Not surprisingly, their largest stressor is money.
Women around the world earn less than men. But you know where the gap in pay between men and women is smallest? China.
Women in China earn 12.7 percent less than men, while women in the U.S. earn 17.6 less, says a global survey from consulting firm Korn Ferry.
We’re below average at equal pay
Pay is more unequal in the U.S. than the overall global average. Women around the world earn 16 percent less than men.
But when women are given the same job position, the gap closes significantly. When women and men are in the same exact role, their gap in pay decreases to 7 percent. Then, when both men and women are at the same position in the same company, the gap closes to only 2.6 percent.
“Pay parity is still a very real issue, but it’s an issue that can be addressed if there is an ongoing effort to enable, encourage and select talented women to take on and thrive in challenging roles,” says Jane Edison Stevenson, a Korn Ferry executive. “Women have the skills and competencies needed to ascend to the highest levels within organizations, and it should be a business imperative for companies to help them get there.”
And while American working women make less money, more say they feel stress daily from their jobs than men.
Fifty-four percent of working women experience stress daily compared to 47 percent of men, says a study from employer benefits company Unum.
Younger workers in the U.S. experience stress at higher rates than older generations, says Unum. Thirty-nine percent of millennial workers (18-34) say they experience stress daily to several times a week. Conversely, baby boomer (65 and older) workers experience stress “infrequently or never.”
No matter what age, women are 7 percent more likely to say they experience stress “daily to weekly.” Here are the biggest causes of stress…
- Financial: 49 percent
- Home life and family relationships: 43 percent
- Personal health: 35 percent
- Job responsibilities: 33 percent
- Family members’ health: 33 percent
“Stress impacts worker productivity and can escalate over time to more serious health concerns and absences,” says Greg Breter, a Unum VP. “While stress may not be reported as the primary cause of absence, it’s often the underlying issue that caused or exacerbated another health condition and slowed down recovery.”
And helping employees manage their stress is in a company’s best interest, according to the survey. That stress is costing the U.S. economy a third of a trillion dollars yearly, says The American Institute of Stress (TAIS), due to…
- employee turnover
- lower productivity
- medical, legal and insurance costs
- workers’ compensation
Workplace stress contributes to workers complaining about back pain (30 percent), fatigue (20 percent), and headaches (13 percent), according to TAIS. Workplace absenteeism alone is estimated to cost U.S. companies $602 per employee, and a collective $3.5 million yearly.
Benefits should make work easier
Many companies have started offering workers the option to work from home more often. Even though more have, and enjoy the option, the majority still prefer working in the office.
Eighty-two percent of U.S. workers say having the ability to work from home allows them a better work-life balance. However, 62 percent still prefer working from the office, says a study from human resource and staffing company Randstad.
“Workers appreciate having the option to work when and where they want, but also value interacting with colleagues face-to-face in the workplace,” says Jim Link, a Randstad executive. “Employers who strike the right balance — making flexible work arrangements as accessible as possible through technology while also cultivating a thriving office culture — will succeed in attracting and retaining top talent.”
Interestingly, that number is higher for millennial workers, even though the ability to work remotely is a necessity to attract millennials in the workforce, according to U.S. News and World Report.
Workers are emotionally detached at work 26 percent of the time, says a study from staff firm Accountemps. That leads to lower productivity, morale, and higher turnover. What would fix that? Thirty-seven percent say they want nap rooms, free food and gyms at their work.
“Each worker and office environment are unique,” says Accountemps executive Michael Steinitz. “Managers should continually check in with their staff to gauge satisfaction levels and learn what motivates or potentially disengages them.”
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Article last modified on June 8, 2018. Published by Debt.com, LLC . Mobile users may also access the AMP Version: Women Stress More at Work And Earn Less - AMP.