With the release of the 2022 Women in the Workplace study by McKinsey & Company came data that will play a key role in the shifting of workplace practices.
The Great Breakup
Women want more out of life than just the grind of work. They crave recognition, advancement, and most importantly, balance.
And they’re leaving companies in record numbers to get it.
In the study, they showed that for every woman promoted to a director position, two director-level women resigned.
How can companies keep up with their leadership leaving twice as fast as they can replace them? What can they do to retain these women? What do women want?
Opportunities For Advancement
It’s 2023 and this isn’t Mad Men. Women are just as ambitious as men and want the opportunity to prove it.
They want chances to develop, take on meaningful projects, and be challenged.
Many women do more than their male counterparts to support employee well-being and diversity, equity, and inclusion (DEI) measures. In doing so, they’re spreading themselves thin, burning out, and then not being recognized for the extra effort in reviews. The lack of recognition often results in a lack of advancement.
The data shows this is most true for women under 30–the next generation of women leaders. If companies don’t make a shift, they will not only lose their current women leaders but the future ones as well.
Flexible Work Options
The work-from-home and hybrid working models really started to become popular in 2020. Women are seeing the high value in getting their work done and performing well while still having more room in their personal lives.
Simply put–we want more time for things that are improving our quality of life.
Whether it’s fully remote, in the office, or somewhere in between, women want a choice.
Better Work Culture
Not only do women want an improved work culture, but they’re also starting to demand it.
They place more priority on employee well-being and DEI than processes and quotas.
Many companies have made this shift, but there are even more who are slow to make the necessary changes. If this trend keeps going, they won’t have a choice. Progress is slow, but it is happening!
They may talk the talk, but women want to work at companies that put their money where their mouth is.
What Are Your Priorities?
Do you resonate with the three qualities discussed? What is most important to you? Where and how are you different?
Take some time to reflect on your current work situation and decide what you want it to look like in 1, 5, and 10 years.
Once you know what you want, go after it.
Being a woman in the workplace comes with its challenges, but we are smart, resilient, and capable of great things.
You can find out more about the McKinsey study on my full podcast episode here!
Make sure to check out my free download, Career Energy Boost: 5 Strategies to Add Life and Vibrancy to Your Career. In this guide, I will walk you through creating a career strategy you can get excited about. Check it out!
Episode 37 – Career Advancement Strategies: How To Breakthrough To The Next Level In Your Career
Episode 36 – Intuition As A Guide: Shifting Careers, Embracing Change, And Thriving Beyond Burnout
Episode 35 – Courage To Shine: Embracing Authenticity, Taking Risks, & Challenging Corporate Norms
Episode 34 -Standing Out In Your Career: Writing Your Path To Success With Book Coach Candice Davis
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