Speaker 1: Bloomberg Audio Studios, Podcasts, radio news.
Speaker 2: This is Bloomberg Business Week with Carol Messer and Tim
Speaker 2: Stenebek on Bloomberg Radio.
Speaker 3: Here's a kind of startling statistic, Tim, Oh, more than
Speaker 3: one in ten women changed employers over the last year.
Speaker 3: And maybe that's not surprising, but most only plan to
Speaker 3: stay with their employer for about two and a half years.
Speaker 3: It turns out that poor work life balance, a lack
Speaker 3: of flexibility, and inadequate pay and benefits are driving women
Speaker 3: to say goodbye and leave their employers.
Speaker 2: This has serious implications because when it comes to tracking
Speaker 2: and retaining talent, it's very expensive, and you want people
Speaker 2: to stay at a company. If you're running a company
Speaker 2: for a long period.
Speaker 3: It was to begin to better. I mean I've only
Speaker 3: been saying that for twenty five thirty years.
Speaker 2: Everything that Carol just read was from some of the
Speaker 2: findings of Deloitte's annual Women at Work Report, which just
Speaker 2: came out today. We have with us Emma cod a
Speaker 2: Deloitte Global DEI officer. She joins us here in the
Speaker 2: Bloomberg Interactive at Broker's Studio. As Carol mentioned, Emma, it's
Speaker 2: it's you know, this is the type of stuff that's
Speaker 2: supposed to be getting better. Is it getting better?
Speaker 1: Sadly not every year. This is the fourth year that
Speaker 1: we've won't run this piece of research. We speak to
Speaker 1: five thousand women across workplaces, across ten countries, and every
Speaker 1: year when I do the analysis and start writing the report,
Speaker 1: I glimpses of hope and look, some things are improving.
Speaker 1: So burnout is down. It really reached a peak just
Speaker 1: after the pandemic when we started to come back, and
Speaker 1: I think for many of us it was this you know,
Speaker 1: always on, always on is still there, unfortunately, but burn
Speaker 1: outstand but stresses up real concerns about women's health menopause.
Speaker 1: This year, the data on that deeply concerning. And then
Speaker 1: we've got the sort of return to the office policies
Speaker 1: that are kicking in non inclusive behaviors. There's a lot
Speaker 1: of similar trends and I don't think we're just not
Speaker 1: seeing enough.
Speaker 3: Tim knows this. I say this all the time, that
Speaker 3: we have a great policy here for parents, whatever sex,
Speaker 3: to take six months off yeah primary CA and so
Speaker 3: I'm saying you guys need to do this. Amazing we
Speaker 3: have other colleagues because that's what to me, helps level
Speaker 3: the playing field of it's not just women out of
Speaker 3: the workforce for a long period of time, but it's
Speaker 3: also their partners and men also out of their workforce.
Speaker 3: And I feel like things like that might help, but
Speaker 3: help me out here to understand how do we really
Speaker 3: change the needle and a lot more of these things.
Speaker 1: So, by the way, commendable with those that policy. It's
Speaker 1: great because it really does make a difference. And if
Speaker 1: you look at some of the responses. So last year
Speaker 1: we started asking about household responsibilities and who takes the
Speaker 1: majority takes all the majority of the domestic unpaid workload,
Speaker 1: and it was unfortunately the data was women. This year,
Speaker 1: we are seeing that far higher. You know, so around
Speaker 1: half of women are taking on the majority of childcare
Speaker 1: responsibility and these are women and most of my working
Speaker 1: full time, so doing a full dose work. And then
Speaker 1: going back and we saw a lessening of those that
Speaker 1: split it with their partner. And then the adult care
Speaker 1: care for other adults is deeply concerning that that's gone
Speaker 1: up to six and ten from forty percent.
Speaker 2: Okay, I gotta tell you a parent of two young
Speaker 2: kids here, I was thinking, Carol, I was thinking last night.
Speaker 2: As I'm like picking up toys, doing the dishes. My
Speaker 2: wife is doing laundry, like she's the one who cooked
Speaker 2: last night. I did bad time. I was like, I
Speaker 2: need another person here to help. We only have one kid,
Speaker 2: but it's like I need I need another kids. No,
Speaker 2: I'm sorry, Oh sorry, just say yeah sorry, live, I
Speaker 2: love you.
Speaker 4: I met this.
Speaker 2: What I meant is like, we're not out numbered. We
Speaker 2: have one each live our Fortunately they're playing out. Fortunately
Speaker 2: they're playing outside right now and not listening, but one
Speaker 2: to eat right Like it's like, great, we're not out
Speaker 2: We're not out numbered at this point. That's what I mean.
Speaker 2: We're not out numbered yet. Yeah I know their names. Hey,
Speaker 2: this is not an interview about me.
Speaker 3: No, but it's interesting. And I'm going to say when
Speaker 3: my daughter was kid, when my daughter was little and
Speaker 3: I had aging parents, like you get that squeeze like
Speaker 3: there's a lot going on, but emma help us, Like, yeah,
Speaker 3: how how do we do things better? Because we all
Speaker 3: thought after the pandemic, Oh, everybody gets it, we need
Speaker 3: to have much more balanced like it's got a way
Speaker 3: r Yeah.
Speaker 1: So look, how do we do things better? How do
Speaker 1: what do organizations need to do so, so you know,
Speaker 1: you look at some of the data, around half of
Speaker 1: women are concerned about their personal safety at work when
Speaker 1: traveling for work.
Speaker 3: What does that mean?
Speaker 1: So so you know when you're traveling, when you're I mean,
Speaker 1: that's deeply concerning. We've seen women say that their rights
Speaker 1: are being eroded around the world, and actually this is
Speaker 1: personally impacting some women, including in fact most notably the
Speaker 1: rights are an equal wage and also the rights are
Speaker 1: to live free of violence.
Speaker 3: So this survey is global source, it's developing world as well,
Speaker 3: so yeah, and its ten countries, so it's got to
Speaker 3: se really good balance.
Speaker 1: So so you see these issues, you see mental health,
Speaker 1: you see you know, two thirds of women saying I'm sorry,
Speaker 1: I'm not going to disclose and I don't want to
Speaker 1: discuss this in the workplace. Why not because I'm worried
Speaker 1: it might make me vulnerable to layoffs, worried I might
Speaker 1: be stereotype discrimination.
Speaker 3: I think it would be really hard. I think it
Speaker 3: is hard for women to call and say I'm having
Speaker 3: a bad day, whether it's you name it, Yeah, and
Speaker 3: I don't know if I should go there. I mean,
Speaker 3: it's it's life, but it's just and these are real
Speaker 3: things that affect a woman's health. And I think that
Speaker 3: I don't know that you.
Speaker 1: Are right and ready for this because I'm my embarrassed.
Speaker 1: My daughters have twin daughters, and I embarrass them. So
Speaker 1: we have to talk about people to talk about menopause.
Speaker 1: I suffer from meendemutosis chronically. Did I disclose no?
Speaker 3: Back?
Speaker 1: Then? Would I disclose now? Yes? And so I think,
Speaker 1: you know, there is an evolution that we're seeing. But
Speaker 1: look at much of this comes down to policies. The
Speaker 1: great policies that you've talked about, so equalizing, paranal leave
Speaker 1: all of those great things. But honestly, you will only
Speaker 1: avail yourself with policies if your leader actually gets it
Speaker 1: understand So you know, yet again, every year we come
Speaker 1: back to inclusive leadership, we come back to the importance
Speaker 1: of modernizing the workplace. You know some BUSI right, and
Speaker 1: it's just seeing role models all of those things, because
Speaker 1: I can't have another year where we see data as
Speaker 1: concerning as this, and there.
Speaker 3: Is We've gaming, like I agree with things we can do,
Speaker 3: and we.
Speaker 2: Only have thirty seconds left. But I'm afraid you are
Speaker 2: going to see another year where you come back and
Speaker 2: talk to us in a year and you're going to
Speaker 2: say the same thing.
Speaker 1: I really hope we don't. I think as we see
Speaker 1: legislation coming in around the world, so we look at
Speaker 1: the EU, the Pay Directive there, the Pay Transparency Directive.
Speaker 1: I really believe that's going to start driving change. We
Speaker 1: need to see more of that around the world. And
Speaker 1: then the reality you talked earlier at the start, it's
Speaker 1: extremely expensive. Why would we invest in these brilliant future
Speaker 1: leaders only for them to have them turn around? And
Speaker 1: so I'm sorry, but you five years time, only seven
Speaker 1: percent of us are going to be with you.
Speaker 3: Just wanted to do that, right, We all talk about that.
Speaker 3: Right at the early levels, it's all the same, there's
Speaker 3: more parody, and then as it gets goes along and
Speaker 3: by the way, Steve, Steve, Tim your mother.
Speaker 4: In law, I'm just going to already see the therapy.
Speaker 3: Emma, thank you so much, really appreciated this conversation. Fingers
Speaker 3: crossed that the next year survey changes. Emma cod She's
Speaker 3: over at Deloitte Global, their DEI officer