Skills4Good Logo

Matching Talent with Purpose

  • How to Stop Women from Leaving Your Workplace

How to Stop Women from Leaving Your Workplace

By Josephine Victoria Yam, J.D., LLM.

2019 March 26

“We are so focused on fixing the leaky pipeline of senior female leaders in our company, ” said the HR Head of a multinational company to me at a recent meeting. “Our company’s talent recruitment efforts are working because we have gender parity at the entry and mid-levels. But as you go higher up the ladder, you will notice that the number of women suddenly declines.”

This is a common refrain we hear all the time. But what gives?

According to a study by the International Consortium for Executive Development Research (ICEDR), HR leaders believe that women leave the workplace because of family demands or lack of workplace flexibility.

But when women were asked why they left, they provided a totally different answer. The reason was neither motherhood nor flexibility. Surprise! It was compensation. Yup, you read it right. Fair compensation (or the lack thereof) is the primary reason that influence women to leave their employers.

In a Harvard Business Review article, author Christie Arscott noted that women actually care about pay. In fact, it’s the top reason why they leave a company. They find a higher paying job elsewhere. This happens when women realize that they're paid a lower salary than their male peers for the very same job.

The reasons why women are paid a lower salary are well-documented. In her New York Times article author Tara Seigel Bernard named the usual suspects that cause the yawning pay gap:

 
Women are hired at lower salaries level than their male peers because they’re less likely to work the longest hours.
Lorem ipsum dolor sit amet, sapien platea morbi dolor lacus nunc, nunc ullamcorper. Felis aliquet egestas vitae, nibh ante quis quis dolor sed mauris. Erat lectus sem ut lobortis, adipiscing ligula eleifend, sodales fringilla mattis dui nullam. Ac massa aliquet.
 
Women get lower pay because they sometimes take more leaves of absence or reduced work schedules due to family obligations.
Lorem ipsum dolor sit amet, sapien platea morbi dolor lacus nunc, nunc ullamcorper. Felis aliquet egestas vitae, nibh ante quis quis dolor sed mauris. Erat lectus sem ut lobortis, adipiscing ligula eleifend, sodales fringilla mattis dui nullam. Ac massa aliquet.
 
Women are less inclined to ask for a raise because they’re less likeable when they do so.
Lorem ipsum dolor sit amet, sapien platea morbi dolor lacus nunc, nunc ullamcorper. Felis aliquet egestas vitae, nibh ante quis quis dolor sed mauris. Erat lectus sem ut lobortis, adipiscing ligula eleifend, sodales fringilla mattis dui nullam. Ac massa aliquet.

So what can you do to stop women from leaving your workplace? Here are three suggestions:

 
Consider pay and compensation fairness as part of your company’s talent retention strategies. Don’t assume that the only way to keep female talent is to give them flexible hours or work-life balance.
Lorem ipsum dolor sit amet, sapien platea morbi dolor lacus nunc, nunc ullamcorper. Felis aliquet egestas vitae, nibh ante quis quis dolor sed mauris. Erat lectus sem ut lobortis, adipiscing ligula eleifend, sodales fringilla mattis dui nullam. Ac massa aliquet.
 
Publish everyone’s pay. A study noted that when employers make salaries transparent, the gender pay gap disappears.
Lorem ipsum dolor sit amet, sapien platea morbi dolor lacus nunc, nunc ullamcorper. Felis aliquet egestas vitae, nibh ante quis quis dolor sed mauris. Erat lectus sem ut lobortis, adipiscing ligula eleifend, sodales fringilla mattis dui nullam. Ac massa aliquet.
 
Teach women how to negotiate. According to Linda Babcock, a Carnegie Mellon University professor, only 12.5% of women ask for more money when they receive a job offer. Compare that to 51.5 % of men who do. Isn't that sad?
Lorem ipsum dolor sit amet, sapien platea morbi dolor lacus nunc, nunc ullamcorper. Felis aliquet egestas vitae, nibh ante quis quis dolor sed mauris. Erat lectus sem ut lobortis, adipiscing ligula eleifend, sodales fringilla mattis dui nullam. Ac massa aliquet.

By ensuring fair compensation for all employees, your company can fix the leaky pipeline of senior female leaders. And in doing so, it moves closer to eventually winning the fierce war for top talent.

Skills4Good. Logo.

Matching Talent with Purpose

RBC Top 25 Awards Winner
RIC Centre Logo

Skills4Good is a RIC Centre Incubator Tenant

The Research Innovation Commercialization Centre is one of the Regional Innovation Centres of Ontario’s innovation ecosystem. It’s part of the Ontario Network of Entrepreneurs (ONE) to help Ontario technology entrepreneurs compete and win in the global marketplace.

+1-866-5033320

s4gemail

120 Adelaide Street West, Suite 2500
Toronto, Ontario M5H 1T1 Canada

Stay In Touch

       

Privacy Statement / Terms of Use
© 2019. Skills4Good / Building Breakthrough Boards Corp.