Why do midlife women exit the workplace?
Welcome to the bi-weekly update (#206) where we dive deeper into key topics, themes or issues specific to women and their lived experience.
Dr Lucy Ryan has written a book “Revolting Women: why midlife women walk out (and what to do about it)”, because she was noticing that just as women might step into a position of power in the workplace, their preference is to ‘step out’ instead.
To quote Dr Lucy Ryan:
“Just at the age women are in the position to progress in a significant way and assert their power in an organisation, they step down, or worse, quit. This is an extraordinary move. Here are women who have spent a professional lifetime facing into the everyday hurdles that working women will recognise: beating sexism by just getting through the door; overcoming societal expectations by demanding raises; having kids and finding that ‘having it all’ is an indecent myth; working out how to co-parent; finding their voice, getting heard and starting to see the future they want…”
Her doctoral research demonstrates three reasons for this:
The maintenance of power: That is, once middle-aged women are reaching positions of power, they are commonly, and systemically, excluded from organisations on three counts. They are not male; they are not young, and they rarely follow linear careers.
The collision of midlife changes: Midlife can present women with a unique collision of ‘stuff’, from menopause to older motherhood, parental care, familial health issues and grief. It’s a whirlwind that can scoop you up, leaving you breathless.
A revolution against gendered ageism: In emerging from this hiatus, the voices of the women in her study spoke loudly of a desire for progress and achievement; of a need to step up in their organisation and be celebrated for their knowledge and experience.
Indeed, a significant finding in her study was that 70% of the women wanted to step up in their careers. Not opt out, step down, move sideways, but up. These are women who firmly reject the notion of ‘decline’, or ‘escape to retirement’ and who are seeking flexible ways to navigate the significant issues surrounding their lives at this age, whilst still actively pursuing career advancement.”
Many senior women leave the workplace in their 50s because of the menopause- whether they are aware of it or not. Ironically, this is often at the peak of their career.
Meanwhile businesses haemorrhage talent and money and are often in the dark about the real reason women are leaving the workplace.
And the highest rates of suicide and divorce is for women aged 51-54 years-the menopausal age.
Here’s a list of key data points:
13m women currently in menopause (UK).
1bn+ women globally will be in menopause by 2025.
But, even though women control 80% of all healthcare buying and usage decisions in a $3.5tn healthcare industry the menopause market is hugely underinvested.
The Purse Ltd. Copyright 2023 & All Rights Reserved.
The Purse provides content for informational purposes only, we do not provide investment advice. Please do your own research or speak to a financial adviser.