Browsing Category

Women

article Career Children Corporate Family Women Work Work at Home Work-Life Balance Working Mom

Where Have All the Women Gone?

Inspired by the NBC News coverage of recent report findings published by Deloitte, in “Women @ Work: A global outlook”.


With viewership of Hulu’s most-watched original title, The Handmaid’s Tale, achieving record numbers following its season 4 premier nearly a month ago, it should come as no surprise that women are seeking an escape from their own overwhelming workloads –at home and on the job— via entertainment.  And yet, that ‘escape’ to a dystopian television series based on Atwood’s 1985 prophetic novel, that so closely mirrors the current state-of-affairs for women in the workforce, seems to be more cathartic than entertaining; the show and its themes giving voice to the ‘perfect storm’ awaiting women following the COVID-19 pandemic.  And while America is still a far cry from the fictional Gilead, the disappearance of women from the workforce is nothing short of distressing.


The Findings

Deloitte’s survey of over 5,000 women from 10 countries from November of 2020 to March of 2021, confirmed what any working mother has already endured throughout the pandemic: an increase in responsibilities at work and at home, taking a devastating toll on mental health and leading to burn out.

  • 8 in 10 women surveyed said their workloads had increased since the pandemic began, but so did their responsibilities at home.
  • Job satisfaction dropped by 29 points over the pandemic, “with women considering opting out of their workplaces –or the workforce entirely— in troublingly large numbers.”
  • More than half of the women surveyed are less optimistic about their careers than they were before the pandemic.
  • Overall, 57 percent of women plan to leave their workplaces in the next two years or less, while 21 percent say they will eave sooner than that, all citing lack of work-life balance.
  • Nearly 1 in 4 women are considering leaving the workforce altogether.

The Cost

The contribution of the female labor market over the past 125 years has been a major factor in America’s prosperity.  In fact, a recent study “estimates that increasing the female participation rate [in the American workforce] to that of men would raise our gross domestic product by 5 percent.”

However, women face significant obstacles in achieving their professional goals, made even more insurmountable by the pandemic.

  • The gap in earnings between women and men is still significant.
  • Women continue to be underrepresented in certain industries and occupations.
  • Too many women struggle to combine aspirations for work and family.
  • Further advancement has been hampered by barriers to equal opportunity and workplace rules and norms that fail to support a reasonable work-life balance.

According to Janet Yellen, a Distinguished Fellow in Residence with the Economic Studies Program at the Brookings Institution, “If these obstacles persist, we will squander the potential of many of our citizens and incur a substantial loss to the productive capacity of our economy at a time when the aging of the population and weak productivity growth are already weighing on economic growth.”

The Next Step

We cannot continue the devastating path we are on; the pandemic has wiped out the job gains women made over the past decade. Women now have an unemployment rate in the double digits, for the first time since data began being reported by gender in 1948, according to the Bureau of Labor Statistics.  Women’s unemployment in April of 2020 was nearly three points higher than men’s according to Labor Department rates reported by The Washington Post.

Kimberly Churches, CEO of the American Association of University Women believes we should focus our attention on bills and legislation that are focused on: pay equity, practices in the workplace on flexibility and on access to care—like the Paycheck Fairness Act and the FAMILY Act.

Melinda Gates, co-chair of the Bill & Melinda Gates Foundation believes we should focus our attention on the caregiving crisis, beginning with a national paid family and medical leave policy.  “We’re the only industrialized nation without one [a paid family and medical leave policy].  We also need federal action to stabilize the teetering childcare industry and to direct additional resources to long-term-care services and supports so that ill and aging adults have options besides relying on a mother or a daughter.”

Rachel Thomas, co-founder and CEO of LeanIn.org believes that remote work, as long as it is embraced correctly, will be key in maintaining the presence of women in the workforce while legislation and cultural norms catch up to the disproportionate caregiving responsibilities falling on the shoulders of women, one of the major factors in nearly 2.2 million women completely dropping out of the workforce.


While the US is a far cry from Gilead, our workforce may not be.  With women leaving reluctantly to be “stuck at home mom’s”, employers must take action to preserve an essential asset to our economy.  And the solutions don’t require a revolution; nearly a quarter of the women surveyed by Deloitte say, “better child care/caregiving support, short-term sabbaticals and better resources to support their mental health are the top three things companies can do to keep them.”  It’s time to get American women back to work, with the proper supports to stay there.

Career Children Corporate Family Finance Household Money Success Women Work Work at Home Work-Life Balance Working Mom

With Spring Showers Comes the ‘She-Cession’: Keeping the Plates of Working Motherhood Spinning in the Midst of a Pandemic

Inspired by Maria Shriver’s investigative report for 3rd Hour Today, The State of Women: She-Cession.

The month of March typically fills our calendars with the return of spring weather, spring-cleaning, spring training and spring break, but this year, March also marks one year since the World Health Organization declared the coronavirus pandemic.  While we typically welcome the renewal and recharging that comes with spring, this year, many of us are instead reflecting on the insurmountable challenges and changes presented by the last year, and by the pandemic.  One of these challenges and changes has even coined a new name –the ‘She-cession’—plaguing American women, mothers, and caregivers and costing the United States an estimated “64.5 billion a year in lost wages and related economic activity” according to the Center for American Progress (CAP).  As we prepare spring break plans, however different they may look, we continue spinning our countless caregiving and career plates but to what end?  The pandemic’s effects are taking both economic and personal tolls, and they are hitting women the hardest.

In a recent report conducted by the CAP, findings show that women have lost a net of 5.4 million jobs as a result of the pandemic-induced recession, nearly 1 million more jobs than their male counterparts, and Black and Latina women have experienced a 50% higher unemployment rate than the national average according to the U.S. Bureau of Labor Statistics.  While women are experiencing the benefits of workforce trends that have emerged in the last year like working remotely, they continue to shoulder the majority of domestic duties.  In fact, working moms are 1.5 times more likely to report an additional 3 hours a day on domestic ‘chores’ like supervising their children’s remote learning –practically another part-time job, and an unpaid one at that. As a result, the most recent Women in the Workplace report found that for the first time, 1 in 4 women are considering stepping out of the workforce or downshifting their careers.  The outcomes of the ‘She-cession’ are nothing short of disastrous—jeopardizing huge strides made toward gender equity in the workplace, lifelong effects on skills and earnings potential, and a significant impact on women’s mental and emotional health.

So what do we do? How do we solve problems as great as women living in their cars to afford care for their aging parents after losing their job? How do we pay the estimated $1 trillion bill of unpaid labor performed by women in the home? Girls Who Code CEO Reshma Saujani is proposing a “Marshall Plan for Moms” that would ask Congress and the White House to support working mothers by implementing multiple policies that would address problematic parental leave plans, stabilize the child care industry and pay $2400 monthly to mothers to for their unpaid labor.  Issues like these, according to Saujani, who has garnered the attention and support of many working moms including celebrities, are forcing the hand of working women and mothers, “We aren’t choosing to leave the workforce, we’re being pushed out”.  There is hope.  The Biden administration is already reviewing the “Marshall Plan for Moms” and has already backed several of its initiatives such as family leave and subsidized childcare.

As working mothers, we embody empathy, compassion, interpersonal skills and the ingenuity required to care for, teach, and respond to the ever-growing needs of our children and our families.  Let’s come together and take action to utilize these talents and advocate for ourselves, our families, our world and our place in the workforce.

Find valuable resources, support, and action steps toward advocacy at the California Work and Family Coalition.

Corporate Dream Big Finance Freedom Uncategorized Women

I just have always believed in entrepreneurship!

We recently had the opportunity to catch up with Miriam! She owns a successful vacation rental business in Victoria, B.C. Victoria is a capital city located on Vancouver Island. Miriam has always had a love for working with people, along with being an entrepreneur. Read on to learn why Moms Making Six Figures was the perfect fit for her!

Can you tell us a little about yourself and your career background?

I’ve always considered myself a transformation coach. I love anything to do with helping others be their best selves and seeing change for the better! In my corporate career, I worked as an Account Executive with Franklin Covey enjoying 3 tenures over 20 years. In this position, I would help senior-level executives, directors, and business/organization unit leaders to increase productivity, help with business execution, leadership and employee performance improvement. Alongside my amazing corporate career, I have always had a “side-gig.” It’s always been important for me to have multiple streams of income and I love being an entrepreneur. From the time I was a little girl, I had a newspaper route and sold Regal gifts. I just have always believed in entrepreneurship.

After I retired from the corporate world, I started a vacation rental business. I own four properties and manage another for a client, as well. For a long time, I had a dream of owning a Bed and Breakfast, so this business is the perfect way to fulfill my dream and welcome guests to our beautiful city of Victoria, B.C. I see guests from all over the world and feel very blessed!

How did you first learn about Moms Making Six Figures?

About a year and a half ago, one of my friends reached out to me and introduced me to the Moms Making Six Figures Team. After learning about the company and their mission to help others lives healthier lives, I was very intrigued.

With my vacation rental business, I always ensure guests visiting my properties have everything they need. From seasonings to cookware, laundry soap and much more, all my guests need to pack is their clothing. Making sure that my properties had safe products was a top priority, so partnering with Moms Making Six Figures just made sense.

Although partnering with Moms seemed to make sense, did you have any initial reservations?

At first, I was hesitant to join the Moms Making Six Figures team because I had been pouring so much energy into my vacation rental business. After I spent some time getting familiar with the company, everything truly seemed to fall into place. My business was doing extremely well, I felt financially secure, but I started to miss some aspects of having a side-gig. I also missed being able to work with people like I did in my corporate career…

I woke up one day and it kind of dawned on me that working with Moms Making Six Figures would add so much to my life. I would be helping people, goal setting and continuing to nurture my entrepreneurial side! I couldn’t be happier that I decided to take the plunge and work with this amazing team of women.

 

Corporate Family Women Work at Home

What are Corporate Women Seeking? Balance!

It’s tough being a mom and excelling in the corporate sphere without compromising on family time. Let’s face it, when you have a high-pressure job and a team of people depending on you, missed family dinners, arriving home after bedtime, and traveling often—even over the holidays—often become the norm despite your best efforts otherwise. Before you know it, the work-life balance you were striving for goes out the window! That’s why more women today are leaving corporate America and opting to work from home.

We get it: Being a mom is more than just a full-time job, it requires you to be on-call and readily available 24/7—to nurse your children during that unexpected 24-hour flu, pick them up from a sleepover when they get homesick before the “sleep” part happens, stay up late with them to finish their science fair project—the list goes on. We also understand that most of us can’t just quit a six-figure corporate position with all its perks to stay home full-time and bring in zero dollars in income. That won’t support your family’s needs either!

Working from home is an amazing alternative to a full-time corporate job that actually allows you that balance that you’ve been seeking for so long. While working in your PJ’s may sound appealing (at least for the short term—trust us, it gets old after a while!), there’s a lot more to look forward to when you’re a work-at-home mom.

1. Set Your Own Schedule

Gone are the days of the 9 to 5 (usually longer) routine that forces you to miss out on your children’s lives. This time, you set your own working hours. This may not necessarily mean that your days will be shorter, but it does mean that you are now flexible enough to work at whatever time suits you best without compromising on family time. Are you a night owl? Well, now you can get in a 4-hour chunk of work during your peak hours after the kids are tucked in bed!

2. Work-Life Balance

With flexibility comes the work-life balance we all strive towards. The corporate world may cater to your career goals, but at what cost? As a work-at-home mom, you’ll not only be able to provide for your family financially, but you’ll have the time to focus on your family and yourself as well. Success is not only measured by your position on the corporate ladder, but by other aspects of your life—such as family, self-care, and friendship. Not to mention how you feel about yourself at the end of the day. Let go of that mom guilt once and for all!

3. Be Your Own Boss

Fed up with taking orders from someone day in and day out? As a work-at-home mom you call the shots. The skills you developed in the corporate world may still apply, but being your own boss forces you to develop a new set of skills that come with having to make decisions on your own, and that in itself can be very fulfilling. As the one who calls the shots, you’ll soon find yourself making swifter and smarter decisions, and you’ll develop savvier leadership skills. Plus, there’s the added bonus of being able to take time off whenever you want and not having to answer to anyone but yourself. That’s one perk that most women in the corporate sector cannot claim!

4. Potential for Limitless Income

No matter how hard you work and how far up the corporate ladder you climb, there will always be a limit to your income. Working from home eliminates these limitations. The harder and smarter you work, the higher your potential earnings. You can be a great mom and create financial independence at the same time. Break that glass ceiling!

5. Prove the Naysayers Wrong

“Moms have a hard time being entrepreneurs.” WRONG! Being an entrepreneur isn’t always easy, regardless of whether you’re a mom or not. But did you know that you actually have a better chance of being a successful entrepreneur because you’re a mom? Here’s why:

• Your children become your motivation. Once you have kids, your focus shifts. You don’t only have yourself to think about—you have to provide for your children, and that changes the game. Additionally, you have less time and probably less money to waste on things that aren’t important. This makes you more focused and more determined.
• Children force you to become more organized. Sometimes “winging it” doesn’t cut it. As a mom, you have to be on top of things, and that means keeping things in order. This skill will naturally filter into your work as well.

Are you considering leaving the corporate world to enjoy the balance of working from home? At Moms Making Six Figures, our priority is helping working moms take that step towards their dreams. For more information about getting started on the path to balance and fulfillment in your life, call us at (858) 837-1505, or visit our website at momsmakingsixfigures.com.