Women say they are less likely than men to look for a new job in 2024. Here's why

• Business leaders are failing to address top concerns for female professionals.
• 40% of women in the workforce feel that there aren’t ample opportunities for growth in their jobs.
• Still, promotions and a competitive salary may not be enough to buy women out of a job that allows flexibility.

Women say they are less likely than men to look for a new job in 2024. Here’s why

While less women (60%) feel that their companies provide ample opportunities for career growth compared to men (74%), only a third are looking or plan to look for a new job this year.

The reason why they’re staying put? Workplace flexibility.

Just under half (45%) of women responding a recent survey by human resources consulting firm Robert Half say their current job offers a level of flexibility they are not willing to lose. Before the pandemic, flexibility was rarely considered this vital. However, these past four years have shown people that it’s possible to have it while maintaining a good career.

This rising demand for flexibility has resulted in debate on how businesses should adjust in continuing efforts to empower women in the workforce. Some companies are embracing and accommodating this shift, while others are encouraging employees to push through this period of “disengagement” to receive career benefits.

According to Randi Weitzman, executive director of technology at Robert Half, companies shouldn’t make women choose between the two. It is becoming increasingly conducive for female professionals to adopt a flexible working model, but the historical data analyzing gender dynamics in the workplace suggests they risk lower pay and stalled careers. To truly empower female employees, Weitzman said, businesses need to offer opportunities for both flexibility and career growth.

One way companies can do this is by authorizing office mandates with purpose. Of course, offering a hybrid work option isn’t groundbreaking, but Weitzman emphasizes how important it is for companies to understand when employees can be equally effective working from home as they are in person. She urges managers to consider whether working in person is necessary before requiring employees to come in.

The key with flexibility is that it doesn’t have to be a cookie-cutter approach and can vary by company. A method Weitzman swears by is windowed work, or employees working hours that best fit their schedules. Windowed work, for example, would allow a working mom to come in early, leave in time to pick up her kids from school, and log back on at home. By tailoring and evolving the idea of flexibility to fit their business models, businesses can create more productive environments while also making their employees feel valued.

Creating paths for career growth

When it comes to career growth, there are pressing issues regarding awareness, Weitzman said. Specifically, employers lack awareness of their female employees’ professional goals, preventing them from creating career paths for them. Weitzman believes it’s a manager’s duty to invest time in an employee’s success through structured performance reviews and making them aware of the opportunities available.

“Providing some way to help upskill whatever professional area that they [employees] need to help them get to the next level is a great way to give back to your employees,” Weitzman said. She recalled an employee who once came to her seeking to improve her presentation skills and executive presence. Weitzman was able to connect this employee with a professional coach and the result is that she now presents “better than me.”

Prioritizing fair pay

When asked to identify their biggest concerns for 2024, 68% of women from the survey said wider economic changes, while 57% said inadequate compensation increases.

The pay gap between women and men is a perpetual issue in the workforce that gets worse with age and is even worse for women of color. This disparity can have lasting effects on women’s financial security as it prevents them from building long-term equity by saving for retirement or engaging in other forms of saving.

Companies are not only responsible for researching, benchmarking, and adjusting salaries when needed, but they’re also responsible for creating a space that empowers women to initiate those conversations, Weitzman said.

She stressed the importance of employee resource groups for women and fostering peer-to-peer environments where women can lean on and mentor each other. “Companies need to allow that open-door safe place,” Weitzman said, “so people can go to their managers and say, ‘This is what I need, and if I can get that, I can stay here.'”

—Meilin Morefield, special to CNBC.com

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