Do you have the benefits women in the workplace want?

During the pandemic, 54 million women left the workforce globally.¹ A report from McKinsey & Company, surveying over 40,000 employers and 12 million people, revealed that women leaders are switching their jobs at rates higher than ever seen before.²

Here we explore why women leaders are moving on and how your organization can better support their health — and the health of the next generation of women leaders in the coming year. This includes a focus on benefits and what these packages can offer to women in the workplace.

Prioritize company-wide inclusivity and well-being

The McKinsey study finds, 43% of women leaders are burned out compared to only 31% of men at the same level.² This is partly due to the extra work women typically take on that goes unrecognized, such as supporting well-being and fostering diversity, equity and inclusion (DEI) efforts within their organizations.³

Build benefits with multigenerational families in mind

For women, their professional job is one of many responsibilities they might have in addition to taking care of their home, family and even caring for elderly parents. According to the Family Caregiving Alliance, more than 75% of caregivers are women who are tasked with splitting their energy and focus between two full-time responsibilities.⁴

Having health benefits that support individual and family health can help minimize the impact of caring for multiple generations within their family. Employers can consider including benefits like child- and elder-care reimbursements and concierge caregiver support services like those offered by Wellthy.

Champion flexible behavioral health support

Having flexible resources available to your workforce is meaningful. Work with your health benefits carrier to ensure that your organization’s mental health support is comprehensive and includes virtual resources that provide around-the-clock access to licensed health professionals. There are additional tech-enabled self-service support resources that can be added to your existing coverage to ensure that mental well-being can be prioritized with personal and professional responsibilities.

Offer support for all life stages

Family planning, pregnancy and postpartum support are often core components of health benefits coverage. However, employers may wish to consider the needs of a female workforce at all life stages, and menopause support can also be part of the conversation with your health benefits carrier. Ask your carrier about the types of resources that might be available to individuals in this life stage.

As employers think about family planning, pregnancy and postpartum support, benefits and resources for menopause can be part of the conversation. Consider menopause mentoring, digital tools that help women navigate care and treatment, mental health support, flexible schedules and even career coaching to support your female employees as they navigate these stages of life.

Acknowledge subconscious biases and systemic barriers

The “motherhood penalty,” a term coined by sociologists, refers to the disadvantages mothers can experience when returning to the workforce — from having trouble getting hired or moving up in their careers to not getting paid the same as counterparts who aren’t moms.⁵ And the bias that working moms can’t keep up with both work and caregiving demands is partially to blame for why only fewer than 12% of C-suite leaders are women.²

Openly talking about the motherhood penalty is one way to help break subconscious stereotypes, especially during the hiring process — and — can be a great topic of discussion for any parent-focused colleague resource groups. Having career mobility plans and pay structures in place within an organization can also help to encourage career growth and pay equity for those currently working or returning from maternity leave.

Women leaders in the workplace are important to the success of any organization. Make it a priority to ensure women are heard and design your benefits package to address the flexibility and health care needs they’re looking for. It also makes for a welcoming and more inclusive workplace environment for all.

This article was written by Molly Toussant from BenefitsPro and was legally licensed through the DiveMarketplace by Industry Dive. Please direct all licensing questions to legal@industrydive.com.