A recent study found three in ten women in the retirement industry say they experienced negative career growth due to caregiving.
Women face a series of obstacles while working to advance their careers. One of the biggest challenges women encounter in the retirement industry is advancing their careers while being a caregiver. Caregiving has its own unique demands, such as added financial strain, increased pocket expenses, and little to no resources for women caregivers in the workplace.
Since the onset of Covid-19, NPR reported more than 400,000 women have left the workplace to become a caregiver compared to men. This inequality highlights an area of opportunity to provide more support and resources to women in the retirement industry to thrive in their careers despite outside responsibilities.
Ninety-four percent of women felt their employer was somewhat or extremely supportive of caregivers, while seven in 10 women reported having autonomy in how they structure their day. Jen Mulrooney, the President of WIPN, stated, “Our proprietary research supports WIPN’s mission of advancing equity and opportunity for women in the retirement industry.” This dialogue is a great and much-needed discussion around ensuring women in the retirement industry have the same career advancement opportunities while being a caregiver.
WIPN has done a great job of turning our research findings into learnings to help women in the retirement industry advance their careers. I’m proud to be a part of this great initiative creating a framework that allows women, leaders and companies to have important conversations and initiate change.
— Carrie Ohm, VP of Corporate Development, OneDigital Retirement + Wealth
To learn more about the pressure women caregivers in the retirement industry face, read the full article Women in Retirement Industry Face Dual Pressure.
Want to learn how women can succeed in reducing the gap in their retirement savings? Check out this article: 3 Helpful Tips for Women to Overcome the Retirement Savings Gap.
Investment advice offered through OneDigital Investment Advisors LLC., an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.
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