Reversing the “She-cession”:

As COVID-19 appeared to recede, it ushered in “The Great Resignation,” when many employees voluntarily left their jobs. Some sought jobs they were more passionate about or had more flexibility. Others found they were happier not working at all. The resignation rates are higher among women than men, with women more likely to leave the workforce and men more likely to move to new jobs.

Now with the Delta variant on the rise and many workplaces continuing to cautiously re-open, we’re in a new phase of the pandemic. It may not have an official name yet, but perhaps it’s the “Spaghetti Era,” where organizations try different ways of working and see what sticks. Hybrid work models, increased remote job opportunities, and new platforms for remaining connected while physically distant, are all in experiment mode. To find out how leaders—specifically women—are adapting to this new phase, we surveyed 300 C-suite leaders from midsize and large companies worldwide between July-August 2021.

What follows are our key findings.

One leader notes the importance of individual actions: “Start by ensuring women have a voice at the table. If a woman has a great idea, champion her and make sure she gets the recognition instead of letting someone else take the credit.” Another focused on the need for career paths and development: “I work with our HR management team to identify rising female talent throughout the organization, track their career paths and provide necessary training to develop their skills further.”

However, for all the work that is being done, there remains a gap between male and female leaders. Compared to men at the same level, women managers are taking more action to support their teams, from helping employees manage their workloads to checking in regularly on their overall well-being, according to the Women in the Workplace 2021 study.

While bridging the work/life balance gap has been a major relief to many women, it can come at the cost of career advancement. 

To mitigate potential missed opportunities and increase visibility for employees working remotely, leaders in our survey suggest increasing communication across departments (47%), volunteering for or owning projects (46%) and creating more opportunities for collaboration (45%). 

Additionally, many companies view remote work as temporary, with 84 percent of C-suite professionals expecting female leaders to return to the workplace at the same rates as men, despite any benefits realized from remote work. Business leaders justify this viewpoint by saying the same rules should apply to everyone (46%) and that having female leaders back in the office is good for both business and staff (37%). But is it even possible to return to “normal” at work? Flexible work and hybrid working models have changed the definition of work, and what has worked in the past may not lead us to a better future.
 

Burnout and mental health issues are plaguing all leaders as the pandemic wears on, and women are particularly struggling to manage personal and professional responsibilities. Our study found that 60 percent of C-suite leaders suffered from burnout during the pandemic, and of that number, 69 percent say pandemic-related stress was a direct contributor.

Another 86 percent say they had a change in their personal responsibilities during the pandemic, ranging from caregiving to increased household responsibilities – and not just women. Men were more likely to say their personal responsibilities increased (72%) compared to women (63%). However, the Women in the Workplace report showed that mothers were more likely than fathers to worry that their performance is being judged negatively due to taking advantage of options that make it easier to balance work and life.

High levels of burnout may drive women to scale back at work or to leave the workforce entirely for a period of time—1 in 3 women are considering these options, according to that same study. While women should do what is best for their unique situations, if large numbers of female leaders exit the workforce and do not return, there is the potential for the gender pay gap to widen further. According to the Center for American Progress, if 3.2 percent of mothers with a child under the age of 6 and 3.5 percent of mothers with a child age 6 to 17 leave the labor force, the result would be an estimated $29.4 billion in foregone wages. In further keeping with their findings, if mothers with a child under the age of 6 reduce full-time hours by 4.5 percent and part-time hours by 7.2 percent, the result would be a $16.4 billion pay cut to families.

With leaders stretched thin, many female employees may find themselves with little support beyond verbal encouragement and a prod to return to the office as soon as they are able.