They make up 47% of the UK workforce (and rising) and their potential is estimated to be worth £23 billion a year. What’s more, organisations from all sectors with women on their board significantly outperform those with no female representation by over 40% in terms of return on equity and by over 50% in terms of operating results.
Recent years have seen a dramatic increase in the number of women working full time whilst balancing caring responsibilities. However, many women are encountering workplace obstacles after the birth or adoption of a child and those negative experiences are causing many to take significant action and make sacrifices – quite often at the peak of their careers.
Losing women leaders can be costly to your organisation in both retention and engagement. Roughly a third are leaving their roles in search of a better work-life balance –and for less money –and there are engagement issues too. Career growth is essential to satisfy ambitions, particularly amongst millennials who value this above all else.
Family-friendly organisations understand that attracting and retaining valuable working mothers requires a cultural and organisational shift. Maternity leave is a great start but is only the first step.
If you’re looking for strategies to help stop the talent drain Bright Horizons can provide a full range of work life supports to help with recruiting and retaining your talented female leaders. In a recent survey:
• 83% of employers said back-up care improved retention and reported a positive impact on women’s advancement*
• 74% of employees said that back-up care was important in their decision to return to work after the birth or adoption of a child*
• 69% of employees said access to back-up care it was important in their decision to join their company*
• 94% of employees with access to a workplace nursery said that it was important in their decision to join their company**
• 95% of employees said they’re likely to recommend their employer to other working parents**
*Source: The Lasting Impact of Back-Up Care, Conducted by Horizons Workforce Consulting®, 2016
**Source: The Lasting Impact of Workplace Nurseries, Conducted by Horizons Workforce Consulting®, 2016