COVID-19 has hit everyone hard—but women have absorbed a particularly painful blow. Globally, women’s job losses due to COVID-19 are 1.8 times greater than men’s. And for those female leaders who have retained their jobs, many are experiencing extreme burnout, working three full-time jobs between their employers, educating children at home, and taking on a disproportionate share of household responsibilities. Men are also feeling the strain, with some opting to spend more time with their families and split the household responsibilities more equally. However, if women continue to exit the workforce at these rates—whether by choice or by job loss—the impact of a “she-cession” will be felt for years to come.
To find out what men and women can do to reverse the negative effects of a she-cession and support the next generation of female leaders, we surveyed 300 C-suite leaders from midsize and large companies worldwide between July-August 2021. What follows are our key findings.
COVID kicked remote work into high gear, and it helped bridge the long-standing gap between work/life balance for many.
Burnout and mental health issues are plaguing all leaders as the pandemic wears on.
While there were notable benefits to remote work, most leaders expect women to return to work at the same rates as men.