A recent study conducted by Challenge Works, a global innovation think tank, has unveiled concerning insights regarding the retention of women employees in the workforce.
The research, released in conjunction with the ‘Pathways to Progress’ report, sheds light on the potential risks posed to women employees and the necessity for change in business practices. The report, supported by JPMorgan Chase, also provides recommendations to bridge the gap.
Worrisome Statistics and Concerns
Nearly 59 percent of employers have acknowledged that if current working practices persist, companies could inadvertently force women employees out of their roles. This revelation, uncovered by Challenge Works’ research, underscores the pressing need for transformative change within workplaces.
Furthermore, a staggering 71 percent of employers in forward-looking industries are apprehensive about the inadequate representation of individuals from low-income backgrounds within their workforce. This issue extends beyond the current workforce, as the report finds that 29 percent of working mothers from low-income backgrounds foresee having to abandon their jobs due to caregiving responsibilities in the future.
Rising Job Vacancies and the Pathways to Progress Report
Against the backdrop of a rising demand for talents in industries geared towards the future, such as technology and green sectors, the ‘Pathways to Progress’ report by Challenge Works highlights a glaring talent gap. The report indicates that there were approximately two million tech job vacancies between 2021 and 2022 alone. This report serves as a wake-up call for industries to adopt inclusive practices and embrace a diversified talent pool.
A Glimpse into the Barriers and Solutions
The study and report further delve into the barriers that hinder women from low-income backgrounds from accessing roles in forward-focused sectors. The research reveals that 66 percent of women from such backgrounds believe that flexible work arrangements are essential to make these industries accessible to them.
Key factors hindering women from low-income households include caregiving responsibilities, with 26 percent citing the need to care for children or elderly parents. Moreover, 25 percent of respondents can only work under flexible schedules, including part-time or remote work.
Interestingly, despite employers acknowledging the necessity of diverse teams (78%), many are slow to adapt their hiring practices to achieve this goal. Approximately 78 percent of employers from forward-looking sectors recognise the need to recruit from low-income backgrounds, yet their actions remain inconsistent.
Call for Change and Future Outlook
The study underscores the urgency of recalibrating outdated working expectations and practices. The impending Flexible Working Bill, which recently completed its final stage in the House of Lords, offers a glimmer of hope by introducing a smoother process for flexible work requests. However, the ‘Pathways to Progress’ report suggests a range of innovative solutions to create more accessible work environments for women from low-income backgrounds.
Some of the recommendations from the report include experimenting with flexible working practices, making job adverts more inclusive, collaborating with training providers, implementing industry-wide apprenticeship standards, and offering tech-enabled training courses.
A Holistic Approach for a Positive Future
Teodora Chis, a Researcher at Challenge Works and Lead Author of the report, emphasises the importance of addressing the multifaceted challenges faced by women from low-income backgrounds. She stresses that, alongside changing attitudes, policy reforms and innovative practices are crucial to overcoming these obstacles.
The findings of Challenge Works’ research and the ‘Pathways to Progress’ report resonate as a call to action for industries to embrace inclusivity and make strides towards a more diverse and equitable workforce. By doing so, they can not only tap into untapped talent but also contribute to a more inclusive and thriving economy for generations to come.
Amelia Brand is the Editor for HRreview, and host of the HR in Review podcast series. With a Master’s degree in Legal and Political Theory, her particular interests within HR include employment law, DE&I, and wellbeing within the workplace. Prior to working with HRreview, Amelia was Sub-Editor of a magazine, and Editor of the Environmental Justice Project at University College London, writing and overseeing articles into UCL’s weekly newsletter. Her previous academic work has focused on philosophy, politics and law, with a special focus on how artificial intelligence will feature in the future.
