The cost of the "she-cession".

As we head into Mother’s Day, for many of us, it will be yet another year of celebrating differently. Some of us are still separated from our loved ones and some are celebrating half in and half out of the world we remember. Mother’s Day has always evoked fond memories for me. Even though in Ireland we celebrate Mother’s Day in March, no matter what date it falls on, it’s always a special opportunity to honor the women in our lives who support and nurture us. I’m incredibly fortunate to connect with my Mum, a former school teacher, on her special day. As she’s now in her nineties, I cherish every day we get to talk. And because we live in the U.S., I get to celebrate Mother’s Day with my wife, Elaine, twice. 

No matter how we choose to celebrate this year, as a son and a husband, I’d ask that we honor our mothers by fighting for them. Because, in a year that created so much sudden and jarring change, it was women with children who saw the biggest decline in workforce participation.

A future on hold

It’s no accident that I’m writing about this just before Mother’s Day. Generations of mothers have been fighting to balance the traditional role of caregiver at home while building their careers -- just like my Mum who worked her entire life as a teacher while raising three boys, a rather unusual thing for her generation. Prior to the pandemic, companies were touting “The Future is Female,” and making strides to ensure equality for all by revising their benefits and policies to increase gender diversity and equality. 

And then the pandemic took away so much of the progress that has been made. Women were leaving the workforce in droves—particularly women with children. From February 2020 to January 2021, the U.S. workforce has lost approximately 5.4 million women which accounts for 55 percent of the overall net job loss since the start of the pandemic. On top of demanding jobs, women had to manage the additional responsibilities of being actively engaged in their children’s education virtually or safely caring for them at home. I have been on many calls where colleagues, often women, mute their mics or abruptly shut off their cameras because their child has a school-related question or a baby is crying.  

How do we solve for the “she-cession?”

I don’t believe there’s a simple answer. As a father, as a son and as a leader at a high-profile global employer, I know that this will take all of us, working together, to build sustainable solutions. We need everyone, both in the private and public sectors, focused on solving for this “she-cession.” And that focus must extend beyond preventing more job loss among women. It must support women’s re-entry, participation and advancement in the workforce. 

Over the years, Verizon has introduced policies, benefits and training for our employees that are responsive to the realities that women face at work and on the home front. Last spring, when unemployment rose, we also dialed up our efforts to keep women V Teamers working - from expanding backup care to introducing COVID-19 Caregiver Leave.

Creating a future of work that works for women

Earlier this year, we polled more than 2,000 women in a Verizon study with Morning Consult to dive deeper into the barriers they are facing when contemplating a return to work. Here are some topline findings: 

• 59% of women who plan to re-enter the workforce say they cannot afford the training required to remain competitive.
• 53% of women who voluntarily left their job during the pandemic say burnout was a top factor.
• The majority of women planning to re-enter the workforce in the future are largely concerned about the state of the economy limiting their opportunities (80%) and facing difficulty finding a job that matches their skillset.
• 77% of women are more likely to want flexible work hours in their next job and 67% want remote work opportunities. 

When looking at these figures and the insights from the study, it’s clear that women feel a lack of support when entering, reentering or looking to advance their careers. The reason is quite simple, though the solution is complex — the current way of working is not set up for women to succeed. 

Large employers such as Verizon have tuned in to these trends. For example, given the ongoing crisis fatigue and increased need for self-care, we introduced new wellness programs, including those around burnout prevention, and hosted conversations throughout the company with external thought leaders. We also provided free resources to help parents support their children during virtual and hybrid learning. But there are so many more opportunities to deliver other programs that will make it easier for women to join and remain in the workforce. 

Recently, we launched the Women’s CoLab, an initiative to provide access to curated resources that will help women realize their greatest ambitions and thrive professionally. I’m also proud of our recent partnership with nonprofit Generations to invest $44 million to upskill 500,000 individuals from under resourced communities, including women and people of color. This initiative focuses on ensuring they can participate to their full potential in an increasingly digital economy.

We can’t allow this pandemic to cause irreversible damage to the years of progress our mothers and the mothers of our children have made. The story must be one of growth and resilience. It will take all of us, armed with knowledge and empathy, to rise from the “she-cession.” We can and will build a future of work that works for women.