From protection to prosperity: how supporting women's health drives economic growth

In a stride toward workplace inclusivity, the Equality and Human Rights Commission's guidance for accommodating menopausal women heralds a pivotal moment for gender equality in the labor force.

Coupled with the anticipated legislative reforms aimed at bolstering employment rights for individuals on parental leave, these initiatives underscore a growing recognition of the unique challenges faced by women in the workplace.

Yet, this progress merely skims the surface of profound issues that, left unaddressed, threatens not only the well-being of millions of women but also the economic vitality of the United Kingdom.

The economic and social crisis unveiled

The UK has a productivity crisis.

The Labour Party 's analysis reveals a troubling trend: the UK stands alone among OECD (Organisation for Economic Co-operation and Development) countries in regressing on key employment indicators since the pandemic's onset.

As Liz Kendall, Labour’s Shadow Work & Pensions Secretary, observes, the nation grapples with a "crisis of economic inactivity".

The demographic makeup of the workforce is undergoing a profound transformation.

With one in three workers soon to be over 50, Menopausal women represent the fastest-growing workforce demographic. Yet, BUPA found that almost 900,000 women in the UK have left their jobs because of menopausal symptoms.

Coupled with later retirement ages and the trend of starting families later due to economic and social factors, the need for inclusive workplace policies that support women's wellbeing and productivity throughout all life-stages has never been more acute.

Birth rates in decline as barriers to parenthood are increase

In 2023, the birthrate in England and Wales dropped to the lowest level in two decades. Stagnant wages, soaring costs of living, and the persistent "motherhood penalty" – a career setback or reduced earning potential experienced by many women after having children – all act as significant deterrents to starting a family.

Highlighting the urgency for improved maternity support, the Unison trade union's advocacy for doubling statutory maternity pay underscores a pressing economic and social need ( Christina McAnea ). Unison's survey illuminates a stark reality: 58% of new mothers return to work prematurely due to financial pressures, and a significant portion resort to skipping meals to provide for their families.

Additionally, inadequate maternity leave and a lack of affordable childcare options force many women to choose between their careers and parenthood, hindering economic participation and jeopardising the future of our workforce.

Even if, after all of this, women do decide to start a family, many struggle. Today, over 3.5 million people in the UK face fertility challenges, seeking treatments such as IVF.

The economic costs of neglecting women's health

The economic ramifications of neglecting women's health are stark.

A declining birth rate, a surge in sick leave, coupled with a significant exodus of women from the workforce due to inadequate support for menopausal symptoms or the rigours of balancing work and family life, underscores a pressing economic threat.

Research from BUPA and Vitality highlights the dual blow of reduced productivity and increased absenteeism, painting a grim picture of the potential economic fallout.

The domino effect: How a declining birth rate impacts us all

Reduced participation in the workplace (as a result of women leaving) coupled with a rapidly aging population (due to declining birthrates) impacts us all:

• Shrinking tax base: Fewer working-age individuals translate to a smaller pool of taxpayers, impacting our ability to support critical social services and infrastructure.
• Labour shortages: Industries across the board face potential skill and labor shortages, hindering businesses' ability to grow and innovate, potentially stifling economic growth.
• Strained pension systems: An aging population places increased pressure on pension systems and social care services, creating a concerning imbalance and potentially jeopardising the well-being of future retirees.

Unlocking economic potential through support

Yet, amidst these challenges lies a profound opportunity.

By championing policies that address the health needs of women at each life stage, businesses can unlock untold economic potential.

A supportive work environment not only curtails sick leave but also boosts productivity, job satisfaction, loyalty, and innovation. And, it keeps more women, and therefore more workers, in employment.

The message is unequivocal: the prosperity of women in the workplace is inextricably linked to the broader economic success of our country.

The wider economic benefits of inclusivity

The economic benefits of such supportive policies extend far beyond the confines of individual businesses.

With women comprising a substantial segment of the labor force, their active and engaged participation is vital for the nation's economic health.

Reducing barriers to this participation not only enriches the workforce with a diversity of skills and perspectives but also mitigates healthcare costs and reliance on social services, further propelling economic growth and stability.

A shared responsibility: building a brighter future together

The path towards a more inclusive and prosperous future requires a collective effort from both employers and the government alongside individual action:

• Subsidised childcare and flexible work arrangements: Increased investments in quality, affordable childcare options and the normalisation of flexible working arrangements are essential to empower women to balance their careers and family life, maximising their potential within the workforce.
• Enhanced family leave and benefits: Extending and harmonising both maternity and paternity leave policies, coupled with protection against workplace discrimination, will create a supportive ecosystem for new parents, fostering a more inclusive and family-friendly work environment.
• Closing the gender pay gap: Actively working to close the gender pay gap and increase women's representation in leadership positions can empower women to feel more financially secure and confident in their decision to have children.
• Offer training and resources: Provide training for managers on recognizing and supporting various health concerns and offer confidential resources for employees.
• Foster open communication: Encourage open dialogue about health-related challenges and flexible working options to break down stigma and foster understanding.
• Comprehensive and accessible fertility support: Fertility treatment, a realm yet to be fully embraced within workplace policies, affects a significant portion of the population. By integrating flexible working arrangements and medical leave into corporate policies, employers can make a tangible difference in the lives of those undergoing fertility treatments, thereby enhancing overall productivity and well-being.

Conclusion: widening participation as a foundational economic policy

In conclusion, the recent advancements in supporting women's health in the workplace signify more than a stride towards gender equality; they represent a strategic economic policy.

By embracing a holistic approach that supports the needs of women, businesses and policymakers can catalyse a powerful engine of economic prosperity.

This journey from protection to prosperity, paved with increasingly progressive policies, not only champions the cause of gender equality but also fortifies the foundation of a thriving, inclusive economy.