As a working Mother who led thousands of working Moms for the past few years, I’ve experienced the benefits of creating an environment where they can thrive. It’s a win for working Moms, who can contribute their best for customers and colleagues. And for the organization, which can attract and retain top talent and gain female consumer insights.
Employment Market Matters
We’ve seen heaps of headlines about Artificial Intelligence displacing people in the workplace. But many roles are not replaceable. Industries such as retail, manufacturing, hospitality, and agriculture not only require skills – they demand hands-on work.
And with projected population declines, the war for talent is likely to increase in the years ahead. A recent Korn Ferry study indicates the global talent shortage could reach 85 million people by 2030, resulting in about $8.5 trillion in unrealized annual revenues. That means organizations will need to open their doors to diverse employee sectors, including working Moms.
Yet tapping this talent pool is no easy task: Recent McKinsey research revealed that 29% of women regularly consider quitting. Why do they feel the need to leave the work force? While there are multiple motives, Bright Horizons and the AAUW report two top reasons: feeling overwhelmed and the inability to balance work and family needs. McKinsey studies further reinforce that women have greater responsibility at home, for housework and childcare compared to men and that the disparity nearly doubles for women in leadership roles. No wonder women are considering quitting.
What Companies Can Do
As an executive who has led a multibillion-dollar market for a major retailer with thousands of Moms on my team, I understand the importance of engaging and retaining working Moms. I learned first-hand the value of listening to their ideas and insights. And equally important?
Acting on them.
Here are five initiatives you can take to create an environment where working Moms can contribute their best for your organization:
- Create a Reverse Mentorship Program – It can be hard for leaders to relate to the position of a working Mom. Reverse mentorship provides a process to build relationships, understand the working Mom’s needs and allow Moms and managers to learn from each other. Often targeted at tech education, reverse mentorship has been used for years in many capacities to help leaders learn new tech and gain generational intel. Having acted as a reverse mentor myself, I understand how the relationship allows leaders to ask questions they otherwise might not have been comfortable posing. This safe space can result in open conversations that lead to positive changes that benefit working Moms. And also increase employee engagement, loyalty, and retention.
- Review Existing Policies and Benefits – Beyond maternity and paternity benefits, organizations have multiple policies that impact working Moms. Are your personal and sick days competitive? Do you provide flexible hours, or regular schedules that allow employees to plan for childcare needs? Are there changes you can make that cost the organization little, but would support the needs of working Moms? With subsidized on-site child care, stipends for parents who qualify but aren’t in a place where there is an on-site child-care center, and a commitment to promoting work/life balance, Patagonia has long been an example of a company that supports working parents. Their policies pay off: Patagonia retains about 95% of working Mothers.
- Communicate, Communicate, Communicate – Most companies have some competitive – and even leading – policies and benefits for working Moms. That’s great! But only if they know about them. Make sure you actively communicate what you offer, and when you make changes. And not just with new hires. For instance, I scheduled meetings with Moms on my team before they went on maternity leave to wish them well, explain how to change their insurance and other benefits and to answer questions. You can also include updates and infographics in your newsletters and websites to remind employees of what’s available to them.
- Facilitate Peer Mentoring Programs – Working Moms have tremendous tips and techniques for navigating work and family life. Encouraging them to connect to share experience and intel benefits them and your organization well. Want advice on questions to ask pediatricians? Check. Counsel on how to find the best childcare? Top area tutors? Simple, fast-to-the-table dinner recipes? Check, check, and check again. Working Moms will seek this information anyway. Making it easy for them to do that shows your organization cares.
- Support Staggered Returns / Re-Entry to Work – When Moms return to the workplace, a tiered re-acclamation can be crucial to productivity in the first few weeks and months. At work, and at home! A soft return, similar to a soft restaurant opening, allows Moms to reacclimate, catch up and find a new balance. Some organizations encourage Moms to return for one day the first week, two days the second week, etc. until they resume their normal work schedule. For Moms in leadership positions, companies can support them by minimizing new requests during their re-acclamation period. This deliberate re-entry approach pays big dividends in terms of work productivity and retention. And that can pay off – Gallup cites the cost of replacing an employee can range from one-half to two times her annual salary.
A Competitive Advantage
Supporting working Moms is good for them, and for society. But it’s also good for business. Numerous studies confirm the competitive advantage earned by organizations that attract, develop and retain women. For example, the International Labor Organization reports that companies with gender inclusive cultures and policies increase profitability and productivity by 62.6 percent and creativity, innovation and openness by 59.1 percent.
Another benefit working Moms bring companies is customer representation, relationships and insights. The American Consumer Council cites women as the leading consumer group in several key categories. For example, women account for up to 80 percent of purchases of groceries, gas, vacation planning and on-line shopping. Tapping into their buying preferences and habits can improve revenue.
As a corporate executive… and a working Mom… I recommend you explore these steps to create a win-win for your employees who are Mothers. And for your business.
Written by Stella Romanov.
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