This one critical benefit can keep women in the workforce

The return to work is in full swing as more people get vaccinated against COVID-19, but recent job numbers reveal that women — especially women of color — are being left behind.

In April, 2021, 4.5 million women were still out of work, compared to 3.7 million men, and another 165,000 women dropped out of the workforce altogether, according to Labor Department data. Factors including ongoing caregiving responsibilities, uneven school reopenings and unreliable access to affordable child care have made economic recovery for women especially difficult.

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“There's always been this caregiving crisis that's kind of been bubbling below the surface for years,” Lindsay Jurist-Rosner, CEO and co-founder of Wellthy, said during a panel discussion at Employee Benefit News’ Workplace Strategies Agenda virtual conference. “What we saw through the past year and a half of the pandemic is that the bubbling started to come up to the surface, and additional pressure was put on women. The pandemic was the straw that broke the camel's back for women, especially caregiving women.”

Caregiving responsibilities aren’t limited to raising young children, and can also include caring for an elderly loved one or a sick or disabled relative. The burden of providing this support continues to disproportionately impact women, especially women of color who may not have access to some of the caretaker services on the market today.

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Employers have the opportunity to step up and provide no-cost or low-cost access to caregiver services through a structured benefit — programs that don’t just help employees, but help employers build a more loyal, focused and diverse workforce.

“The ROI is really simple when you think about it that way,” said Jurist-Rosner, whose company helps employers provide caregiving support and benefits to workers. “If you can save just two [women’s jobs], it really does make a big difference. That's how we're starting to think about and talk about ROI, and we're seeing that resonate with employers.”

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When it comes to supporting the women within your organization and recruiting more women into your company, it isn’t enough to simply offer a benefit and walk away: understanding the needs of your employees and creating a culture of care that normalizes discussions around these needs is crucial.

“The workforce is your most important asset,” Julia Brncic, senior vice president and chief counsel of corporate strategy at Cigna, said during the panel. “These types of engagements and these types of discussions do move the needle, and it’s why we encourage a greater deal of disclosure around what you are doing to invest in your workforce.”