Women aren't getting as many career development opportunities
According to research from EdAssist by Bright Horizons, women aren't as able to take advantage of career education opportunities as their male colleagues.
According to research from EdAssist by Bright Horizons, despite a pervasive interest in continued learning and the fact that they hold 56% of college degrees, women are struggling to take advantage of education opportunities, with nearly two-thirds (61%) saying they have not been able to participate in an education program in the past five years, while only 51% of men report the same, ultimately hindering their upward mobility in a company. Women are more likely (51%) than their male counterparts (44%) to say employers are not good at motivating workers to seek out education opportunities. Further, women are much more likely than men to say that they experience affordability barriers.
The picture clearly illustrates that women need more access to opportunities and investment in education is going to be essential for them if they are to have a role in the future workforce. Employer-provided education and tuition assistance benefits will provide opportunities to female employees that will propel them into the STEM-related roles of the future where they are currently underrepresented, like data science, software development, and engineering in which women hold just 36% of degree sand only make up 25% of the STEM workforce.
So, what can companies do to level the playing field and give women equal access to development and career advancement opportunities as men? Organizations can take action by:
- Removing cost barriers: Women have reported financial barriers as one of the most significant barriers to participation in education programs. Employers can remove the need to pay upfront by paying the school directly. Combining this with lower-cost education programs will open up opportunities for more employees to participate.
- Offering short, non-degree options to remove time constraints: Providing a variety of programs for employees to choose from – such as certificates, boot camps, and professional certifications – will be key to the educational success of employees strapped for time.
- Providing student loan support: Support for student loans is also worth considering, as female student borrowers have an average debt that is 9.6% higher than their male peers one year after graduation, which may prevent them from pursuing additional education.
- Including additional support benefits to help women progress: If an employee has children, for instance, and is already balancing work and family, offering a child care benefit would help remove a major barrier to completing a program.
It’s widely known that diverse companies perform better, hire better talent, have more engaged employees, and retain workers better than companies that do not focus on diversity and inclusion. As we celebrate National Women’s History month, let’s call on employers to ensure women have a seat at the table and work to build a culture that advances all women. In a tight labor market, it is critical for businesses to invest in bringing women back to workforce by giving them with the same access to opportunities as their male counterparts. And, for companies that do, they will find themselves leading the way for the future of work.