Empowering Women in the Workforce: The Changes We Need Now
The landscape for women in the workforce is evolving, and it's time to take action. Reshma Saujani shares insights on how we can adapt.
As we honor Women’s History Month this March, many are reflecting on the uncertainties surrounding women's roles in the workplace. The pandemic drastically reshaped our circumstances — women's unemployment peaked at nearly 15%, leading to a staggering loss of over $800 billion in wages. Recently, a record number of women exited the workforce during the "Great Resignation," bringing participation rates to their lowest since 1988.
We could spend hours analyzing the causes of this shift — many women left due to job loss or childcare demands, while others voluntarily sought roles that promised better pay and flexibility. With so much at play, we need to explore not just our past but also our future. What do women require now in 2022 to re-enter the workforce and cultivate rewarding careers?
Joining us for this conversation is Reshma Saujani, the founder of Girls Who Code and the Marshall Plan for Moms. Reshma has dedicated over a decade to advocating for women's and girls' economic empowerment, striving to close the gender gap in tech, and promoting policies to help mothers affected by the pandemic. She’s the author of the bestseller “Brave, Not Perfect,” and her latest work, “Pay Up: The Future of Women and Work (and Why It’s Different Than You Think),” just released this week.
Tune in as Reshma and I discuss why the future of women and work is indeed different than we might expect. She has both encouraging and troubling news to share. We delve into her initiatives and the importance of increasing women's representation in STEM fields. We also examine her shift to a broader focus on women's work issues. Reshma explains how her new book aims to “transform the narrative of corporate feminism” and the reasons behind this essential change.
In her book, Reshma advocates not just for breaking the glass ceiling but for reconstructing the very foundations of work, emphasizing that workplaces “weren’t designed with women in mind.” She helps us understand the current trajectory and the impact of the Great Resignation on women, shedding light on why so many are stepping back from their jobs.
We also address how to implement changes at work when feelings of dissatisfaction arise. Health experts recommend women work no more than thirty-four hours weekly, yet 66% of American women exceed that, often working over 40 hours. Reshma provides advice on discussing workload concerns with supervisors and securing more flexibility. She also shares strategies for those feeling sidelined or fatigued at the top of their careers, with limited advancement options.
Childcare is another crucial topic. A study by the New York Times found that 70% of working women take on the bulk of childcare responsibilities, with women being ten times more likely than men to take leave for a sick child and five times more likely to accompany a sick child to appointments. With such statistics, how can women hope to ascend the career ladder at the same pace as their male counterparts? Reshma advocates for leveling the playing field once and for all.
In our Mailbag segment, we discuss annuities and the importance of wills and trusts. In Thrive, we cover the top financial scams of 2022 and tips to steer clear of them.