K
Kathleen Martin
Guest
Women are sending a message and they are sending it with their feet. In 2020 alone, 2.5 million women chose to leave the workforce, on top of the 5.4 million women that lost their jobs during the pandemic. The stats are heartbreaking for many of us who were applauding the fact that women were participating in the workforce in record numbers just prior to the pandemic. Even if women still were not earning as much as men, the future seemed optimistic.
So, what is going to bring them back? We know childcare, flexible work schedules, and the ability to work from home are top of mind for working women. But in addition to these benefits, employers also need to focus on education, which takes the form of career planning, investments in learning and development, and customized training for the most lucrative and in-demand jobs of the future.
If this seems like a daunting task, there is one fool-proof place to start: Employer-provided education and tuition assistance benefits. These kinds of offerings provide opportunities for female employees that will propel them into the roles of the future where they are currently underrepresented, like data science, software development, and engineering. Women hold 56% of college degrees overall, but just 36% of science, technology, engineering, and math (STEM) degrees, and compose only 25% of the STEM workforce, according to the World Economic Forum.
Investment in education is going to be essential for women if they are to have a role in the future workforce. For one thing, research has shown that the future of automation and advances in digital technology will disproportionately affect women, a segment of the workforce that is overrepresented in roles that are highly vulnerable to automation, including clerical roles like back office and administrative staff, customer service and call center jobs, and frontline service jobs.
The International Monetary Fund (IMF) projects that 11% of jobs currently held by women (a higher percentage than jobs held by men) are at risk of elimination due to artificial intelligence (AI) and other digital technologies.
Without a doubt, women are exceptionally vital to our workforce. History tells us that when more women participate in the workforce, economies tend to grow. For organizations, recruiting and retaining female employees is not just about contributing to a diverse and equitable workforce, but building a workforce that reflects the fabric of our country and setting companies up to compete on a global level.
So, what can organizations do to promote the women in their existing workforce into high-paying careers and roles that will allow them continued success in the future? Below are four actionable ways to ensure female employees have the same access to education opportunities that will help grow their careers as men:
So, what is going to bring them back? We know childcare, flexible work schedules, and the ability to work from home are top of mind for working women. But in addition to these benefits, employers also need to focus on education, which takes the form of career planning, investments in learning and development, and customized training for the most lucrative and in-demand jobs of the future.
If this seems like a daunting task, there is one fool-proof place to start: Employer-provided education and tuition assistance benefits. These kinds of offerings provide opportunities for female employees that will propel them into the roles of the future where they are currently underrepresented, like data science, software development, and engineering. Women hold 56% of college degrees overall, but just 36% of science, technology, engineering, and math (STEM) degrees, and compose only 25% of the STEM workforce, according to the World Economic Forum.
Investment in education is going to be essential for women if they are to have a role in the future workforce. For one thing, research has shown that the future of automation and advances in digital technology will disproportionately affect women, a segment of the workforce that is overrepresented in roles that are highly vulnerable to automation, including clerical roles like back office and administrative staff, customer service and call center jobs, and frontline service jobs.
The International Monetary Fund (IMF) projects that 11% of jobs currently held by women (a higher percentage than jobs held by men) are at risk of elimination due to artificial intelligence (AI) and other digital technologies.
Without a doubt, women are exceptionally vital to our workforce. History tells us that when more women participate in the workforce, economies tend to grow. For organizations, recruiting and retaining female employees is not just about contributing to a diverse and equitable workforce, but building a workforce that reflects the fabric of our country and setting companies up to compete on a global level.
So, what can organizations do to promote the women in their existing workforce into high-paying careers and roles that will allow them continued success in the future? Below are four actionable ways to ensure female employees have the same access to education opportunities that will help grow their careers as men:
- Remove cost barriers: According to EdAssisst Solution’s recent study of working adults, women have reported financial barriers as one of the most significant barriers to participation in education programs. Employers can help relieve employees of cost concerns by removing the need to pay upfront by paying the school directly, and perhaps even covering some or all of the program costs. T-Mobile, for example, covers 100% of tuition, fees, and books for employees, in addition to pre-paying tuition upfront, leaving employees with no out-of-pocket costs. As a result, the company has seen a 92% retention rate for education program users.
- Offer short, non-degree options to remove time constraints: Providing a variety of programs for employees to choose from—such as boot camps, and professional certifications—will be key to the educational success of employees strapped for time. Raytheon Technologies recently expanded its education benefits program to include non-degree offerings for non-credit bearing certificates, certifications and Massive Open Online Courses (MOOCs). The program has proven successful among employees, with a 6% utilization rate in the U.S. and Canada across the organization.
