Women have fought for workplace equality for centuries, and undeniable progress has been made.
Data from the World Economic Forum shows that the number of women founders has doubled over the past five years. During the pandemic, the number of women-owned unicorn companies increased five-fold. This is the first year over 10% of Fortune 500 companies have female CEOs.
Those numbers are encouraging, but there’s room for improvement, considering that women comprise 58.4% of the workforce.
Women face unique challenges in the workplace, which can hinder advancement and opportunities for success. Now is the time for businesses to make intentional changes that address these challenges and create a supportive environment.
What steps can companies take to empower and support their female employees?
Create an Inclusive Environment
Businesses can foster an inclusive workplace culture by creating policies and procedures that support gender equality, such as equal pay and opportunities for promotion.
Although more states and cities are enacting wage transparency laws to close the pay gap and promote fairer compensation, women earn 82% of a man’s salary for the same position. Even if the law doesn’t bind companies, instituting wage transparency policies can go a long way toward helping women negotiate better salaries and feel more valued.
Businesses must also focus on promoting women and placing them in leadership roles. Countless studies tout the benefits of having women in high-ranking positions, including increased profitability, higher quality customer experience, more openness to change, and less risk-seeking.
How Taboola Supports an Inclusive Environment: Taboola has set high goals for itself in this area, aiming to ensure 45% of all promotions and new hires, including leadership roles, will be women by 2025. Currently, 18% of women at Taboola are senior leaders, against our 25% women leadership (vice president roles and higher) goal.
Offer Flexible Work Terms
Women are often primary caregivers for children or elderly parents, and according to an AARP study, they are three times more likely to drop out of the workforce due to caregiver responsibilities. If employers offered more support for caregivers, enabling them to continue working, the US GDP would add an extra $1.7 trillion by 2030.
Flexible hours, remote work, or generous paid time off options give caregivers a better work-life balance, allowing them to continue working and advancing in their careers while still meeting their other obligations and improving their mental and physical health by reducing stress.
How Taboola Promotes Flexibility: Taboola offers US employees unlimited paid time off because employees shouldn’t have to use vacation days to care for sick family members or because they need a mental health day. We trust that our employees will take time off to recoup when needed, unwind and be present on family vacations, and then return to work feeling refreshed and ready to take on their next challenge.
Provide Paid Parental Leave
The US is one of the few countries that doesn’t have a national paid parental leave law; only a handful of states have passed such laws. Not only does paid leave provide mothers essential time to recuperate and bond with a child, but it also helps alleviate the stress and burden of losing income or job security. Additionally, paid family leave decreased the poverty risk of new mothers by 10%, lowered rehospitalization risk by 51%, and reduced depressive symptoms, marital issues and self-esteem problems.
Taboola’s Parental Leave Policy: Taboola employees can have it all, and our paid parental leave policy supports that. Primary caregivers receive 26 weeks of paid leave with return-to-work flexibility, including working 80% during the first two months back while receiving full-time pay. Secondary caregivers receive eight weeks of paid leave which can be taken all at once or spread out over 12 months.
Encourage Employee Resource Groups (ERGs)
Employee resource groups offer a supportive community for women to connect, build relationships, share experiences, and advocate for policies and practices that support women in the workplace. ERGs also enhance opportunities for professional development, skill building, and mentoring.
By raising awareness of women’s unique experiences and perspectives, ERGs offer company-wide benefits, such as promoting greater understanding and empathy across the organization.
Taboola ERG Groups for Women: TaboolHER’s mission is to underscore the value women bring to our workplace and make Taboola a company where women choose to grow by bringing the entire organization together to celebrate the contributions of our female Taboolars — our TaboolHERS.
Taboola Families highlights the additional requirements and needs of parents. The group educates the company about parenting issues, sets up practical programs like a back-to-work buddy system, lobbies for policy changes, and organizes social activities for Taboola parents and their children.
These are just a few impactful policies, programs, and resources Taboola has implemented to support women. We believe that creating an environment that promotes gender equality and empowers women to succeed ultimately benefits and strengthens our entire company.