Managing in Midlife

 Women in midlevel management positions are predicted to leave the workforce at the highest levels of any other group in 2022. C-suite women are intending to leave at the highest rate of all. One of the main reasons women cite for leaving is the lack of focus on workplace well-being.

Ageism continues to be one of the most pervasive workplace issues;     gendered ageism (the overlay of age on gender bias) potentially impacts over half the workforce – women over 45. Only a limited number of companies address gendered ageism in their diversity, equity, and inclusion (DEI) policies. Not surprisingly, most DEI efforts have been championed and continue to be led by women.

While the workforce is shrinking, the population is aging. Currently, half the workforce is made up of women over the age of 45 and by 2026 women over 55 will constitute more than one-third of those newly hired.

For every resignation, companies pay the price in off-boarding and on-boarding costs, institutional knowledge loss and more. It can cost 30-200% of an annual salary to replace your employees - costs increase for those with specialized expertise.

Recognizing the impact of aging, well-being, and the needs of women in midlife allows companies to better address the UN Sustainability Goals number 3 (good health and well-being) and 5 (gender equality).

When midlife challenges such as menopausal symptoms are experienced in the workplace, women report less overall job satisfaction and less workplace engagement. Many mid-life women do not report health or lifestyle issues to managers because of embarrassment, perceived lack of acceptance, or fear of job loss. The impact of workplace taboos related to health and aging, compounded with competing life demands, can also affect midlife productivity, confidence, and morale.

In a large U.S. study of over a quarter of a million women in the workplace, researchers found that untreated menopausal vasomotor symptoms (e.g., night sweats, hot flushes) alone cost employers $370,000,000 in direct health and indirect workplace costs.

When life demands are combined with health challenges, many women feel that they have no choice but to leave the workforce earlier than intended; women retire on average three years earlier than men.