Women are exiting their current positions in greater numbers, and primary among their reasons is inadequate compensation. According to a survey conducted by Deloitte, which collected insights from 5,000 women across 10 countries, a considerable 16% of respondents stated they had parted ways with their employers over the past year on account of non-competitive salaries and benefits. This statistic highlights a worrying trend for businesses intent on retaining a skilled and diverse workforce.
Beyond pay concerns, the survey unearthed other significant factors contributing to job dissatisfaction. Notably, instances of workplace bullying or harassment have seen an uptick, with 16% of participants reporting such issues, a 5% increase from the previous year. The ability to balance work with personal life, the desire for more flexible working conditions, and limited opportunities for career progression emerged as other critical considerations influencing the decision to leave.
Organizational Changes Needed
The current job landscape shows a trend where women typically stick with an employer for just one to two years, and seldom beyond five. Factors like a supportive workplace, career growth prospects, and work-life harmony are key motivators for those who choose to stay longer.
Yet, a significant 75% of women feel hindered in reaching senior roles due to a workplace culture that doesn’t support them, unequal pay compared to men, and a lack of career advancement opportunities. Moreover, confidence in leadership diversity is low, with only 26% seeing gender diversity, and a mere 11% recognizing their company’s genuine efforts toward gender equality.
For businesses to keep and support women in their workforce, especially in leadership, they must actively foster an inclusive environment. Without real change toward inclusiveness, companies will continue to struggle with gender diversity at the top.