These days, organizations have been focusing on creating employee diversity and preventing gender biases. One of the effective ways to foster a diverse and inclusive work environment is by including more women staff, growing their talent, and retaining them in the organization. While companies have changed their work policies during the pandemic and have adapted to remote work, it has become difficult for women to cope. They find it challenging to adjust to the new work-from-home policies, keep the children engaged during work hours, and care for other family members. Due to the intense pressure, many working women quit their jobs.
According to the Bureau of Labor Statistics, only half of the U.S. workforce is women. However, this figure is expected to grow over the coming years. Being known as skilled and ardent employees, focusing on retaining these highly proficient women in talent management is a great business practice.
How To Retain Female Talent?
It is important for organizations to keep the female employees feel confident, comfortable, and stable in their current position. They must invest in creating workplaces where they can thrive and grow.
Flexible Working
The lack of flexibility is the biggest deterrent in a woman’s career. Ensuring to provide flexibility can help her balance their responsibilities like children caregiving, adult family members’ obligations, and other personal commitments. Offering flexible work hours scheduling, all-day remote work options, part-time work options, etc., can attract and retain women talent. Employers can offer temporary jobs to women, fill potential gaps, save costs, adjust temporary workloads, build connections with them, and explore new business opportunities.
Promote Work-Life Balance
Employers must encourage women to prioritize their personal life too with work. As per the report’ Women in the Workforce 2022′ by McKinsey, women were found to be more burned out after the pandemic, and their burnout is higher compared to men. Due to this, the women have started downshifting their careers and quitting their jobs. To address this burnout, creating an improved work-life balance is necessary. The measures may include paid time off, organizing stress management workshops for them, corporate programs like self-care, etc. This will improve employee productivity, reduce turnover rates, and better employees’ health.
Skill Enhancement Program
It’s no secret that few women reach top leadership roles. Women’s main barriers to advancement may be a lack of opportunities and skills. Employers should consider investing in reskilling and professional development programs to create more growth opportunities for women. This talent management strategy will help women learn new and advanced skills imperative for career growth. It is a must for organizations to conduct skill development programs for women and experience the benefits of job satisfaction and high turnover rates. The employees will feel obliged, get exposure, and can confidently move towards their career progression.
Mentorship Opportunities
A good mentor can boost confidence, enhance trust, advance your knowledge, and increase productivity. One of the best strategies to retain talented female staff, mentoring helps women develop personal and professional skills. Mentorship can be offered as an in-house session, in an informal setting, or in a formal partnership.
Encourage Open Communication
To make the women’s staff comfortable, having open communication is vital. They should be given opportunities to speak up, express their concerns, suggest changes in the work environment, and give better ideas to tackle the challenges. Open communication allows women to share their unique perspectives, improve organizational culture, increase job satisfaction, and foster a healthier working environment.
Equitable Package
The world has been talking about women being paid less than their male counterparts. Offering equal pay is one step the organizations take in addressing the wage gap and improving women’s retention. Even when women have equal years of experience, industry knowledge, work performance, etc. They are less paid than men. Consider offering equity-based awards to women, like stock grants, rewards in kinds, awards, etc.
Offering Leadership Roles
Women who are in leadership roles can develop their leadership skills, stay longer in the company, and provide leadership opportunities to other women in the company, too. Women leading the projects is a message to others that the company believes in gender equality, diversity, and female inclusion.
Wrapping up
Women are significant contributors to their organizations. The above-mentioned were the most popular strategies the organizations could resort to for creating a more inclusive and supportive workplace for women. These can address their challenges, make them comfortable, and enhance their retention rate.
