As we celebrate Women’s History Month, forward-thinking companies have never had a better time to reimagine their benefits strategy.
In today’s cut-throat talent market, women aren’t just looking for a stable monthly income—they’re seeking a flexible workplace environment. One that nurtures career growth and personal development, prioritises their health, and supports their family commitments.
Consequently, businesses must pave the way with benefits that put women first, by drawing in exceptional female talent ready to drive your company’s growth!
1. Invest in Learning & Development
Empower Through Education
Learning and development (L&D) allowances can be a game changer for female employees and aspiring leaders. In a world where career trajectories evolve rapidly, having a resource at their fingertips that allows them to invest in personalised development boosts retention and helps your business to bridge the female leadership gap.
- Flexible Allowances for Growth: Provide dedicated budgets for online courses, leadership training, and mentoring programs that enable women to upskill at their own pace.
- The Data: A recent CIPD survey found that organisations that implement a targeted L&D program consequently see up to a 15% increase in female leadership representation (CIPD, 2023).
- Why It Matters: When women have access to learning opportunities, they’re better equipped to overcome barriers and excel in their roles. The result? Transforming their innate potential into performance.
2. Deliver Comprehensive Healthcare with PMI
Tailored Health Support
Women’s healthcare needs are diverse, spanning everything from reproductive health to mental health and preventative screenings. Therefore, we truly believe all companies should strive to offer a comprehensive Private Medical Insurance policy to support their female employees’ overall wellbeing;
- Reproductive and Preventative Care: Ensure your benefits package includes coverage for reproductive health, mental health services, and regular breast and cervical cancer screenings. Zhoosh can help you to curate a comprehensive PMI policy.
- The Data: NHS Digital reports that routine cancer screening participation in the UK has significantly improved outcomes, with over 70% of eligible women participating in regular screenings (NHS Digital, 2023). PMI allows your female employees to skip the waiting line and ensure their health is well maintained.
- The Impact: Offering coveted benefits, like private healthcare and CashPlans, is a huge draw for an increasingly health-conscious female workforce that often needs female-centric care, but find themselves burdened by NHS wait times. If you don’t already offer PMI or Cashplan, we strongly urge you to consider it. Contact us and we can prepare a no-obligation quote for your team.
3. Enhance Childcare Support
Supporting Working Parents
Childcare remains one of the most significant challenges for many working women. By offering robust childcare support, employers can ease the burden on parents and enhance work-life balance;
- Government Nursery Schemes & Employer Flexibility: Leverage initiatives like the UK Government’s 15-30-hour free childcare scheme for working families and combine this with government-backed nursery schemes, alongside flexible and remote working policies, to give your female employees the freedom and capacity to balance work and family life effectively.
- The Data: According to CIPD, companies with flexible working policies have seen a 20% improvement in female retention rates (CIPD, 2023).
- The Result: When women know that their employer is supporting them in managing their childcare responsibilities (without sacrificing their career ambitions), they’re more likely to remain engaged and loyal.
4. Support Family Planning
Caring for Future Generations
The female workforce no longer sees family planning policies as ‘nice-to-have’ but a must-have for modern employers aiming to attract and retain top female talent. From IVF to adoption support, these policies can have a transformative impact and show prospective female employees that you’re committed to supporting them during some of life’s most significant events;
- Inclusive Policies: Develop HR policies that support fertility treatments, IVF, pregnancy loss, and adoption.
- The Data: A survey by the Fawcett Society indicates that nearly 40% of women consider robust family planning support a decisive factor when evaluating job opportunities (Fawcett Society, 2023).
- Creating a Culture of Support: By offering these benefits, companies demonstrate a genuine commitment to supporting women through every stage of life.
Additional Benefits to Consider
Beyond the Basics
While the above pillars are essential, forward-thinking employers should continually seek innovative ways to differentiate themselves. Here are some extra benefits & initiatives to consider:
- Female Mentorship Programs: Create internal networks and mentorship schemes that connect emerging female leaders with experienced executives.
- Return-to-Work Initiatives: Support career re-entry for women returning from extended leave through tailored reintegration and onboarding programmes.
- Financial Wellness: Offer personalised financial planning services to help female employees manage their finances, obtain mortgages and retirement plans, and even save for further education.
- Wellbeing Apps and Mental Health Days: Encourage a culture where mental health care is easily accessible, with on-demand access to wellness apps and dedicated mental health day first aiders.
Conclusion
To summarise, companies must offer a benefits package that goes beyond the basics to attract top female talent. In today’s fast-paced environment, women seek employers who invest in their growth, support their health, understand their childcare challenges, and stand by them during family planning journeys.
Businesses can attract and retain dynamic and innovative female leaders by implementing flexible learning and development budgets, comprehensive healthcare, childcare support, and inclusive family planning policies. This holistic approach benefits employees and is essential for building a resilient and future-proof organisation that champions the female workforce.
As we honour the contributions of women during Women’s History Month, let’s commit to creating workplaces that empower, support, and inspire. Now is the perfect time to ask yourself – ‘what steps is my business taking to support and attract top female talent?’
