3.18.22
A recent article by Fortune, explains how women are driving the labor shortage, and how experts have identified a crucial solution.
As of last month, there are still more than one million fewer women in the labor force than in February 2020. The most recent Bureau of Labor Statistics jobs report indicates that men are back to normal and have recouped their pandemic-related job loss rate. Women, on the other hand, have been left behind, due in part to the struggle to find and retain childcare during the ongoing pandemic.
But as companies are struggling with a labor shortage, the issue becomes more complicated than simply recruiting a million women back into the workforce. It’s an opportunity for companies to figure out how to retain women at all levels and set them up for success.
Even before COVID-19, Schneider Electric outlined company goals that focused on building a more diverse workforce. It was aiming to hire 50% women and make sure that 30% of candidates for senior leadership positions were women. The company found that to compete with startups and tech organizations like Google, it had to create a strong pipeline of diverse talent and institute flexible working conditions that could allow employees to also manage any caregiving responsibilities they might be juggling.