehensive parental leave policies. Google, Microsoft and Netflix, among others, offer months of leave time after the birth of a child, as well as other benefits that support moms — and all parents — in and out of the office.

Are you doing enough for your female employees? Take a look at our top stories from this week for the strategies and benefits making a difference:

11 companies with the best parental leave policies

While 40% of employers offer a standard 12 weeks of maternity leave, only 25% of women take nine weeks or longer — paid or unpaid, according to career insights platform Zippia. For many, a lack of paid maternity leave forces parents to take far less, even when they need it.

“As a new parent, taking a break from work to support your family is an absolute necessity, especially during such a big life transition,” Kris Osborne, vice president of talent at financial insights company FinanceBuzz, tells associate editor Paola Peralta. The company rounded up the companies with the most comprehensive leave and other parental benefits.

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11 companies with the best parental leave policies

6 workplace challenges faced by moms of color

The pandemic pushed 2.1 million women out of the workforce, as lay-offs, inaccessibility to child care and the overall strain placed on working moms caused a mass exodus — and Black and Latinx moms experienced the brunt of it.

As employers grapple with finding ways to bring women back into the workforce, RISE, The Mom Project’s free upskilling program, highlighted pain points employers must address if they want to attract and retain their top talent. Helping women of color advance in their careers, find financially stability and take advantage of health and wellness benefits can go a long way to helping this population, associate editor Deanna Cuadra writes.

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6 workplace challenges faced by moms of color

Women don’t feel comfortable at work. Here’s how to fix your culture

In order for employees to see a long-term career trajectory for themselves, they need three keys that will set them up for success: a manageable workload, to be rewarded regularly — whether that's praise or reward through promotions or raises — and opportunity. For women, the lack of these components is making their work experience worse.

If employers don't work hard to address these issues, they risk losing even more female talent, Anna Dearmon Kornick, head of community at Clockwise, tells associate editor Paola Peralta. Talk to your female employees and then act on that feedback, she advises, in order to build a culture that's sustainable.

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Women don’t feel comfortable at work. Here’s how to fix your culture

How to close the retirement gap between men and women

According to data from insurance company TIAA, women have 30% less saved for retirement than men. Because of factors like the persistent wage gap, along with career breaks for caregiving, these missed savings opportunities can reduce a woman’s ability to be financially stable once she leaves the workforce.

Employers should get specific with their approach toward education and make sure the content speaks directly to women’s experiences. Executive editor Alyssa Place speaks with Shelly Ann Eweka, senior director of financial planning at TIAA about addressing healthcare costs and acknowledging this savings gap exists can highlight the importance of doing something about it now.

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How to close the retirement gap between men and women