TomorrowMakers

The representation and number of women in corporate America went in the right direction before Covid.

COVID-19’s impact on women’s employment

The pandemic has deeply affected women worldwide. It has increased inequalities at home and at work. Women were making progress in the workplace before the pandemic. The representation and number of women in corporate America went in the right direction before Covid. Senior-Vice-President positions were filled by 28% of women between January 2015 and December 2019. The number increased from 23% previously. The number of women in the C-suite rose from 17% to 21%. However, even though the numbers were growing, women were still underrepresented. Women of color face even more problems. 

Read: How to improve financial security for women?

Men's Attrition Rate Higher 

Surveys showed men were more likely to leave their work than women. The attrition rate was higher for men compared to women. However, the pandemic affected the women significantly and hence their employment. 1 out of 4 women considers leaving their work compared to 1 in 5 men. While the pandemic has affected all women, certain groups of women have been affected more. These groups are Black women, senior management, and working mothers. Women who had children under 10 years were severely impacted. Women in this group were 10% more likely to leave their work than men. Also, women in a working-couple situation with children reported having more time with household responsibilities since Covid. 

More Pressure On Women

Women in the Workplace 2020 showed that women felt exhausted, under pressure, and burned out more than men, even though companies tried supporting their employees during the pandemic. Women report facing more challenges in emerging economies since the pandemic than in developed countries. 

Read: Women's participation in different sectors and influencing factors 

A study showed that women's jobs were twice as vulnerable as men's. In a scenario where a gender-regressive "do nothing" prevailed, if we assume the effect of Covid remains unaddressed for women, the GDP globally would have been $1 trillion lower than what it would have been if both genders were equally affected by the pandemic. $13 trillion can still be added to the global GDP if steps are taken toward gender parity. The steps include investments in maternal health, education, financial inclusion, digital inclusion, family planning, and caring for the elderly. A few problems faced by women during or after the pandemic: 

  • Women feel burned out, under pressure, and exhausted compared to men. 
  • Lesser advancement opportunities
  • Stalled growth.
  • Physical and mental health concerns.

Women in the workplace

The pandemic has deeply affected women worldwide. It has increased inequalities at home and at work. Women were making progress in the workplace before the pandemic. The representation and number of women in corporate America went in the right direction before Covid. Senior-Vice-President positions were filled by 28% of women between January 2015 and December 2019. The number increased from 23% previously. The number of women in the C-suite rose from 17% to 21%. However, even though the numbers were growing, women were still underrepresented. Women of color face even more problems. 

Read: How to improve financial security for women?

Men's Attrition Rate Higher 

Surveys showed men were more likely to leave their work than women. The attrition rate was higher for men compared to women. However, the pandemic affected the women significantly and hence their employment. 1 out of 4 women considers leaving their work compared to 1 in 5 men. While the pandemic has affected all women, certain groups of women have been affected more. These groups are Black women, senior management, and working mothers. Women who had children under 10 years were severely impacted. Women in this group were 10% more likely to leave their work than men. Also, women in a working-couple situation with children reported having more time with household responsibilities since Covid. 

More Pressure On Women

Women in the Workplace 2020 showed that women felt exhausted, under pressure, and burned out more than men, even though companies tried supporting their employees during the pandemic. Women report facing more challenges in emerging economies since the pandemic than in developed countries. 

Read: Women's participation in different sectors and influencing factors 

A study showed that women's jobs were twice as vulnerable as men's. In a scenario where a gender-regressive "do nothing" prevailed, if we assume the effect of Covid remains unaddressed for women, the GDP globally would have been $1 trillion lower than what it would have been if both genders were equally affected by the pandemic. $13 trillion can still be added to the global GDP if steps are taken toward gender parity. The steps include investments in maternal health, education, financial inclusion, digital inclusion, family planning, and caring for the elderly. A few problems faced by women during or after the pandemic: 

  • Women feel burned out, under pressure, and exhausted compared to men. 
  • Lesser advancement opportunities
  • Stalled growth.
  • Physical and mental health concerns.

Women in the workplace