A Guide to Getting Women to Want to Work for Your Company, and Keep Working for Your Company – November 29, 2022

McKinsey & Company, in partnership with Leanin.org, recently released an eye-opening study titled, “Women in the Workplace 2022,” which many of my colleagues and clients have been discussing ever since it was released on October 18th. This is the eighth iteration of this study, which surveyed more than 40,000 female-identifying employees at 333 participating organizations.

The data is great, and the way it’s presented by McKinsey & Company is easy to digest (if you haven’t already, I highly suggest that you at least skim through it, it’s not very long). And of course, I’m always left thinking, “Wouldn’t it be nice if someday we don’t have to have a separate survey just to look at women in the workplace?”

However, we’re not there yet, so let’s take a look at some of these findings.

Why are Women Leaving Their Places of Work?

McKinsey & Company focused their study on three major questions that have been plaguing Corporate America essentially since the pandemic lockdowns:

1. Why are women leaving?

2. What’s the problem?

3. What can we do about it?

Women remain significantly underrepresented in leadership, and the numbers only get worse for women when the intersectionality of race, sexual orientation, disability, and other aspects of their identity are added in.

The report highlights “The Great Breakup”, in which women are leaving organizations faster than ever in search of better opportunities. To quote the article:

“Why are women leaders switching jobs? Three primary factors that are driving their decisions to leave are:

1. Women leaders want to advance, but they face stronger headwinds than men.

2. Women leaders are overworked and under-recognized.

3. Women leaders are seeking a different culture of work.”

The bottom line: Many organizations are losing incredible talent and diverse perspectives, which translates to losing money and credibility in the marketplace, because they aren’t meeting women’s needs.

Why do we Still Have to Have These Conversations?

In 1997, I worked for Rockwell Automation, a highly male-dominated organization. I joined a Women in Leadership group, and women who were 25 years my senior at the time were saying the same thing I’m wondering in 2022, which is, “I can’t believe we’re still having these conversations.”

Much progress was made between 1970 and 2000 for women in the workplace, but it wasn’t nearly enough. 25 years after my Women in Leadership group, we’re still having very similar conversations. Not exactly the same — no doubt, things are better. Now, we’re not only talking about white women, but we’re also talking about people of color, people with disabilities, and other members of the community who often experience discrimination. That is progress.

But we’re still having this conversation.

We still mark Women’s PayDay on March 15th, which denotes how far into the year women have to work in order to earn what a man in the same position earned the year before. The average woman who works full-time earns just 83% of a typical man’s pay. Certainly, it’s better than it has been — I remember when that number was in the 60s.

When I left my corporate job 9 years ago, I did not believe that as a woman in leadership, I could successfully be a great employee and a great parent who truly had a life outside of work without burning myself out. And that’s exactly what happened in 2013, when I left and started my own business (and what droves of women are continuing to do today).

As an executive coach, I now support women (and men) in leadership who desire to create circumstances where they can flourish both in work and the rest of their lives.

There is Good News for Women in the Workplace!

It’s not all bad! Although women have been disproportionately impacted by the workplace rules that white men created 100 years ago, the fact that this study exists is fantastic. It’s a bold message saying, “women matter!”

Not only that, but women are finding companies where they can thrive in all aspects of their lives (yes, they exist!) The challenge is that women often don’t believe that these companies exist because they can only see within the four walls of their current employer.

I work with leaders in many organizations who are offering what women want… or, more clearly, what women are demanding: flexibility, advancement opportunities, leadership development, equal pay (I think — there is always a question in my mind about this), and where well-being and DEIB (diversity, equity, inclusion, and belonging) is a priority.

Ever since the COVID lockdowns sent a shockwave through our work lives, more and more companies have seen the light and reported that they are able to attract and retain a more diverse and qualified workforce by offering what employees expect today.

Employees: What You Can Do

If you find yourself in a role that doesn’t offer what you need (flexibility, opportunities for advancement, equal pay, etc.), here’s what to do.

1. Ask for what you need. So often, the answer is ‘yes’, but the employee never asked, assuming that they would be shot down.

   
   

2. Search within the company. If you do get a ‘no’ or cannot find the common ground you desire, search for other opportunities in the company. Sometimes a new manager who values what you do is all you need!

   
   

3. Send out your resume. If you’ve done everything you can to make your current situation work, send out your resume! Do not waste time. Click the box on LinkedIn that says you’re available for opportunities. Look at Indeed. See what else is out there for you.

You deserve to be valued, paid what you’re worth, developed, and recognized for your ambition. You deserve to thrive in the working conditions that are fast becoming required to retain the best employees.

Leaders: What You Can Do

If you are a leader, please, take the time to read the critical information in this report. There are many recommendations for what you can start doing immediately to avoid another amazing woman from leaving your team.

Here’s an example — and you can find further detail on how to implement these recommendations in the report:

• “5 Steps Companies Can Take to Navigate the Shift to Hybrid and Remote Work:”

  
  

  • Clearly communicate plans and guidelines for flexible work.

  • Gather regular feedback from employees.

  • Invest in fostering employee connectedness.

  • Be purposeful about in-person work.

  • Make sure the playing field is level.

Check your biases. We all have them (it’s human!). If you are in a position to hire and promote women, do some reflection. Are you assuming women won’t want to travel? Or can’t deliver tough news? Or can’t hold their own among a team of men? Ask yourself, “what might be holding me back from promoting women?”

The study tells us that the simple fact is, “for every 100 men who are promoted from entry-level roles to manager positions, only 87 women are promoted, and only 82 women of color are promoted. As a result, men significantly outnumber women at the manager level, and women can never catch up. There are simply too few women to promote to senior leadership positions.”

If you’re trying to create a culture where women will thrive, and want to stay, well… this study is your how-to guide! Be sure to read it.

Women are Talking With Their Feet

Women are showing us what they need and want through their actions. When this many women leave positions this quickly, either in search of advancement elsewhere or to start their own business, it’s way overdue for something to change.

You can be part of that change. The first step is to educate yourself about what’s happening.  Read this report, ask the women on your team to share their ideas, and then take action.  In doing so, you will be making the workplace better for ALL of us.