New research has found that women aged 50-65 are leaving the workforce earlier than men, reducing the pool of experienced talent available for senior leadership and bOptionsoard roles.
The report from Balance for Better Business (B4BB), identified a range of factors contributing to an earlier exit from the workforce by women, including menopause, caregiving responsibilities, burnout, workplace ageism, and barriers to career progression.
The research found that Ireland has a larger participation gap between men and women aged 55-65 than the EU average, despite strong overall workforce participation rates among women.
“As experienced women leave the workforce at greater rates than men, organisations risk losing valuable talent and future leadership candidates,” the report found.
The research recommends a number of measures to address the issue, including recognising and supporting the caregiving responsibilities carried by women, as well as tackling the combined impact of ageism and gender bias.
The report also calls for increased investment in upskilling, greater recognition of the importance of flexible working, and steps to address menopause as a workforce retention issue.
Carolan Lennon, Co-Chair of Balance for Better Business, said women in their 50s and early 60s represent a highly experienced and skilled segment of Ireland’s workforce, yet too many continue to encounter barriers that make remaining in employment unnecessarily difficult.
“Retaining experienced women must be a strategic priority,” Ms Lennon said.
Bernard Byrne, Co-Chair of Balance for Better Business, said the earlier exit of so many women from the workforce has implications far beyond individual organisations.
“The actions identified in this report are practical and can help employers to make a real difference in retaining a balanced talent pool,” Mr Byrne said.
Minister for Enterprise, Tourism and Employment Peter Burke said the research highlights that many experienced women face barriers which can lead them to leave the workforce earlier than men.
“By addressing those barriers through supportive workplace policies, greater flexibility, and other supports, we can help ensure that talented women remain active participants in the workforce and continue progressing into leadership positions,” Mr Burke said.
Balance for Better Business is an independent group established by the Government in July 2018 to improve and promote gender balance at board and leadership level of Irish business.
