50% of Women in the UK are at a Careers Crossroads
50% of Women in the UK are at a Careers Crossroads
New research from executive coaching company, Talking Talent, of over 2500 working women in the UK reveals that over 50% are at a & lsquo;career cross roads’ - unsure whether to progress up, out or pursue a different career altogether. The report & lsquo;Up, Out or Different’ – The Career Dilemma for UK women’, looks at the main & lsquo;pinch points’ challenging women’s careers and hindering their progression, as well as the skills and support needed to overcome these issues. The report found 52% of all women in their 20s, 30s and 40s working across a range of industry sectors are at a & lsquo;career crossroads’, with age or seniority making little difference. The second biggest challenge is the & lsquo;maternity transition’. 48% of all women highlighted it as the most challenging point in their careers. Although you might expect this to resonate powerfully with working parents (68% state it was the biggest single challenge), its impact is all the more notable for how highly (3rd highest pinch point) women without children rated it.
The roots of these & lsquo;pinch points’ is caused by the lack of flexibility and rigid career structures that exist in many companies. 88% of all women surveyed see inflexible and long working hours and or rigid career options as a barrier to career progression. The problem is mostly keenly felt by women in their 30s with 71% claiming that rigid career options were a barrier and 79% stating that inflexible/long working hours were problematic. However, the issue of flexible working spans a wide period of many women’s careers, extending for women well into the 40s, as they may face other parenting milestones (children starting/changing school or taking important exams etc.) which require a flexible approach to their career.
Chris Parke, CEO of Talking Talent, comments: “18 months on from the Lord Davies review into women on boards, the number of females on FTSE 100 executive boards has crept up from 5.5% to 6.6%. More women should be coming through the talent pipelines but progression in this area is slow. We are seeing some strong movement in non-executive director appointments, but this is not a reflection of an improved talent pipeline. Our report shows that half of all women are rethinking their options - staying, leaving or doing something different - and the main drivers are the lack of flexibility in working practice, narrow career options and a lack of suitable managerial support.”
Managerial support is considered the number one factor that could help reduce these barriers. However, 35% of women complained that line management behaviour was hindering career progression and over half (54%) craved greater managerial support to help them move forward. One woman said “Managers aren’t thinking creatively about resources and how they can be best applied to market and client needs always wanting to put people in pre-existing boxes.”
The report also revealed a strong appetite for personal development amongst the women, and identified softer behavioural-led skills, as opposed to more functional skills as a key to progression. Self-belief and confidence was ranked as the highest (56%) requirement for all ages, with networking as the second highest priority at 54% and building profile/brand (40%) third. The research outlines greater management support (53%) and coaching and development (48%) as the most important tools to break down barriers and to help women progress, closely followed by that sought after improvement in flexible working (46%).
Parke adds: “Companies need to support women at all stages and introduce interventions to prevent barriers arising, enabling talent to move through the business at a quicker, and more consistent pace. As the research highlights, interventions such as coaching are in demand and for high potential women in particular it can be critical in preparing them for senior and board level roles. But they must be only part of the solution. This needs to be a holistic approach which involves the organisation, the managers and the employees. The role of the manager cannot be overstated but they themselves must receive the right support and challenge to ensure they can make good organisational policy a day to day reality.
“Organisations need to ensure they have the right mechanisms in place to enable managers to make flexible, part-time and alternative career paths work. Overlaid on top of that managerial support, each organisation must also evaluate how it can provide more female role models and senior mentors.”
Talking Talent is partnering with a number of companies including Ernst and Young, Deloitte, Citi, and Lloyds Banking Group to help them create more flexible, bespoke work environments that enable women to fulfil their potential. Six out of 10 of the award winners at this year’s Working Families Benchmark and Awards are currently working with Talking Talent.
Helena Morrissey, CBE, CEO Newton Investment Management & Founder of the 30% Club, comments: “Everyday Talking Talent works with women across ages, levels and industries, to tackle the barriers to their career progression. By undertaking this survey they sought to benchmark the themes they are seeing throughout their coaching. The results offer an insight into the present situation for women in the workplace, as they see it, and their thoughts on future solutions and it gives us a pathway for change that is overwhelmingly unanimous women from their twenties to fifties, at different levels and in different industries are in agreement on what they believe are the challenges and solutions. With over 2,500 responses, the research provides a robust understanding of what the needs of these women are, and therefore offers a high potential value for the UK businesses who are looking to invest in them. If businesses can be as clear in their actions in these areas for change as the women surveyed are in choosing them, real progress can continue to be made.”