The Female Recession? Not through choice.
Supporting women through coaching to get them back into the workforce.
New data released this year recorded the lowest female participation rate within the office for 33 years. Not since 1988 has the balance of female to male workers been so low.
On the fight towards more balanced workforces through equal opportunities for women this is a sad statistic birthing the term, ‘Female Recession’. The importance of supporting women right now cannot be overstated.
The pandemic has impacted all of us, globally, yet when it comes to our professional lives it has impacted women more than men, and even more so women of colour.
Over 2.3 million women have left the labour force since February 2020 (compared to 1.8m men)
86.3% of job losses were accounted for by women
In 2020, women made only $0.81 for every dollar men made.
Reports state it is women who have had to shoulder the bulk of domestic responsibilities, mainly due to need for childcare duties. Is this a cultural trend or financial decision?
A McKinsey report offer the following factors as predictive of whether female employees considers downshifting or leaving:
Lack of flexibility at work
Feeling like they need to be available to work at all hours, i.e., “always on”
Housework and caregiving burdens due to Covid-19
Worry that their performance is being negatively judged because of caregiving responsibilities during the pandemic
Discomfort sharing the challenges they are facing with teammates or managers
Feeling blindsided by decisions that affect their day-to-day work
Feeling unable to bring their whole self to work
It will take a concerted effort on employers’ part to reverse this trend and investing in professional aid through coaching is one way. To support women back into the office, recover to an increasingly balanced and healthier workforce and fight on with gender equality, the time is now and the data shows big positive swings in the direction for women with coaches.
From Betterup.com research when accessing the experience of 440 women with personalised support, accurate data and insights showed women receiving coaching grew more, achieving disproportionate results over men, in four areas:
Physical thriving
Self-awareness
Inclusive leadership
Employee experience
As the spotlight on office culture becomes increasingly brighter, it would pay businesses to be more observant of these findings.
Supporting women with coaching offers a better return on investment over their male colleagues, benefits office culture and performance of the teams.
“Despite this added stress and exhaustion, women are rising to the moment as stronger leaders and taking on the extra work that comes with this: compared with men at the same level, women are doing more to support their teams and advance diversity, equity, and inclusion efforts.”
To combat this 'Female Recession', the decision companies make today will have huge repercussions in their organisations and society as whole for decades. Coaching provides significant improvements in both professional development and the experience of female employees, which in turn will generate a better stage for future generations.
Let’s expect more of ourselves and one another. That’s how we’ll achieve a workplace that is truly equal for all.
“We need to recognize and reward the women leaders who are driving progress. And businesses need to do the deep cultural work required to create a workplace where all women feel valued.”
