Women in retirement face double pressure


According to the nonprofit WIPN (which stands for We Inspire.Promote.Network), three in 10 women in the retirement industry say their caregiving role is negatively impacting their career opportunities.

Only 4% of women said their caregiving role had a positive impact on their career opportunities. Just under two-thirds of women (61%) said they were happy to stay in her workforce when they became caregivers.

WIPN’s latest research report, “How a ‘Can Do Anything’ Culture Affects Women in Retirement,” surveys 163 WIPN members in retirement-focused financial services, including caregivers Did.

“Our independent research supports WIPN’s mission to promote equality and opportunity for women in the retirement industry,” said Jen Mulroney, WIPN president and vice president of American Century Investments, in a statement. “We hope the findings can foster a dialogue, as caregiver satisfaction is low. Recognize setbacks and obstacles.

When it comes to pay and compensation, 71% of respondents say their workplace is either less transparent or more or less transparent. Only 28% said their organization has pay equity research in place.

More than a quarter (28%) of WIPN respondents considered a sales role but did not take it. Some women left the business because they felt the work was incompatible with the demands of their families.

“Sales offers better salaries than service-related roles, the ability to interact with clients, attend industry events to build a brand, and influence the trajectory of a business,” he said. A 38-year-old WIPN member said. report. “The downside, however, is the hours away from home and family and the mostly male co-workers and bosses.”

A positive data point is that almost all women (94%) feel their employers are very or somewhat supportive of caregivers in general. Additionally, 7 in 10 say they have more autonomy in how they spend their day, including working from home and flexible work hours to accommodate caregiving responsibilities.

Despite some positive reactions, Mulrooney said there are still ways employers can better support female employees in the retirement industry.

“Some areas where the retirement industry could improve for women are companies reassessing parental leave policies, considering workplace care support groups, and doing more to recruit women into sales positions. is able to do,” she said.

WIPN’s research partner, Escalent, conducted the research in January with the help of sponsors. Fidelity Investments and one digital.

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