0:02

Bloomberg Audio Studios, Podcasts,

0:05

radio news.

0:07

This is Bloomberg Business Week with

0:09

Carol Messer and Tim Stenebek

0:12

on Bloomberg Radio.

0:13

Here's a kind of startling statistic, Tim,

0:16

Oh, more than one in ten women

0:18

changed employers over the last year.

0:21

And maybe that's not surprising, but most only

0:23

plan to stay with their employer for

0:25

about two and a half years. It turns

0:28

out that poor work life balance, a lack of flexibility,

0:30

and inadequate pay and benefits are driving

0:32

women to say goodbye and leave

0:34

their employers.

0:35

This has serious implications because when it comes

0:37

to tracking and retaining

0:39

talent, it's very expensive, and you want

0:42

people to stay at a company. If you're running a company

0:44

for a long period.

0:44

It was to begin to better. I mean I've only been saying

0:47

that for twenty five thirty years.

0:49

Everything that Carol just read was

0:51

from some of the findings of Deloitte's annual

0:53

Women at Work Report, which just came out today.

0:56

We have with us Emma cod a Deloitte Global

0:58

DEI officer. She joins us here in the Bloomberg

1:00

Interactive at Broker's Studio. As Carol

1:03

mentioned, Emma, it's it's you know, this is

1:05

the type of stuff that's supposed to be getting better. Is

1:07

it getting better?

1:10

Sadly not every year. This is the

1:12

fourth year that we've won't run this piece of

1:14

research. We speak to five

1:16

thousand women across workplaces, across

1:18

ten countries, and every year when

1:20

I do the analysis and start writing

1:22

the report, I glimpses

1:25

of hope and look,

1:28

some things are improving. So burnout

1:30

is down. It really reached

1:32

a peak just after the pandemic when we started to

1:34

come back, and I think for many of us it was

1:36

this you know, always on, always

1:39

on is still there, unfortunately, but burn outstand

1:41

but stresses up real

1:44

concerns about women's health menopause.

1:47

This year, the data on that deeply

1:49

concerning. And then

1:51

we've got the sort of return to the office policies

1:54

that are kicking in non inclusive

1:56

behaviors. There's a lot of similar trends

1:58

and I don't think we're just not seeing enough.

2:00

Tim knows this. I say this all the time, that we

2:03

have a great policy here for parents,

2:06

whatever sex, to take six months off

2:08

yeah primary CA and so I'm

2:10

saying you guys need to do this. Amazing

2:13

we have other colleagues because that's

2:15

what to me, helps level the playing field

2:18

of it's not just women out of the workforce

2:20

for a long period of time, but it's also their

2:22

partners and men also out of their workforce.

2:24

And I feel like things like that might help,

2:26

but help me out here to understand how

2:28

do we really change the needle and a lot more

2:30

of these things.

2:31

So, by the way, commendable

2:34

with those that policy. It's great because it really does

2:36

make a difference. And if you look at some of the responses.

2:38

So last year we started asking

2:40

about household responsibilities and who

2:42

takes the majority takes all the

2:44

majority of the domestic unpaid

2:47

workload, and it

2:49

was unfortunately the data was women. This

2:51

year, we are seeing that far higher. You

2:54

know, so around half of women are

2:57

taking on the majority of childcare responsibility

2:59

and these are women and most of my working full time, so

3:01

doing a full dose work. And then going back and we saw a

3:03

lessening of those that split it with their partner.

3:06

And then the adult care care for other

3:08

adults is deeply concerning that that's

3:10

gone up to six and ten from forty percent.

3:14

Okay, I gotta tell you a parent of two young

3:16

kids here, I was thinking, Carol, I was thinking last

3:18

night. As I'm like picking up toys,

3:20

doing the dishes. My wife is doing laundry,

3:23

like she's the one who cooked last night. I did bad

3:25

time. I was like, I need another person

3:27

here to help. We only have one kid,

3:30

but it's like I need I need another kids.

3:32

No, I'm sorry, Oh sorry, just say

3:34

yeah sorry,

3:36

live, I love you.

3:39

I met this.

3:41

What I meant is like, we're not out numbered. We

3:43

have one each live our Fortunately

3:47

they're playing out. Fortunately they're playing outside

3:49

right now and not listening, but

3:52

one to eat right Like it's like, great, we're not

3:54

out We're not out numbered at this point. That's what

3:56

I mean. We're not out numbered yet. Yeah

3:59

I know their names. Hey, this is not

4:01

an interview about me.

4:02

No, but it's interesting. And I'm going to say when my

4:04

daughter was kid, when my daughter

4:06

was little and I had aging

4:09

parents, like you get that squeeze

4:11

like there's a lot going on, but

4:14

emma help us, Like, yeah, how

4:16

how do we do things better? Because we all thought after

4:18

the pandemic, Oh, everybody gets it, we

4:20

need to have much more balanced like it's

4:22

got a way r Yeah.

4:24

So look, how do we do things better? How do what do

4:26

organizations need to do so,

4:28

so you know, you look at some of the data, around half

4:30

of women are concerned about their personal

4:33

safety at work when traveling for work.

4:35

What does that mean?

4:35

So so you know when you're traveling,

4:38

when you're I mean, that's deeply concerning. We've

4:40

seen women say that their rights are

4:43

being eroded around the world, and actually

4:45

this is personally impacting some women, including

4:47

in fact most notably the rights are an equal

4:49

wage and also the rights are to

4:51

live free of violence.

4:53

So this survey is global

4:55

source, it's developing world as well,

4:57

so yeah, and its ten countries, so it's got

4:59

to se really good balance.

5:01

So so you see these issues, you see mental

5:03

health, you see you know, two thirds of women

5:06

saying I'm sorry, I'm not going to disclose and

5:08

I don't want to discuss this in the workplace.

5:10

Why not because I'm worried it might make

5:12

me vulnerable to layoffs, worried I might

5:15

be stereotype discrimination.

5:16

I think it would be really hard. I think it is hard

5:18

for women to call and say I'm having a bad

5:20

day, whether it's you

5:25

name it, Yeah, and I

5:27

don't know if I should go there. I mean, it's it's life,

5:30

but it's just and these are real things

5:32

that affect a woman's health. And I think that

5:34

I don't know that you.

5:35

Are right and ready

5:38

for this because I'm my embarrassed.

5:40

My daughters have twin daughters, and

5:42

I embarrass them. So

5:44

we have to talk about people to talk

5:46

about menopause. I suffer from meendemutosis

5:49

chronically. Did I disclose no?

5:53

Back?

5:53

Then? Would I disclose now? Yes?

5:56

And so I think, you know, there is an evolution

5:58

that we're seeing. But look at much of

6:00

this comes down to policies. The great policies

6:02

that you've talked about, so equalizing,

6:05

paranal leave all of those great things. But honestly,

6:07

you will only avail yourself with policies

6:09

if your leader actually

6:12

gets it understand So you know,

6:14

yet again, every year we come back to inclusive

6:16

leadership, we come back to the importance of

6:18

modernizing the workplace. You know some

6:21

BUSI right,

6:24

and it's just seeing role models all of

6:26

those things, because I can't have another

6:28

year where we see data as

6:30

concerning as this, and there.

6:32

Is We've gaming, like I agree with things

6:34

we can do, and we.

6:35

Only have thirty seconds left. But I'm afraid you are going to

6:37

see another year where you come back and talk to us

6:39

in a year and you're going to say the same thing.

6:42

I really hope we don't. I think

6:44

as we see legislation coming

6:46

in around the world, so we look at the EU, the

6:48

Pay Directive there, the Pay Transparency

6:50

Directive. I really believe

6:52

that's going to start driving change. We need to see

6:54

more of that around the world. And

6:56

then the reality you talked earlier at the start, it's extremely

6:59

expensive. Why would we invest in these

7:01

brilliant future leaders only for them

7:03

to have them turn around? And so I'm sorry, but

7:05

you five years time, only seven percent

7:08

of us are going to be with you.

7:09

Just wanted to do that, right, We all talk about

7:11

that. Right at the early levels, it's all the same,

7:13

there's more parody, and then as it gets goes along

7:16

and by the way, Steve, Steve, Tim

7:18

your mother.

7:19

In law, I'm

7:27

just going to already see the therapy.

7:30

Emma, thank you so much, really appreciated

7:33

this conversation. Fingers crossed that

7:35

the next year survey changes. Emma cod She's

7:37

over at Deloitte Global, their DEI officer