In 1960, 11% of women were the primary or sole earner for their household. Today, that number has more than tripled to 40%. Additionally, women are now more likely than men to earn a bachelor’s degree by age 29. Not only are there more women in the workplace, but an increasing number of these women are—or may someday be—mothers: 70% of women with children under the age of 18 are part of the workforce, and 75% of those women work full-time.
At Ovia Health, we empower women to do and be their best at work and at home – but they can’t do it alone. We help employers become allies for women by offering benefits solutions that help cultivate happier, healthier employees. In pursuit of this goal, we’ve uncovered a variety of ways that your company can more effectively attract and retain top female talent.
Train female talent for leadership positions
48% of women feel they’re overlooked for leadership positions. If you invest time and energy into training the female talent already at your organization, you’re positioning yourself to build loyalty, reduce turnover, and increase retention. Employees who feel their leadership skills are being developed are up to 15% more likely to stay at their current employer for more than two years.
Offer benefits that interest women
96% of employers say it’s a priority to enhance their employees’ experience with their health programs. An easy way to keep your benefits competitive is to offer programs that effectively support employee health. From fertility benefits to gym reimbursements, millennials are increasingly interested in “less traditional” offerings, and, because they are living in a digital world, they’re also interested in a digital benefits program. (Luckily, we have some tips to get you started.)
Recognize that benefits need to change as women’s priorities change
The benefits that initially attract women to your organization may not be the benefits that encourage them to return to work after starting a family. Offering benefits solutions that specifically help with the cost of raising a family can be hugely impactful in retention. Plus, it can help your bottom line.
Develop an effective (and appealing) maternity leave policy
Did you know 43% of women don’t return to work after starting a family? Facilitating your employees’ transition back to work after maternity leave will help you retain female talent by providing a support system for pregnant employees, making your workspace parent-friendly, and implementing services and policies to ease employees through this transition. For more details, download our ebook How to Help Your Employees Return From Maternity Leave.
The workforce is undeniably changing – as the number of women in the workforce grows, companies have to evolve their structure and policies to remain competitive and relevant. Women need their employers’ support, and Ovia Health is here to help!