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Neglecting female health in workplace costs UK economy £20bn

25 October 2023
Number of female fund managers stagnates – despite diversity push
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Neglecting women’s health in workplace is costing the UK economy £20.2bn a year – according to a new report from Axa Health.

Its research found that almost seven out of 10 (68 per cent) of women say they have faced health issues at some point in their career and almost a third (29 per cent) reported that employer weren’t supportive. 

This figure jumps to 36 per cent when it comes to women-specific health matters such as endometriosis, fertility, menopause and periods. The fear of hindering career growth (46 per cent) and being forced to leave the workforce prematurely (48 per cent) are among the top concerns for women.

The research conducted with the Centre of Economic and Business research found that this is having a financial impact on women in the workforce, with 83 per cent of women having had theirs affected in some way. For example, it found that over half (52 per cent) had to take time off work, nearly a quarter say they missed a promotion (22 per cent)), and one in five settled for lower pay (20 per cent). All of which has a detrimental impact on the overall economy when scaled.

There is also a health and well as an economic impact with nine in 10 women report having struggled emotionally during this time.

The report found these issues can be particularly acute for part-time workers. For example 61 per cent are anxious about having to prematurely exit the workplace, exceeding the average by 19 per cent. Additionally, 52 per cent fear that their career progression will be hindered, rising to 64 per cent amongst those who work less than eight hours a week.

On a broader scale, only 17 per cent of women who work full time feel that discussions about women’s health are not supported in their workplaces, but this increases to almost a quarter (23 per cent) among those employed part-time.

When it comes to support for women-specific health needs in the workplace, many women said that have seen improvements over time, yet over a third still believe women’s health isn’t a priority.

Those who have seen the most strides forward were often over 55. This age group also leads the charge in terms of comfort levels when it comes to discussing women-specific health matters at work. Axa Health says this confidence could stem from being in the later stages of their careers, reducing anxiety about long-term impacts.

In stark contrast, women aged 25-to-34 lag behind and are 25 per cent more uncomfortable on average to speak out. 

Axa Health deputy chief medical officer Dr Pallavi Bradshaw says: “While companies certainly still have a way to go in addressing women’s health at work, there is promise in the increased willingness of women to discuss their health concerns with colleagues and managers. 

For example, our women’s health report found that 60 per cent of women who talked about their health found their employers to be supportive, whether this be through time off, offering counselling or making adaptations to the workplace.

“These developments are positive, but as we delve further into the findings, it becomes evident that concerns extend beyond just health issues. A striking 53 per cent of the women we surveyed voiced that, within their workplaces, women often shoulder more unplanned responsibilities – such as caring for loved ones – than their male counterparts. 

“Furthermore, when reflecting on their own families, 39 per cent of respondents revealed that they bear a greater burden than male family members when it came to unexpected caring responsibilities. This gender-based imbalance in unpaid labour not only perpetuates inequality but also places women at risk of being sidelined in their careers, overlooked for promotions, or compelled to work beneath their true potential.

“Forward strides may be being made, but the economic impact of neglecting women’s health is still significant, emphasising the need for more education, robust workplace policies, and talent retention initiatives.”

Flick Drummond MP, serving as the co-chair of the APPG on Women & Work, is actively championing Axa’s efforts to drive change within both corporate entities and society at large. 

She comments:“As this report finds, neglecting the health of women in our workplaces isn’t just a matter of compassion; it’s a serious economic oversight. The Government’s Women’s Health Strategy is visionary, and we need to work together to effectively fund and safeguard the ten-year plan into the future. As we approach the Autumn statement, I am committed to working with my government colleagues to ensure this is the case.”

The research reveals several ways in which businesses can start to better support their female employees, these include:

  • Flexible Working Arrangements: Offering options such as flexible hours, remote work, and job-sharing to accommodate the specific needs of women.
  • Specific Conditions Support: Providing tailored support for various health conditions, including guidance for line managers to ensure better understanding and assistance.
  • Mental Health Support: Offering confidential counseling and access to mental health resources to help female employees manage their emotional well-being.
  • Access to information: Ensuring access to comprehensive information pertaining to women’s health, including preventative steps individuals can take.
  • Health and Wellbeing Support: Employee wellbeing support for both the physical and mental health needs of your team, taking into consideration individual needs.
  • Wellness Training: Providing resources and training for managers so they feel confident to support women facing health challenges.
  • Physical Workplace Adjustments: Making the office environment more comfortable and accommodating for women experiencing health-related challenges.

The post Neglecting female health in workplace costs UK economy £20bn appeared first on Corporate Adviser.

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