PinkStripes

Rebuilding women careers in 2021 including trends

10 Mar 2021 - Career planning

The COVID-19 pandemic has undoubtedly affected everyone around the world in 2020. Women were 1.3 times more likely than men to have considered stepping out of the workforce or slowing down their careers—particularly mothers and senior women.

2021 is the year of rebuilding, expecting new trends, and progress in diversity, equality, and productivity.

FACTORS WOMEN SHOULD LOOK AT WHEN PLANNING THEIR RETURN TO WORKFORCE

Automation of jobs will continue: Women account for over 70% on average of clerical support workers, and in emerging economies, they account for over 40%. Automation will first take over the administrative, clerical, and non-skilled jobs, so women need to upgrade their own skill sets.

STEM careers will see growth: The demand for women in tech is rising. People and project management are areas in the sector where success stories from women can already be seen. Learn from mentors, coaches and role models, and most importantly, create a community where women empower other women.

Entrepreneurship is getting easier: Women entrepreneurs worldwide now can find themselves in a great community where programs supporting women are strongly pursued. There are women mentors, coaches and role models who can guide, inspire, influence, and educate women on how to make it in business. With more options for finding funding, this will attract more and more women entering the business world.

B2B sales landscapes will favour women: Buyers expect salespeople to add value beyond what is available digitally. They look for more autonomous authority, transparency, and collaboration. And these expectations sync very well with women's capabilities and strengths. Unlike high-performing men, high-performing women in sales focus more on building long-term relationships, having an emotional connection, and collaborating for solutions. This aligns well with the new buyer profile.

Digitalization enabling women and companies: We asked some of our key women leaders and community members to share their views on: “How the pandemic has impacted women careers and what opportunities it created in the pandemic world?” They all agree that digitalization is enabling both women and companies.

WHY WOMEN MAKING A COMEBACK TO THE WORKFORCE IS CRITICAL FOR COMPANIES

Companies in Asia understand that diverse firms have 19% more innovation and 9% higher EBIT margins. The cost of replacing workers who leave on account of lack of inclusion is estimated to be more than $25 billion a year.

This year most companies in Asia are making active efforts to build more inclusion within the organization by supporting the employees through mentoring and promoting mental well-being.

In addition, organizations also focus on making return-to-work programs successful and getting more women back in the workforce and in senior leadership roles, simply because women in their forties bring enhanced perspective and better execution capabilites.

Women in their forties will refresh the workplace: Usually, it's found that women take a pause in their career in their thirties to focus on family. But consider the women in their forties when their kids have gone to universities? So many talented women are likely to emerge and reach a new height in their career.1 It is important that countries, societies, and companies tap into this talent pool who are hungry for success and create more successful return programs to drive their profitability. There are many biases faced by women and organizations should work on minimizing and eliminating them.

HOW COMPANIES SUPPORT WOMEN TO HELP ACCELERATE THEIR CAREER PATHS

It is important to improve the female labor participation rate. The lack of women in leadership roles, lack of professional skills, lack of guidance through networks and connections, lack of group mentoring programs, lack of family-friendly policies and flexibility programmes, and patriarchal society can all be improved with the support of the companies. Some of our community members shared their ideas on "How companies can further support women to help them accelerate their career paths?":

While companies acknowledge that diversity increases their profitability and they invest to grow and promote talent within the organization to increase retention and help the bottom line, women also need to do their own part to successfully grow in their careers.

How women can grow in their careers while balancing multiple responsibilities

This is the best time for women as flexi-work is going mainstream and women should take the opportunity to upskill, re-skill, and prioritize their careers. Here are some of the tips from our community on "How women can grow in their senior careers while balancing multiple responsibilities?":

To engage and understand better how women can grow in their careers, join our IWD lunch session which comprises of senior business leaders in the industry: "How Women Can Make the Most of Their Careers in 2021" - PLEASE REGISTER HERE: https://tinyurl.com/1dzsftzq