Statistical highlights from the 2020 Women in the Workplace Report by McKinsey & Company and LeanIn.org.
Women in the Workplace and the Effects of Covid by Andrew Downing
In 2015, McKinsey & Company and LeanIn.Org launched the annual Women in the Workplace study. For the last five years Women in the Workplace has tracked advances for women, but the 2020 report primarily focused on the effects of the pandemic and what it means for the future. Below are some of the highlights (you can read the 60 page report at womenintheworkplace.com):
1 in 4 women are contemplating downshifting their careers or leaving the workforce.
Prior to Covid-19 men and women left the workplace at similar rates, but in 2020, women left the workplace at higher rates than men, erasing gains made during previous years and further reducing the number of women that will continue to move up the corporate ladder. The workforce pipeline is the future, and 2020 was a huge setback.
The top six challenges during Covid are: (1) Anxiety over layoffs or furloughs (2) Burnout (3) Mental health (4) Childcare and homeschooling responsibilities (5) Physical and mental health of loved ones (6) Financial insecurity.
LGBTQ+ women are almost twice as likely to cite mental health as one of their biggest challenges during Covid-19.
Lack of flexibility at work is the number one predictor for leaving the workplace or reducing hours.
Although many companies have adapted to allow work from home, less than a third of companies have adjusted their performance criteria to match the current environment, which means parents and caregivers are working harder than ever to meet pre-pandemic expectations.
More than 50% of companies have increased paid leave and about a third have added stipends to help with extra costs.
Mothers are more than three times as likely as fathers to be responsible for most of the housework and caregiving, which equates to about 20 hours of housework and childcare per week.
Childcare is one the top three concerns for 76% of mothers with children, compared to 54% of fathers.
13% of fathers say they are responsible for most of the household labor, compared to 39% of mothers (72% of fathers and 44% of mothers say the work is shared equally).
Latina mothers are 1.6 times more likely than White mothers to be responsible for all childcare and housework, while Black mothers are twice as likely.