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

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

To join the CNBC Workforce Executive Council, apply at cnbccouncils.com/wec.

OTHER NEWS

15 minutes ago

‘Kalki 2898 AD’: Inside The Prabhas-Starring Sci-Fi Epic That Is One Of India’s Most Expensive Movies Of All Time

15 minutes ago

Black woman says Montreal police ‘humiliated’ her, told to scrape off car tints with coin

15 minutes ago

‘Heart-wrenching’: Family’s motorhome stolen from front yard just days after buying it

15 minutes ago

She outran a raging wildfire. Now, this N.S. woman demands faster alerts

17 minutes ago

Boy, five, is rushed to hospital with head injuries after being mauled by 'XL Bully' in Hull

17 minutes ago

These sinister signs may make you feel slightly threatened

17 minutes ago

We were told our cheeky toddler's seizure was due to tonsillitis... but weeks later doctors found a tennis ball sized incurable tumour in his brain

17 minutes ago

Kate Szepanowski arrives to court as her boyfriend faces $124million cocaine charge

17 minutes ago

Kylian Mbappe 'has not been paid his salary for April and is still owed a bonus from February' as his PSG exit turns sour ahead of expected free transfer to Real Madrid this summer

17 minutes ago

Kylian Mbappe reveals the club he wants to play for after Real Madrid... with the outgoing PSG star keen to fulfil a childhood dream

18 minutes ago

Manitoba pipeline under construction now partially operating as work continues

18 minutes ago

Trump Is Making Some Seriously Big Demands of His Top Donors: Report

18 minutes ago

Israel stocks higher at close of trade; TA 35 up 0.84%

19 minutes ago

Best Shadow the Hedgehog Quotes

19 minutes ago

Lifestyle of the rich and famous: 5 most sought-after SA suburbs

19 minutes ago

AI: The 'hardware folks' are where the visibility is, investment firm says

19 minutes ago

Injuries to SQ321 crew, passengers likely caused by rapid changes in G-force, 178 ft drop over 4.6 sec

19 minutes ago

Thailand’s fiercest cops seek image boost in brutal martial arts contest

19 minutes ago

Actress Zola Mhlongo reveals how she copes with online hate

19 minutes ago

Get rid of ants from your home with little-known baby product that 'works a treat'

19 minutes ago

Steelers: Justin Fields opens up about possibly playing as a punt returner

19 minutes ago

Royal Mail owner IDS accepts £3.5bn bid from West Ham co-owner Křetínský

19 minutes ago

Disney Cruise Line's rotational dining: What to know about this unique dinner concept

19 minutes ago

Nicks wants something to Crow about by winning at MCG

19 minutes ago

Sweden will donate $1.23 billion in military aid to Ukraine

19 minutes ago

How Borussia Dortmund stood up to football’s superpowers and won

19 minutes ago

Group of British players to win Champions League with foreign clubs set to grow

19 minutes ago

The contradiction at the heart of Borussia Dortmund’s unlikely Champions League fairytale

19 minutes ago

The transfer market problem that led Borussia Dortmund to the Champions League final

19 minutes ago

Good Morning Britain star 'stark raving mad' for quitting job to run in General Election

25 minutes ago

'Buying London' Feels Obviously Scripted, And It's Angering Viewers

25 minutes ago

Louisiana to become 1st state to require Ten Commandments be displayed in schools if governor signs bill

25 minutes ago

Rahul Gandhi: ‘Did parmatma ask PM to help only Adani & Ambani’

25 minutes ago

Tennessee teen Lily Basil killed day after her high school graduation as shooter claimed he didn’t know gun was loaded

25 minutes ago

French Open: Novak Djokovic finds bright spot on rain-hit day

25 minutes ago

Riley Keough steps out to grab a smoothie - after helping to thwart attempts from 'Nigerian scammers'  plotting to sell Graceland out from under Elvis Presley's family

25 minutes ago

Miss Universe model Daniella Pamela Caceres' $6,000 Chanel handbag theft from nightclub is revealed

25 minutes ago

'We are surrounded by history in the UK and it's extraordinary': These are the historical treasures Britons MUST visit, says TikTok historian Alice Loxton

25 minutes ago

Britain's Got Talent hit by claims of 'fakery' as viewers accuse K-pop band Blitzers of 'miming' during their semi-final performance

25 minutes ago

Disney World fan who has dined at 75 of theme park's restaurants details the five that are worth the splurge