In 2024, the workplace continues to evolve, but women are still facing significant challenges. The “Women at Work 2024: A Global Outlook” report from Deloitte sheds light on the realities women experience in the workforce. The data not only highlight ongoing issues but also underscore opportunities for organizations to create more supportive, inclusive environments where women can thrive.
Key Findings: The State of Women at Work
Despite progress in many areas, the report reveals that women still face obstacles to career advancement, particularly in achieving senior leadership roles. The following insights from the report provide a snapshot of the current global landscape:
- Workplace Well-Being is Declining Women report that their well-being at work is deteriorating, with increased stress and burnout. This is particularly concerning in light of the widespread focus on mental health and well-being initiatives, which many companies claim to prioritize. Yet, the report reveals that women are not benefiting from these initiatives at the expected level.
- Inequities in Flexibility and Advancement While flexible working arrangements have become more common, women are still at a disadvantage. The report highlights that women are less likely to have access to flexibility in their roles, particularly in industries and regions where traditional work cultures prevail. Moreover, the “broken rung” phenomenon continues to hinder women’s progress into management roles.
- The Ongoing Gender Pay Gap The gender pay gap remains a persistent issue globally. Women continue to earn less than their male counterparts, even in similar roles with equivalent experience. This gap not only affects women’s financial independence but also their overall job satisfaction and career outlook.
Opportunities for Positive Change
The Deloitte report doesn’t just highlight the issues—it also offers a roadmap for organizations to make meaningful improvements. Here’s how the findings align with I.Liv’s mission to empower women in the workplace:
- Promoting Inclusive Leadership and Sponsorship One of the report’s core recommendations is the need for more inclusive leadership that actively promotes diversity and ensures women are given equal opportunities for growth. I.Liv champions the importance of mentorship and sponsorship programs to guide women through the often-complex career ladders, especially during the transition to management roles. These programs can help address the ‘broken rung’ that prevents women from advancing to senior positions. However, for these initiatives to truly succeed, they must provide women with the necessary knowledge and tools for implementation, rather than leaving them to figure things out on their own.
- Advancing Flexible and Equitable Work Practices Flexibility should not be seen as a perk but as a core element of a supportive workplace. The I.Liv Foundation System leads women to manage competing priorities across all aspects of life, integrating work-life balance by design. Through intentional living, it empowers women to make the most of the flexibility available within organizational or role constraints, benefiting both themselves and their organizations. By prioritizing flexible work arrangements that cater to individual needs, organizations can enhance both retention and productivity among female talent.
- Closing the Pay Gap The I.Liv Lead for Outcomes solution plays a crucial role in empowering women with the financial acumen needed to drive measurable business outcomes and hitting strategic targets/objectives. By equipping women with the skills to navigate complex business landscapes, make strategic decisions, and deliver concrete results – leading for outcomes – , they become invaluable contributors to their organizations. As they take control of their growth and demonstrate their impact on the bottom line, companies are more likely to recognize their contributions and improve their compensation. This approach not only helps women advocate for themselves within these systems but also fosters an environment where salary growth is increasingly linked to demonstrated value and measurable success, providing them with leverage to push for fairer compensation.
I.Liv’s Role in Shaping the Future of Women at Work
At I.Liv, we personally and deeply understand the unique challenges women face in the workforce and the steps required to create meaningful change. Our solutions are designed to help women break through barriers, achieve their career goals, and lead with confidence. By fostering an environment that promotes success with balance and well-being, career advancement, and leadership a every level, we aim to close the gap between strategy and execution in diversity initiatives and organizational performance.
The data in the “Women at Work 2024” report are clear: workplaces still have a long way to go, but the solutions are within reach. Through collective efforts and solutions like I.Liv’s, we can support women in achieving their full potential, both personally and professionally.