NGUYET CAT (According to Forbes)
According to a new study published in “Women in the Workplace,” female leaders are leaving American companies at the highest rate in years. This is what experts call the “Great Breakup” of a new trend in which female bosses are more likely to change jobs to meet their own needs.
Many female leaders are willing to change jobs in search of better opportunities.
“Women in the Workplace” is an annual report by global management consulting firm McKinsey & Company and LeanIn.Org, a nonprofit organization dedicated to advancing women. The report emphasizes that ambitious female leaders are not leaving the workforce, but rather moving jobs to find better opportunities elsewhere, some even changing industries or starting their own businesses. In addition to reassessing their values and priorities, economic pressures and growing personal demands are also driving them to quit or change jobs.
A Pew Research Center analysis found that in 2022, women will earn just 82% of what men do. One explanation is that while women are increasingly represented in the C-suite, they remain overrepresented in lower-paying jobs in the workforce. Gender discrimination and gender stereotypes also contribute to wage inequality. So it’s no surprise that more women are choosing to start their own businesses. Entrepreneurship comes with risks, but it has the potential to yield greater rewards over time.
Protecting their health is also a reason why female leaders are changing jobs. Work-related stress is taking a toll on them both physically and mentally. According to a 2022 report by accounting firm Deloitte, burnout among female workers is at dangerously high levels. The situation is so severe that 53% of those surveyed said their stress levels were higher than a year ago. As a result, nearly 40% of women looking for a new job cited burnout as the main reason for leaving.
Another reason female leaders change jobs is because of gender- or racial-based aggression, sexist language, or disrespectful and sometimes toxic comments from colleagues. For example, a female employee may not get a response when she shares an idea in a meeting, but a male colleague may receive praise for repeating the same idea. According to global consulting firm McKinsey, female leaders are more likely than men to be rated lower in management roles by their peers, and are twice as likely to be mistaken for subordinates as their male counterparts.
In addition, women also have a harder time getting promoted. According to a study from MIT Sloan, the Massachusetts Institute of Technology's School of Management, although women receive higher performance ratings than their male counterparts, they receive 8.3% lower potential ratings than men.
To retain female leaders, companies or organizations need to offer flexible options – like remote/hybrid work, flexible hours, and four-day work weeks. In fact, a McKinsey survey found that nearly half of female leaders said flexibility was one of their top three considerations when changing jobs, but only 33% said their employer offered flexible work policies.
If companies want to retain talent, they need to create an equal work environment where women can develop themselves. Otherwise, female leaders will not hesitate to leave for another company that can meet their needs.
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