Happy #InternationalWomensDay!
It’s great to see all the posts on social media supporting women across all industries. It is crucial to keep raising the issues surrounding women in the workplace.
Recent research has shown that when heading into retirement, women typically have £100,000 less in pension assets than men. Reasons for this have been attributed to lower salaries, career breaks due to childcare and working patterns. The gender pay gap still looms large, with women still working two months of the year for free and whilst female representation at senior levels is increasing, with FTSE350 businesses hitting their women on boards target, it still needs work.
With this in mind, what is it that businesses should be doing to make a real impact and help women achieve equality and equity?
Flexible & hybrid working policies
Companies should be creating an environment where women, especially mothers, are able to work full time around their other commitments. By offering flexible & hybrid working to your employees, you will be able to attract and retain talent, deliver a positive work-life balance and foster loyalty.
Pay well & equally
This should be an easy one. Pay your workers equally for the work they do! Recent gender pay gap reporting means that young women entering the workforce today will not reach wage equality in their working life, with it looking like another 50 years until the UK reaches pay parity. The ‘motherhood penalty’ also leaves general equality worse than Poland and Hungary, with childcare costs spiking.
Consider your policies
How good are your women-centric policies? Consider how these affect the women in your organisation. Implement a positive approach to maternity, making it easier for women to return to work. Consider integrating measures to help women suffering through the menopause. Research published by the UK Government last year showed that women suffering one problematic menopausal symptom at the age of 50 were 43% more likely to have left their jobs by the age of 55. As our workforce changes and people working longer, shouldn’t businesses seek to support them and keep their talent in the workforce?
Recruitment and Selection
Industries with skills gaps have a disproportionately small number of women in the workforce, with construction and manufacturing right up there. We need to work harder at bringing women into these industries, supporting them with transparent recruitment practices. Companies should:
Make job adverts more inclusive. Remove language that may come across gender-oriented and use neutral words and job titles. Research shows men apply when they meet only 60% of requirements whereas women often screen themselves out of applying as they feel they cannot meet all elements in the descriptions.
Post salaries on adverts. This is not only for women, but when an employer is upfront about salaries, it showcases that they are committed to fair pay and women are more likely to apply.
Represent!
Companies should continue to showcase the women in their business year around, not just on International Women’s Day. Attend careers fairs, offer female mentors and get women out there sharing their stories.
There are positive stories out there. More businesses are seeking gender parity and publicly committing to do so. Businesses must continue to adapt their methods, implement policy improvements and become Employers of Choice to create a positive culture and space for women to work and fulfill their potential.
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