How to increase company performance by helping working mothers overcome work-life balance struggles
Research shows many women suffer a decrease in compensation and contribution at work after starting or growing their family as they struggle unsuccessfully to find balance. The Economist Magazine called this the birth penalty, and it is an issue equally problematic for the professional women affected by it, and the companies they work for.
Professional women scale back or exit promising careers due to these pressures in far greater numbers than men when they become parents. The economist reported that:
in Britain about 70% of women scale back in their career, compared to 11% of men;
in France, 55% of women scale back, compared to 13% of men; and
in Australia, 56% of women scale back, compare to 19% of men.
The statistics continue for other countries in similar manners.
This also has devastating effects on their employers. A recent study found that the cost to replace an employee is an estimated 21% of that employee's salary. So, depending on how many women leave, or are under-utilised in your organisation this could be costing your company tens to hundreds of thousands of dollars. And that is not including the opportunity costs of the increase in the leadership gender gap this causes. We all know that diversity and inclusion help drive real business results.
The challenge therefore how to create a win-win arrangement that balances purpose with profit, which is what this presentation is about.
I will share my story, and my 3 Step “Childproof Your Career” proprietary process, to help you see how your organisation can support the parents that work for you to realise the power they have as individuals to end the work-life balance struggle, and thrive in both their professional and personal lives, leading to more fulfilled employees, and better business results.
About Maxine Nwaneri
Maxine Nwaneri is a certified coach, consultant, international speaker, and #1 Amazon international bestselling co-author. She is on a mission to help as many companies and women around the world as possible escape the ‘Birth Penalty’ where many women’s career contributions and compensation decline after starting or growing their family as they struggle to find work-life balance. She has worked with clients and corporations on five continents with extraordinary results. Maxine holds an MBA from Cambridge University, and her message was previously featured in numerous online and offline publications and events including the European Women in Finance conference in Amsterdam, the Women's International Networking conference in Rome, Athens and Oslo, Success Magazine, Huffpost, and Thrive Global.