Despite being the fastest-growing segment of the UK workforce, you’ll hardly see anything written about mid-life women on LinkedIn or on social media.
You’ll see endless articles and comments about the importance of women in tech and women in VC firms and women in this and women in that. But everyone seems to focus exclusively on emerging female talent pipelines – women in their 20s or early 30s, or even girls in their teens. Everyone is focussed on the future.
There’s absolutely nothing wrong with that. We support these efforts wholeheartedly.
But what about the – literally – millions of women aged 45-60+ who contribute enormously to every part of the economy? Their careers and their contributions are rarely discussed.
This is unjust and bad business.
The costs of losing mid-life women
Let’s take an example of a senior woman working in a consulting firm. They may or may not be at the partner level. But they will be pulling in significant annual fees for their employer, year after year after year.
What’s the cost of that senior woman leaving their firm at aged 50 instead of aged 60, assuming they can’t be replaced easily?
Let’s assume that she bills £250,000 in a standard year. That means her retention will bring in an extra £2,500,000 over 10 years. If we assume EBIT at 20%, that’s £500k added to the bottom line. You can play around with the assumptions, but you’re guaranteed to come up with an eye-catching figure.
Now let’s multiply that number by all the mid-life women in your workforce. And let’s assume that some of those women will stay in the firm until aged 65 or even longer. The figures could easily eclipse the revenue and EBIT generated from younger cohorts after mid-career attrition is taken into account. The up-front training investment for mid-life women is also likely to be markedly lower, and the intangible benefits of retaining knowledge and client relationships could make an enormous difference to the performance of the whole firm.
Given the above, it’s crazy not to focus on mid-life women on the basis of financials alone.
Peppy Menopause product
That’s why there’s a buzz building around Peppy’s menopause service. We launched our one-to-one menopause support service less than 4 weeks ago and we’ve already built an incredible pipeline of name-brand employers.
These employers know that difficult menopause symptoms can result in up to 10% of mid-life women seriously thinking about leaving the workforce (source: Nuffield Health research). And they know that menopause results in hidden absences, higher long-term sickness, reductions in day-to-day productivity and lower morale.
The ROI on Peppy menopause is therefore astounding. For what can only be described as an immaterial outlay, employers reap the benefits of retaining and supporting experienced and hard-working women who contribute enormously to the bottom line.
Employers who offer Peppy menopause support also signal that they care about the lives of all their women colleagues. Not just the ones who get all the attention on LinkedIn and social media.
If you know of any employers who might want to offer Peppy Menopause to their women colleagues, please contact Max on email@example.com