Record numbers of workers left the workforce in 2020. Women accounted for 53% of the labor force exits. Getting workers back to work is important – not just for them as employees, but for you as employers. A gender-mixed team with a variety of backgrounds demonstrates your company’s commitment to diversity of thought and ideas. By being inclusive, your company will benefit by becoming a sought-after employer, enhancing your brand, and boosting your profits.
Tap Into an Educated Under-Utilized Talent Pool to Increase Women in the Workforce
More women than ever in the US have at least a bachelor’s degree-level education – 29.5 million women. But the workforce participation gap between men and women is staggering – only 47% of women, but 74% of men, participate in the labor force. If organizations responded to this statistic by creating more flexible, empathetic and supportive workplaces, this highly educated group looking for work would respond enthusiastically. Ultimately, leading to more women in the workforce.
Companies that seek employees from under-represented groups are 70% more likely to capture new markets than organizations that do not. Cash flows of diverse companies are 2.3 times higher as well. Inclusivity is not only good for business but also for the community. And, firms with women in director positions post higher annual profit margins. That statistic becomes even more pronounced with women in executive officer and board positions.
Put hiring process steps in place that don’t discriminate against gaps in employment. Hire for fundamental skills and potential for growth, not on requirements for new technology platform experience – which can be learned on the job. Nurture a culture where employees can achieve their potential, and your company can achieve new heights.
Companies That Consider Workers’ Best Interests Are Companies That Will Win
The best team members want to work for the best companies. Include protocols that encourage gender balance, not just for hiring but for promotions and performance reviews as well. Parents can be discriminated against in employment situations, even though parents are some of the most resilient and persevering workers. One in four working women considered downsizing or dropping out of their chosen career path in 2020. Find ways to reduce the burnout of employees who are parents and you’ll grow and retain employees who are 20 times more likely to stick around after parenthood. Increasing retention yields cost reductions, increased productivity, more experienced employees and company growth that Spot On Talent can help your company develop.
There is additional worker supply – and the smart companies who recognize and mine this ready-to-work talent pool will reap the rewards. Spot On Talent is specifically set up to identify and cultivate these potential candidates. We know how to find them, attract them, and match them to your company’s talent needs.