Why the World Needs More Women in the Workplace
Companies that don’t recognise the value of women in the workplace are missing out on opportunities. Along with the obvious benefit of doubling the size of their talent pool, having more women in the company can also improve performance.
Research shows that women in the workplace (and gender diversity in general) and profit go hand-in-hand. For example, Fortune 500 companies with more women on boards do better financially while higher sales and profits are synonymous with gender-diverse teams.
These are just a couple of examples regarding the benefits of more women within an organisation. However, profit isn’t the only way that more women in the workplace can be beneficial, as we’ll cover in the Pacific Prime UK article.
The Benefits of Having More Women at Work
The Centre for Creative Leadership’s What Women Want study dives deep into the topic of women in the workplace, covering women in the workplace statistics and so much more. A key finding of their research shows that more women in the workforce makes a company a better place to work for all.
Not only does a higher percentage of women in an organisation predict less burnout, but more job satisfaction, organisational dedication and meaningful work as well. Companies that are looking for ways to improve employee engagement and retention should also pay attention, as more women in the workplace has a positive impact on that too.
Workforces with higher percentages of women said that they were likely to stay with their employer for reasons such as enjoyable work, work-life balance and overall positive workplace culture.
But the advantages of women in the workplace don’t end there. Experts say that women’s effective communication skills improve collaborative work efforts, while their intuition, sensitivity and emotional intelligence (EQ) help create a balanced workforce. The list goes on.
The State of Women in the Workplace
While more women leaders are taking a stand and speaking out about gender diversity and employee wellbeing, their efforts often go unrecognised. It’s time for companies to step up and take the time to understand what women want at work and why it’s important.
Addressing burnout is a good place to start. On top of that, organisations need to address one of the most prevalent female workplace issues, which is the lack of recognition and reward for their integral role in driving progress.
Three Ways to Retain Female Employees
Organisations that are looking for ways to attract, retain and promote women in the workforce often wonder where to start. Here are three ways companies can get the ball rolling.
1) Think about the bigger picture
When asked why they choose to stay with their current employer, the most common answer women give is that their job is a good fit with other aspects of their life. Other reasons include enjoyment in their work and feeling like they have a purpose.
Many women also touch on the importance of meaningful work that allows for work-life balance and ties in with their values. These reasons make it clear that women are looking for more than just a 9-to-5. They want what is referred to as “a calling”.
When it comes to jobs, a calling is something that a person feels naturally drawn towards, finds enjoyable and meaningful, and is an integral part of who they are. It’s no surprise that work that feels like it’s fulfilling a calling results in greater job satisfaction.
2) Admonish sexism
Raises, promotions and leadership opportunities appeal to women just as much as they do to men. However, the reasons women at work turn down leadership opportunities are vastly different.
While men are more likely to turn down positions because it essentially wasn’t what they want, women have unique reasons such as lack of confidence in their qualifications, concern about being set up to fail and how others would feel about it.
Research backs up these concerns, with studies showing that companies expect women to have more qualifications than men. Also, women don’t get as many resources (such as supervisor support and funding) as men when it comes to leadership roles.
“Glass cliff” positions, or leadership opportunities that are more likely to fail, are high stakes, etc., tend to go to women too. It only makes sense then that women believe admonishing sexism across the board (e.g. salary, experiences and opportunities) is the most important thing a company can do.
3) Offer flexibility
When it comes to employee benefits, flexibility is top of the list for female employees. Paid time off (PTO) is the most valued perk, followed by health insurance, flexible working arrangements and advancement opportunities.
PTO, working from home and flexibility are especially important to women who want to raise families. Women with children may value flexible schedules and work-from-home arrangements even more than women who don’t have children.
Make the Most of Your Employee Benefits with Pacific Prime UK
Employers must do their best to ensure that their employee benefits are tailored to the needs of their workforce. One of the easiest and most effective ways to do that is to offer flexible benefits. Also known as flex benefits, these benefits allow you to provide an array of perks for employees to come up with a personalised benefits plan that matches their needs.
Pacific Prime UK is a global health insurance brokerage and employee benefits specialist that can help you manage flex benefits. On top of that, we are happy to assist you in creating and implementing other employee benefits solutions that cater to your organisational needs.
Arrange a free consultation with our corporate team to learn more about what we can do for you today.
Jantra curates and reports on the results of Pacific Prime’s monthly newsletters, as well as manages Pacific Prime’s Deputy Global CEO’s LinkedIn posts. Complemented by her background in business writing, Jantra’s passion for health, insurance, and employee benefits helps her create engaging content - no matter how complex the subject is.
Growing up as a third-culture kid has given her a multicultural perspective that helps her relate to expats and their families while 8 years of working remotely have given her unique insight into hybrid work arrangements and enthusiasm for employee benefits.
- Wellness Wednesday: Boosting Employee Well-being at Work - August 16, 2023
- What Is the Average Cost of Family Health Insurance in the UK? - August 7, 2023
- Why the World Needs More Women in the Workplace - July 21, 2023
Comments
Comments for this post are closed.
We'll notify you
when our team replies!